New Delhi: Bharat Petroleum Corporation Ltd. on Monday said it will acquire a 40% equity stake in Tiki Tar and Shell India Pvt. Ltd. for Rs 85 crore in cash, as part of its strategy to expand in India’s value-added bitumen market.

The acquisition has received approval from the Department of Investment and Public Asset Management and is expected to be completed within 90 days, the company said in a regulatory filing. BPCL also said the transaction is not a related-party deal.

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Incorporated in October 2019, Tiki Tar and Shell India manufactures and markets bitumen and bituminous products used in highways and airport runways. Its product portfolio includes VG Grade Bitumen, Polymer Modified Bitumen, Crumb Rubber Modified Bitumen and emulsions.

The company also exports to Nepal, Bhutan and Bangladesh, giving BPCL exposure to a business with both domestic and regional market presence.

BPCL said the investment is aligned with rising demand for value-added bitumen, supported by India’s infrastructure build-out and road expansion programme.

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Tiki Tar and Shell India reported revenue of Rs 404.6 crore in FY26, compared with Rs 545.2 crore in FY25 and Rs 317.8 crore in FY24. The company has an authorised share capital of Rs 37 crore and a paid-up capital of about Rs 36.1 crore.

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