BPCL to acquire 40% stake in Tiki Tar And Shell India for Rs 85 crore

New Delhi, June 30: Government-owned Bharat Petroleum Corporation (BPCL) will buy 40 per cent equity stake in Tiki Tar and Shell India (TTSIPL) for Rs 85 crore.

The deal has already received clearance from the Department of Investment and Public Asset Management (DIPAM) and is expected to close within 90 days, BPCL said in a regulatory filing on Monday.

The company clarified that the transaction does not qualify as a related-party deal.

BPCL said the investment fits its broader strategy of capturing rising demand for value-added bitumen, a market being driven by India’s ongoing infrastructure push.

Founded in October 2019, TTSIPL manufactures and markets bitumen and bituminous products used in highway and airport runway construction.

The joint venture will target government contracts under the Bharatmala Pariyojana highway programme, as well as Public Works Department projects.

Financially, TTSIPL posted revenue of Rs 404.6 crore in FY26, down from Rs 545.2 crore in FY25 and up from Rs 317.8 crore in FY24.  (BVI)