Bharat Petroleum Acquires 40% Stake in Tiki Tar and Shell India JV for Value-Added Bitumen Market Share
Bharat Petroleum Corporation Limited (BPCL) has entered a strategic acquisition, signing an agreement on June 29, 2026, to acquire a 40% equity stake in Tiki Tar and Shell India Private Limited (TTSIPL). The move is strategically aimed at capturing the rapidly expanding market for Value-Added Bitumen (VAB) within India's infrastructure sector.The acquisition involves BPCL acquiring a 40% interest in TTSIPL, which operates as a joint venture between Tiki Tar Group and Shell Gas B.V. The transaction has been structured as a cash consideration deal, with the cost set at Rs.85 Crores. Furthermore, BPCL confirmed that all necessary DIPAM approval for the acquisition has been obtained. Indicatively, the completion period for this acquisition is set at 90 days.
The target entity, TTSIPL, was incorporated on October 11, 2019. The company operates in the Oil and Gas industry and specializes in the marketing, processing, purchasing, importing, exporting, and selling of bitumen and bituminous products primarily across India. Its product portfolio includes VG Grade Bitumen, Polymer Modified Bitumen (PMB), Crumb Rubber Modified Bitumen (CRMB), Emulsion, and Emulsion OB. TTSIPL also extends its export sales into Nepal, Bhutan, and Bangladesh.
A summary of the core details relating to BPCL’s acquisition is provided below:
| Detail | Description |
|---|---|
| Target Entity | Tiki Tar and Shell India Private Limited (TTSIPL) |
| Industry | Oil and Gas |
| Acquired Stake | 40% |
| Cost of Acquisition | Rs.85 Crores (Cash Consideration) |
| Strategic Rationale | Capture the growing market for Value-Added Bitumen (VAB) in India's infrastructure sector. |
| Timeline | 90 days (Indicative completion period) |
TTSIPL Historical Performance
The company, which is a private limited entity registered under the Registrar of Companies in Mumbai, has demonstrated consistent growth in its market operations over the past three years. The following table details the historical turnover recorded by Tiki Tar and Shell India Private Limited:| Financial Year End | Turnover (INR) |
|---|---|
| March 2024 | 317.76 Crores |
| March 2025 | 545.16 Crores |
| March 2026 | 404.60 Crores |
BPCL Stock Price Movement
Shares of Bharat Petroleum Corporation Limited are slipping as of 3:13 PM, having shed 2.73% in live trading and currently registering a price of ₹301.3. The stock’s value has been tested within an intraday range between ₹299.75 and ₹309, amid significant volume activity during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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