+
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
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code