+
BPCL to Buy 40 Per Cent Stake in Tiki Tar, Shell India for Rs 850 mn
ECONOMY & POLICY

BPCL to Buy 40 Per Cent Stake in Tiki Tar, Shell India for Rs 850 mn

Bharat Petroleum Corporation Ltd (BPCL) will acquire a 40 per cent equity stake in Tiki Tar and Shell India Pvt Ltd (TTSIPL) for Rs 850 million (mn) in cash, the company said on Monday. The purchase is intended to expand BPCL's presence in India's value added bitumen market that supplies highways and airport runways. The acquisition has received approval from the Department of Investment and Public Asset Management and is expected to be completed within 90 days according to a regulatory filing.

Tiki Tar and Shell India was incorporated in October 2019 and manufactures and markets bitumen and bituminous products used in road and runway construction. The transaction will make BPCL a significant minority investor in TTSIPL while Shell India will retain the remaining shareholding. BPCL will finance the deal from internal accruals and the investment is aligned with its strategy to grow higher margin product offerings.

Analysts view the move as part of a wider industry trend where refiners and fuel retailers seek downstream diversification into specialised bitumen grades and related services. The market for value added bitumen has shown steady demand driven by public infrastructure spending and airport upgrades across the country. BPCL's entry is expected to support domestic supply chains and provide technical and commercial synergies with its existing lubricants and bitumen businesses.

The companies did not disclose detailed commercial terms beyond the price and stake but regulatory documents set out the approval timeline and closing conditions. BPCL will continue to report results and any material developments through statutory filings as required by market regulators. The deal follows several recent transactions in the sector as players reposition to capture opportunities in construction and infrastructure material supply.

Bharat Petroleum Corporation Ltd (BPCL) will acquire a 40 per cent equity stake in Tiki Tar and Shell India Pvt Ltd (TTSIPL) for Rs 850 million (mn) in cash, the company said on Monday. The purchase is intended to expand BPCL's presence in India's value added bitumen market that supplies highways and airport runways. The acquisition has received approval from the Department of Investment and Public Asset Management and is expected to be completed within 90 days according to a regulatory filing. Tiki Tar and Shell India was incorporated in October 2019 and manufactures and markets bitumen and bituminous products used in road and runway construction. The transaction will make BPCL a significant minority investor in TTSIPL while Shell India will retain the remaining shareholding. BPCL will finance the deal from internal accruals and the investment is aligned with its strategy to grow higher margin product offerings. Analysts view the move as part of a wider industry trend where refiners and fuel retailers seek downstream diversification into specialised bitumen grades and related services. The market for value added bitumen has shown steady demand driven by public infrastructure spending and airport upgrades across the country. BPCL's entry is expected to support domestic supply chains and provide technical and commercial synergies with its existing lubricants and bitumen businesses. The companies did not disclose detailed commercial terms beyond the price and stake but regulatory documents set out the approval timeline and closing conditions. BPCL will continue to report results and any material developments through statutory filings as required by market regulators. The deal follows several recent transactions in the sector as players reposition to capture opportunities in construction and infrastructure material supply.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

India’s Global CE Connect

India’s construction equipment industry is entering a phase where scale is increasingly being matched by productivity, technology, localisation and lifecycle economics. Against this backdrop, bauma ConExpo India 2026, scheduled for September 15-18 at the India Expo Centre, Greater Noida, will bring the global and Indian construction machinery ecosystem together.The eighth edition is expected to be the largest yet, with the exhibition sold out across around 1.45 million sq ft. More than 1,100 exhibitors from over 100 countries are expected to participate, with visitor numbers projected to exc..

Next Story
Real Estate

Orris, Godrej Properties Settle Dispute Over Gurugram Project

Orris Infrastructure and Godrej Properties Limited have reached an amicable settlement over matters related to the jointly developed Godrej Air project in Gurugram, bringing an end to the dispute between the two companies.The Bombay High Court, while hearing a petition filed by Orris Infrastructure, ordered the immediate and unconditional release of Orris Managing Director Amit Gupta on August 25, 2026, after being informed about the settlement agreement between the parties.A single-judge bench led by Justice Milind N. Jadhav noted that in view of the settlement agreement signed by both compan..

Next Story
Infrastructure Urban

Panasonic Launches Second Cycle of Startup Co-Creation Programme

Panasonic Life Solutions India (PLSIND), through its IGNITION Open Innovation platform, has announced the second cycle of Co.lab Studio, a startup collaboration initiative focused on developing scalable digital services and solutions.The new cycle will focus on Safety & Security and Daily Living solutions for communities by leveraging Panasonic’s AI and IoT-enabled connected living platform, MirAIe. The programme aims to help startups move from innovation concepts to pilot deployments, platform integrations and commercialisation-ready solutions.The first cycle of Co.lab Studio received 1..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code