Bharat Petroleum Corporation Ltd has signed an agreement to acquire a 40% equity stake in Tiki Tar and Shell India Private Limited (TTSIPL) for Rs.85 Crores. The strategic move aims to capture the rapidly growing market for Value-Added Bitumen (VAB) in India's infrastructure sector. The transaction is expected to be completed within 90 days, following the receipt of DIPAM approval.

Strategic Rationale

The acquisition is driven by the need to strengthen Bharat Petroleum's position in the value-added bitumen segment. TTSIPL, a joint venture between Tiki Tar Group and Shell Gas B.V., offers a product portfolio including VG Grade Bitumen, Polymer Modified Bitumen (PMB), and Crumb Rubber Modified Bitumen (CRMB). These products are essential for highways and airport runways, representing a higher-margin business compared to conventional bitumen.

Target Entity Profile

Tiki Tar and Shell India Private Limited was incorporated on 11 October 2019 and operates in the oil and gas industry. The company markets, processes, and sells bitumen products primarily in India, with export sales extending to Nepal, Bhutan, and Bangladesh. Its authorized share capital is Rs. 370000000.00, and its paid-up capital is Rs. 360869560.00.

Financial Performance

The target entity has demonstrated significant revenue activity over the past three years. The turnover figures according to its financial records are as follows:

Transaction Details

The acquisition is structured as a cash consideration deal. Bharat Petroleum will pay Rs.85 Crores to secure the 40% equity stake in TTSIPL. The deal does not constitute a related party transaction, and the requisite governmental approvals, including DIPAM, have already been obtained.

Srividya V. has ceased to be the Senior Management Personnel of bharat petroleum effective June 24, 2026, following her appointment as Director (Finance) of Hindustan Petroleum Corporation Limited. The transition marks a significant change in the senior leadership structure of the energy major, with the executive moving to a key financial role at a peer public sector undertaking.

The disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification, signed by Company Secretary V. Kala, confirmed that the exit from the senior management role was directly linked to the new appointment at Hindustan Petroleum Corporation Limited.

Personnel Change Details

The filing provides specific details regarding the nature and timing of the exit from the company: