BPCL buys 40% of bitumen venture Tiki Tar and Shell India for ₹85 crore
What's the deal? Bharat Petroleum Corporation LimitedDealroom has a profile for this one. Try Dealroom → (BPCL) signed an agreement on June 29, 2026 to acquire a 40% equity stake in Tiki Tar and Shell IndiaDealroom has a profile for this one. Try Dealroom → Private Limited (TTSIPL) for ₹85 crore in cash. TTSIPL is a joint venture between the Tiki Tar Group and Shell Gas BV.
What does the target do? Established in October 2019, TTSIPL markets, processes, imports, exports, and sells bitumen and bituminous products. Its portfolio includes VG grade bitumen, polymer modified bitumen, crumb rubber modified bitumen, and emulsion products used in highways and airport runways.
Why now? The deal has already received clearance from the Department of Investment and Public Asset Management. It is expected to close within 90 days of signing.
The signal: The stake buy extends BPCL's reach into bitumen, a segment tied to India's road and airport construction. Partnering with an existing Tiki Tar–Shell venture gives the state-owned refiner a foothold in specialised products without building from scratch.
Read more: Edristi
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