BPCL to acquire 40% stake in Tiki Tar and Shell India for ₹85 crore

Incorporated in October 2019, Tiki Tar and Shell India Pvt Ltd (TTSIPL) manufactures and markets bitumen and bituminous products used in highways and airport runways

State-run Bharat Petroleum Corporation on Monday said it will acquire a 40 per cent equity stake in Tiki Tar and Shell India for Rs 85 crore in cash, as it seeks to expand its presence in India's fast-growing value-added bitumen market. The acquisition, which has received approval from the Department of Investment and Public Asset Management (DIPAM), is expected to be completed within 90 days, Bharat Petroleum Corporation Ltd (BPCL) said in a regulatory filing. The transaction is not a related-party deal. Incorporated in October 2019, Tiki Tar and Shell India Pvt Ltd (TTSIPL) manufactures and markets bitumen and bituminous products used in highways and airport runways. Its portfolio includes VG Grade Bitumen, Polymer Modified Bitumen (PMB), Crumb Rubber Modified Bitumen (CRMB), and emulsions. The company also exports to Nepal, Bhutan and Bangladesh. BPCL said the investment aligns with its strategy to tap growing demand for value-added bitumen driven by India's infrastructure ...

BPCL stated in a regulatory filing that the acquisition, approved by DIPAM, is expected to be completed within 90 days

Mumbai: Bharat Petroleum Corporation Limited (BPCL) announced on Saturday that it has signed an agreement to acquire a 40 percent equity stake in Tiki Tar and Shell India Private Limited (TTSIPL) for a cash consideration of Rs 85 crore.Acquisition RationaleBPCL's acquisition is driven by the need to capture the rapidly growing market for Value-Added Bitumen (VAB) in India's infrastructure sector, the company said in an exchange filing.BPCL Raises Russian Crude Imports To 41%, Company Secures Oil Supply Till July 2026Target Company DetailsTTSIPL, incorporated on 11 October 2019, operates in the business of marketing, processing, purchasing, importing, exporting, and selling bitumen and bituminous products. Its product portfolio includes VG Grade Bitumen, Polymer Modified Bitumen (PMB), Crumb Rubber Modified Bitumen (CRMB), Emulsion, and Emulsion OB.Turnover PerformanceTTSIPL reported a turnover of Rs 317.76 crore in March 2024, which increased to Rs 545.16 crore in March 2025. For March 2026, the company's turnover was Rs 404.60 crore.BPCL Appoints Sanjay Khanna As CMD, Leads ₹75,000 Crore Investment Drive Through 2029Geographic PresenceThe target entity primarily operates in India, with export sales extending to Nepal, Bhutan, and Bangladesh.Regulatory ApprovalsThe acquisition has received approval from the Department of Investment and Public Asset Management (DIPAM). The company expects to complete the acquisition within 90 days.Financial StructureThe total cost of acquiring the 40 percent equity stake is Rs 85 crore, paid as cash consideration. The transaction is not considered a related party transaction, according to the company.Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.