Castrol plans to sell shares at about Rs 385-415.5 apiece, according to the terms of the transaction seen by ET. Lower end of the price band is at 7.3% discount to the Tuesday’s price of Rs 416.8 on the NSE.
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It will sell 3.5 crore shares (7% of the company) with an option to sell an additional 1.53%. Citigroup and ICICI Securities are book runners.