BPCL To Buy 40% Stake In Tiki Tar And Shell India For ₹85 Crore

State-run Bharat Petroleum Corporation Limited (BPCL) is expanding its footprint beyond traditional fuel products. The company has entered into a deal to buy 40% ownership in Tiki Tar and Shell India Private Ltd (TTSIPL) for a cash consideration of ₹85 crore. The deal has already been cleared by the Department of Investment and Public Asset Management (DIPAM), and it is expected to be closed and formalised within the next 90 days.

Why Is BPCL Investing In Tiki Tar And Shell India?

BPCL said the investment is part of its strategy to strengthen its presence in the value-added bitumen market, which is expected to grow alongside India's infrastructure expansion. TTSIPL, incorporated in October 2019, is a joint venture between the Tiki Tar Group and Shell Gas BV.

The company manufactures, markets, imports and exports bitumen and bituminous products. Its portfolio includes VG Grade Bitumen, Polymer Modified Bitumen (PMB), Crumb Rubber Modified Bitumen (CRMB) and emulsion products that are widely used in highways, airport runways and other infrastructure projects. It also exports products to Nepal, Bhutan and Bangladesh.

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What Does TTSIPL Bring To BPCL?

TTSIPL has built a business focused on specialised bitumen products rather than conventional fuel sales. According to BPCL's regulatory filing, the company reported revenue of ₹404.6 crore in FY26, compared with ₹545.16 crore in FY25.

BPCL believes the acquisition will help it capture opportunities in the fast-growing market for value-added bitumen, supported by increasing investments in roads, airports and other infrastructure projects across the country.

The transaction is expected to close within 90 days, subject to the completion of customary formalities. BPCL also clarified that the acquisition is not a related-party transaction.

Source:

ET Energyworld