Bharat Petroleum Corporation Limited (BPCL) signed an agreement on 29 June 2026 to acquire a 40% equity stake in Tiki Tar and Shell India Private Limited (TTSIPL), a joint venture between Tiki Tar Group and Shell Gas B.V. BPCL will pay Rs 85 crore in cash consideration for the stake.
The acquisition is expected to be completed within 90 days of signing. The transaction is not a related party transaction and has been approved by the Department of Investment and Public Asset Management (DIPAM). BPCL had previously informed the exchanges about the proposed acquisition on 30 May 2025.
TTSIPL was incorporated on 11 October 2019 and operates in the business of marketing, processing, importing, exporting, and selling bitumen and bituminous products. TTSIPL's product portfolio includes VG Grade Bitumen, Polymer Modified Bitumen (PMB), Crumb Rubber Modified Bitumen (CRMB), Emulsion, and Emulsion OB, providing solutions for both highways and airport runways.
TTSIPL reported a turnover of Rs 317.76 crore for the financial year ended March 2024, Rs 545.16 crore for March 2025, and Rs 404.60 crore for March 2026. TTSIPL primarily serves the Indian market, with export sales extending to Nepal, Bhutan, and Bangladesh.
BPCL's acquisition of a 40% stake in TTSIPL is aimed at capturing the growing market for Value-Added Bitumen (VAB) in India's infrastructure sector. TTSIPL has an authorised share capital of Rs 37 crore and a paid-up capital of Rs 36.09 crore as of its last filing.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.