BW LPG exits Confidence Petroleum with 8.50% stake sale

1 min read Updated on 05 Jun 2026, 04:15 AM

Reviewed by

Shriram SScanX News Team

AI Summary

BW LPG Shipping FZCO divested its entire 8.50% stake in Confidence Petroleum India Limited on June 2, 2026, through an off-market transaction involving 2,82,29,120 shares. Following the sale, all agreements dated November 30, 2023, between the two entities were terminated. The disclosure was made in compliance with SEBI Takeover Regulations.

*this image is generated using AI for illustrative purposes only.

BW LPG Shipping FZCO has divested its entire shareholding in Confidence Petroleum India Limited , exiting the company completely through an off-market transaction on June 2, 2026. The sale involved the disposal of 2,82,29,120 equity shares, which accounted for 8.50% of the total voting capital prior to the transaction. This disclosure was made to the stock exchanges in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Consequent upon the completion of the divestment, all agreements entered into between Confidence Petroleum India Limited and BW LPG Shipping FZCO pursuant to or in connection with the agreements dated November 30, 2023, have been terminated and ceased to have any force or effect. The company received the requisite disclosure from the investor regarding the divestment on June 3, 2026.

The transaction was executed off-market, resulting in the complete exit of the acquirer from the target company. Prior to the disposal, BW LPG Shipping FZCO held 2,82,29,120 shares carrying voting rights, with no other encumbrances or convertible instruments reported. The total equity share capital of Confidence Petroleum India Limited stood at 33,22,41,043 equity shares of face value INR 1 each, amounting to INR 33,22,41,043, both before and after the transaction.

Shareholding Details

The following table outlines the changes in shareholding for BW LPG Shipping FZCO before and after the transaction:

Category	Before Transaction	After Transaction
Shares carrying voting rights	2,82,29,120 (8.50%)	NIL
Encumbered shares	NIL	NIL
Voting rights otherwise than by shares	NIL	NIL
Convertible securities	NIL	NIL
Total Holding	2,82,29,120 (8.50%)	NIL

Transaction Overview

The mode of acquisition or sale was specified as off-market. The date of the sale of shares in the target company was June 2, 2026. The seller, BW LPG Shipping FZCO, formerly known as BW LPG Infrastructure DMCC, confirmed that it does not belong to the promoter or promoter group of the target company. The shares of Confidence Petroleum India Limited are listed on BSE Limited and the National Stock Exchange of India Limited.

Historical Stock Returns for Confidence Petroleum

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+5.40%	+5.43%	+27.70%	+101.70%	+30.35%	+22.30%

Who is the buyer of the 8.50% stake, and will they trigger an open offer under SEBI regulations?

How will the termination of agreements dated November 30, 2023, impact Confidence Petroleum's operational strategy?

What was the rationale behind BW LPG's decision to exit its investment completely less than three years after acquiring the stake?

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Confidence Petroleum director resigns effective June 4

1 min read Updated on 05 Jun 2026, 03:28 AM

Reviewed by

Ashish TScanX News Team

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AI Summary

Mrs. Ketki Mahendra Save resigned as Non-Executive Non-Independent Director of Confidence Petroleum India Limited effective June 4, 2026, due to preoccupation with other activities. Save confirmed no material reasons for her departure and no claims against the company. She ceased to be a member of the Audit, Nomination and Remuneration, Stakeholders Relationship, Risk Management, CSR, and Management committees.

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Mrs. Ketki Mahendra Save has resigned as Non-Executive Non-Independent Director of confidence petroleum effective June 4, 2026, due to preoccupation with other activities. The resignation was intimated to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Save confirmed there are no material reasons for her departure beyond the stated reason and that she has no claims against the company or its affiliates.

Following her resignation, Save ceased to be a member of several key committees of the company. These include the Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, Risk Management Committee, CSR Committee, and Management Committee. The disclosures regarding the cessation were made in accordance with SEBI master circular no SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Save requested the Board to acknowledge the resignation and undertake necessary formalities. These include filing the required forms with the jurisdictional Registrar of Companies and the Ministry of Corporate Affairs. The company will also file necessary intimations with other statutory authorities to give effect to the resignation.

The details of the director's cessation are summarized below:

Sr. No	Particulars	Details
01	Reason for Change	Resignation as a Non-Executive Non-Independent Director with effect from June 4, 2026.
02	Date of Cessation	Mrs. Ketki Mahendra Save (DIN: 07171129) ceased to be a Non-Executive Non-Independent Director with effect from June 4, 2026.
03	Brief Profile	Not Applicable
04	Disclosure of Relationship	Not Applicable
05	Shareholding in %	Not Applicable