The BP unit is selling shares at between 385 rupees to 415.5 rupees apiece, the termsheet showed. Shares of Castrol India ended flat at 416.80 rupees on Tuesday.

The deal size amounts to an up to 8.53 percent stake in the company, including an upsize option.

BP owned 59.5 percent of Castrol India as of the end of June through its units. It had sold another stake in Castrol India in May.

(Reporting by Manoj Rawal; Editing by Rafael Nam)

Stocks treated in this article : BP plc, Castrol India Limited