BPCL to Acquire 40% Stake in Tiki Tar & Shell India; Shares Fall

Mumbai, June 29: Bharat Petroleum Corporation Ltd (BPCL) has signed a definitive agreement to acquire a 40% equity stake in Tiki Tar and Shell India Private Ltd (TSIPL) for ₹85 crore, according to an exchange filing on Monday.

TSIPL is a joint venture between Tiki Tar Group and Shell Gas B.V. and operates in the marketing, processing, procurement, import and export of bitumen and value-added bituminous products.

BPCL said the acquisition is part of its strategy to strengthen its presence in the value-added bitumen (VAB) segment, which is expected to benefit from rising infrastructure development across India. The company believes the investment will help it tap into growing demand for specialised bitumen products used in highways, airports and other infrastructure projects.

The transaction will be completed through a cash consideration of ₹85 crore, with the acquisition expected to close within 90 days, subject to the fulfilment of customary conditions. The company also said the required approval from the Department of Investment and Public Asset Management (DIPAM) has already been obtained.

Following completion, BPCL will hold a 40% stake in TSIPL. The company clarified that the transaction does not qualify as a related-party transaction.

Stock Market Snapshot

BPCL shares traded lower despite the strategic acquisition announcement.

As of 14:25 IST on June 29, 2026, BPCL shares were trading at ₹300.60, down ₹9.15 or 2.95%. The BPCL share price remained under pressure during Monday’s session even as the company announced a strategic investment to expand its downstream portfolio.

While acquisitions may not have an immediate impact on earnings, investors typically monitor such transactions for their long-term contribution to business diversification and growth.

Company Background

Bharat Petroleum Corporation Ltd is one of India’s leading oil marketing companies, engaged in refining crude oil, marketing petroleum products and expanding its presence in adjacent energy businesses.

The company has been diversifying beyond its traditional fuel business through investments in petrochemicals, natural gas, renewable energy and value-added products as it seeks to strengthen its long-term growth profile.

Conclusion

BPCL’s acquisition of a 40% stake in Tiki Tar and Shell India marks another step in its strategy to deepen its presence in the specialised bitumen segment. With India’s infrastructure pipeline continuing to expand, the investment could strengthen BPCL’s position in the value-added bitumen market and create new opportunities for growth over the long term.

Source:

• https://www.nseindia.com/get-quote/equity/BPCL/Bharat-Petroleum-Corporation-Limited
• https://nsearchives.nseindia.com/corporate/BPCL22_29062026141604_stexintimationacqu29626s.pdf