GP Petroleums Acquires Incubit Pipavav Terminal for ₹44.27 Crore
GP Petroleums Ltd announced a strategic acquisition of Incubit Pipavav Terminal Private Limited (IPTPL) for an aggregate consideration of INR 44,26,97,141 (INR 44.27 Crore). This acquisition aims to strengthen the company's presence at Pipavav and leverage IPTPL's tank storage and terminal facilities. The board also approved the execution of a Share Purchase Agreement and Shareholders' Agreement. Additionally, the company announced the resignation of Mr. Arjun Verma as CFO, effective October 15, 2026, while he continues as Executive Director. Mr. Shirish Suvagia has been appointed as the new CFO from the same date. The company also updated its list of Key Managerial Personnels authorized for disclosures.
Key Highlights
- GP Petroleums to acquire Incubit Pipavav Terminal for ₹44.27 Crore.
- Acquisition aims to enhance strategic and operational presence at Pipavav.
- Mr. Arjun Verma resigns as CFO, continues as Executive Director.
- Mr. Shirish Suvagia appointed as new CFO effective October 15, 2026.
- Updated list of authorized Key Managerial Personnels for disclosures.
Price Impact
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