13-Oct-2026 14:01:04
GP PETROLEUMS: TO ACQUIRE STAKE IN INCUBIT PIPAVAV TERMINAL FOR ₹44.27 CR
• Company proposes to acquire equity shares in Incubit Pipavav Terminal Private Limited (formerly Gulf Petrochem India) for approximately ₹44.27 crore. • Acquisition will be funded through internal reserves and may be completed in multiple tranches over one year. • Target company operates bulk petroleum and liquid storage facilities at Pipavav Port, Gujarat. • Strategic investment aims to strengthen GP Petroleums' operational presence at Pipavav and improve access to tank storage, rental space and terminal infrastructure. • Target company reported FY26 turnover of ₹38.48 crore, compared with ₹25.32 crore in FY25. • Acquisition is subject to applicable regulatory approvals and completion of agreed conditions. • Final shareholding percentage will depend on the number of shares acquired and applicable regulatory requirements.
GP PETROLEUMS LTD