Gulf Oil Lubricants India gets listed on BSE and NSE

Gulf Oil Lubricants India with pure play in Lubricants, well poised to deliver enhanced value to all stakeholders.

Gulf Oil Lubricants India Ltd (GOLIL) was today listed on the country's premier exchanges - BSE and NSE, post the requisite approvals. Sanjay.G.Hinduja, Chairman, Gulf Oil International opened the market to commence the day’s trading by striking the gong at the listing ceremony of GOLIL at the Bombay Stock Exchange (BSE). The listing was inaugurated by the lighting of a lamp by Sanjay.G. Hinduja, Chairman, Gulf Oil International; Ravi Chawla, MD, GOLIL and Ashishkumar Chauhan, MD and CEO, BSE Ltd.

With the demerger of the Lubricants business of Gulf Oil Corporation Limited to GOLIL, the new Lubricant Company GOLIL will manage the standalone Lubricant business in India under “Gulf Oil” brand. The lubricant business has reached the size and scale to take up its future growth journey in a more focused manner independently. GOLIL, which will be a company with a pure lubricants play, will bring in additional focus & resources to increase its business revenues & market shares in the lubricant space in India. Given the positive outlook for the economy – Gulf Oil is well placed to increase its market shares in Automotive and Industrial lubricants.

The core values of the brand are Quality, Endurance & Passion .Gulf Oil has been associated with the Indian Premier League as team sponsors over the years & is currently associated with the Chennai Super Kings. Gulf Lubricants is proud to have Mahendra Singh Dhoni, India Cricket Team Captain as its Brand Ambassador since 2011 & regular campaigns have been launched across media with M S Dhoni and the CSK players to communicate the brand/product propositions & create consumer pull across the focus segments. Post demerger, Shareholders of Gulf Oil Corporation Limited (GOCL) have been allotted 1 (one) share in Gulf Oil Lubricants India Limited (GOLIL) for every 2 (two) shares held in GOCL and simultaneous effect has been given to capital reduction / reorganization in GOCL by allotting 1 (one) new GOCL share for every such two old GOCL shares. New shares of GOCL have also been issued and already listed on stock exchanges on 26th June, 2014. These GOCL and GOLIL shares have been issued / allotted to the Shareholders of GOCL as on the record date, 5th June 2014.