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 Rationale
BPCL'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.
Target Company Details
TTSIPL, 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 Performance
TTSIPL 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.
Geographic Presence
The target entity primarily operates in India, with export sales extending to Nepal, Bhutan, and Bangladesh.
Regulatory Approvals
The 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 Structure
The 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.
