Bharat Petroleum Corp (BPCL). File.
| Photo Credit: Reuters
State-run Bharat Petroleum Corporation on Monday (June 29, 2026) said it will acquire a 40% equity stake in Tiki Tar and Shell India for ₹85 crore in cash, as it seeks to expand its presence in India’s fast-growing value-added bitumen market.
The acquisition, which has received approval from the Department of Investment and Public Asset Management (DIPAM), is expected to be completed within 90 days, Bharat Petroleum Corporation Ltd (BPCL) said in a regulatory filing.
The transaction is not a related-party deal.
Incorporated in October 2019, Tiki Tar and Shell India Pvt Ltd (TTSIPL) manufactures and markets bitumen and bituminous products used in highways and airport runways.
Its portfolio includes VG Grade Bitumen, Polymer Modified Bitumen (PMB), Crumb Rubber Modified Bitumen (CRMB), and emulsions.
The company also exports to Nepal, Bhutan and Bangladesh.
BPCL said the investment aligns with its strategy to tap growing demand for value-added bitumen driven by India’s infrastructure expansion.
TTSIPL reported a revenue of ₹404.6 crore in FY26 compared to ₹545.2 crore in FY25 and ₹317.8 crore in FY24. The company has an authorised share capital of ₹37 crore and a paid-up capital of about ₹36.1 crore.
Published – June 29, 2026 03:30 pm IST
