Gaspoint Petroleum pledges 2.61 crore shares in Confidence Petroleum

Gaspoint Petroleum India Limited, a promoter group entity, has pledged 2,61,00,000 equity shares in confidence petroleum to meet working capital requirements. The pledge, representing 7.86% of the total share capital, was created on June 3, 2026, in favor of Shine Star Build Cap Pvt Ltd. This encumbrance increases the total encumbered shares held by the promoter to 2,90,00,000, or 8.73% of the total share capital.

The disclosure was submitted to the National Stock Exchange of India Limited and The Bombay Stock Exchange under Regulation 31 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing references SEBI's Master circular dated February 16, 2023.

Pledge Details

The following table outlines the shareholding and encumbrance details for the promoter group:

Promoter/PAC	Promoter Holding (Number)	% of Total Share Capital	Pre-Event Encumbered Shares	% of Total Share Capital	Pledged Shares (Number)	% of Total Share Capital	Post-Event Encumbered Shares	% of Total Share Capital
Gaspoint Petroleum India Limited	70860975	21.33	2900000	0.87	26100000	7.86	29000000	8.73
Confidence LPG Bottling Pvt Ltd	11145698	3.35	1915000	0.58	NA	NA	NA	NA
Essenn LPG Bottling Private Limited	30437981	9.16	NA	NA	NA	NA	NA	NA
Nitin Punamchand Khara	23532987	7.08	1875000	0.56	NA	NA	1875000	0.56

Other promoter group entities, including Elesh Punamchand Khara, Khara Software Services Limited, N. N. V. Finance Limited, and Alpa Nitin Khara, hold shares but have no reported encumbrances. Nitin Khara, Director of Gaspoint Petroleum (India) Limited, signed the disclosure on June 3, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.95%	-8.41%	+23.70%	+110.65%	+14.95%	+10.12%

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.