By Enersider Desk | New Delhi | 29 June 2026
Bharat Petroleum Corporation Limited (BPCL) has signed an agreement to acquire a 40% equity stake in Tiki Tar and Shell India Private Limited (TTSIPL) for ₹85 crore, an official statement by the company on Monday.
The acquisition is expected to be completed within 90 days and has already received approval from the Department of Investment and Public Asset Management (DIPAM).
Image Credit: Logo.wine
TTSIPL, a joint venture between Tiki Tar Group and Shell Gas B.V., operates in the oil and gas sector and product portfolio includes bitumen and bituminous products. The company is involved in the marketing, processing, importing, exporting and sale of bitumen products in India and also exports to Nepal, Bhutan and Bangladesh.
According to BPCL, the acquisition is aimed at capturing the rapidly growing market for Value-Added Bitumen (VAB) in India’s expanding infrastructure sector. The company’s product portfolio includes VG Grade Bitumen, Polymer Modified Bitumen (PMB), Crumb Rubber Modified Bitumen (CRMB), Emulsion and Emulsion OB, which are used in highways and airport runways.
The company reported a turnover of ₹317.76 crore in FY24 which rose to ₹545.16 crore in FY25 before declining to ₹404.60 crore in FY26.
BPCL said, “the transaction does not qualify as a related-party transaction and that neither its promoters nor group companies have any interest in the entity being acquired”.
The acquisition will strengthen BPCL’s presence in the infrastructure sector and support its strategy of expanding into areas linked to India’s infrastructure development in India.
Also Read: NLC India partners with Indian Oil Corp for large-scale green energy projects
