GP Petroleums Acquires Incubit Pipavav for ₹44.27 Cr; New CFO Appointed

GP Petroleums Ltd's Board of Directors, in a meeting on October 13, 2026, approved the acquisition of equity shares of Incubit Pipavav Terminal Private Limited (IPTPL) for an aggregate consideration of ₹44,26,97,141 (₹44.27 Crore). This strategic investment, aimed at enhancing infrastructure, will be funded from internal reserves and acquired in multiple tranches over one year. Concurrently, Mr. Arjun Verma resigned as Chief Financial Officer (CFO) effective October 15, 2026, though he will continue as Whole Time Director (Executive Director). Mr. Shirish Suvagia has been appointed as the new CFO and Key Managerial Personnel (KMP) of the company, also effective October 15, 2026.