BW LPG Shipping Divests Shares in Confidence Petroleum India Ltd and Terminates Agreements
Confidence Petroleum India Limited has confirmed the divestment of its investment by BW LPG Shipping FZCO (formerly BW LPG Infrastructure DMCC). The transaction was completed with effect from June 2, 2026, leading to the termination of all agreements previously entered into between the Company and the Investor that were dated November 30, 2023.The company acknowledged receipt of the necessary disclosure regarding this divestment from BW LPG Shipping FZCO on June 3, 2026. Consequently, upon completion of the share transfer, all agreements established between Confidence Petroleum India Limited and BW LPG Shipping FZCO concerning the matters set out in the November 30, 2023 documents are now terminated and cease to have any force or effect.
Details regarding the sale of shares held by BW LPG Shipping FZCO in Confidence Petroleum India Limited were provided in a disclosure annexure. The transaction details reflect the transfer of equity shares by the seller, BW LPG Shipping FZCO (formerly BW LPG Infrastructure DMCC).
The sale involves the acquisition and disposal of 28,229,120 shares carrying voting rights by the buyer. This acquisition was executed through an Off-Market mode.
Key Financial Details of Share Disposal
The following table details the pre and post transaction shareholding figures for Confidence Petroleum India Limited:
| Metric | Before Acquisition/Sale | After Acquisition/Sale |
|---|---|---|
| Equity Share Capital / Total Voting Capital of TC | 33,22,41,043 equity shares (face value INR 1 each) | 33,22,41,043 equity shares (face value INR 1 each) |
| Total Diluted Share/Voting Capital of the TC after acquisition/sale | N/A | 33,22,41,043 equity shares (face value INR 1 each) |
The disclosed figures pertaining to the sale are summarized below:
| Metric | Detail |
|---|---|
| Seller and PAC Name | BW LPG Shipping FZCO (Formerly BW LPG Infrastructure DMCC) |
| Shares Held Before Disposal | 2,82,29,120 (representing 8.50% of total share/voting capital) |
| Shares Acquired in Transaction | 2,82,29,120 (representing 8.50% of total share/voting capital) |
| Completion Date of Sale | June 2, 2026 |
CONFIPET Stock Price Movement
As of 12:20 PM, Confidence Petroleum India Limited is shedding marginally in live trading, with shares slipping by 0.03% to ₹76.77 today. The stock saw substantial activity exceeding 5.6 million shares traded and recently touched its 52-week high mark.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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