About Mercator Petroleum
Mercator Petroleum is an Energy & Utilities company based in Mumbai (India) founded in 2022, and was acquired by Indian Oil in November 2023. Petroleum exploration, development, and production services are provided internationally. The company has 8 employees. Its focus areas include Energy, Oil & Gas Upstream and Diversified. Its legal entity in India is Indianoil Upstream Ventures Limited (U11102MH2007PLC170562).
Company details
Mercator Petroleum Ltd. was founded in 2022 as a subsidiary of the Mumbai-based Mercator Limited conglomerate. Activities in the energy sector, including petroleum exploration, development, and production, are conducted in India and overseas. Broader interests of the parent company encompass coal, oil and gas, commodity transportation, and dredging. The entity was acquired by Indian Oil Corporation for around INR 148 crore via an insolvency process.
- Headquarters Mumbai, India
- Employees 8
- Stage Acquired
- SectorsEnergy & Utilities
- Website mercatorpetroleumltd.com
- Acquired by Indian Oil (Nov 2023)
- Legal Name Indianoil Upstream Ventures Limited
- Date of Incorporation 04 May, 2007
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹21,000
FY 2025 · +163% YoY
- Net Profit₹60.41 Cr
FY 2025 · 2876512% margin
- EBITDA-₹10.12 Cr
FY 2025 · -482115% margin
- Investors
- Employee Count8
- Acquired byIndian Oil
(Nov 2023)
Associated legal entities of Mercator Petroleum
Mercator Petroleum is associated with 2 registered companies on The Company Check; the primary company is Indianoil Upstream Ventures Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Indianoil Upstream Ventures Limited CIN U11102MH2007GOI170562 | Active | 04 May 2007 | Mumbai, Maharashtra | ₹0.0 Cr | 8 | 4 | View details |
| Indianoil Upstream Ventures Limited CIN U11102MH2007PLC170562 | 04 May 2007 | Mumbai, Maharashtra, India | View details |
Investors in Mercator Petroleum
Mercator Petroleum has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Indian Oil.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Oil and gas refining, distribution, and marketing services are provided. | 1959 | iocl.com | Delhi, India |
Investor details for Mercator Petroleum
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Board of directors of Indianoil Upstream Ventures Limited (Mercator Petroleum)
Indianoil Upstream Ventures Limited is the primary company behind Mercator Petroleum. The board of Indianoil Upstream Ventures Limited currently have 3 directors; the longest-serving is Ajay Kumar Tiwari, appointed in 2025. 16 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Ajay Kumar Tiwari DIN 11033422 | Nominee Director | 04 Apr 2025 | 1 yr 6 mo | Indianoil Upstream Ventures Limited |
| Puneet Jindal DIN 11261723 | Nominee Director | 02 Sep 2025 | 1 yr 1 mo | Indianoil Upstream Ventures Limited |
| Manisha Gangwar DIN 11262999 | Nominee Director | 02 Sep 2025 | 1 yr 1 mo | Indianoil Upstream Ventures Limited |
People of Mercator Petroleum
1 people are tracked at Mercator Petroleum (1 in leadership); the tracked headcount is 8.
| Name | Role | Group |
|---|---|---|
| Managing Director | Leadership |
Complete people profiles for Mercator Petroleum
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Financials of Mercator Petroleum
Figures of Indianoil Upstream Ventures Limited, the primary company behind Mercator Petroleum, for FY 2025. Revenue was ₹21,000 (+163% year on year). Net profit was ₹60.41 Cr (2876512% margin). EBITDA was -₹10.12 Cr (-482115% margin).
- ₹21,000Revenue · FY 2025 · +163% YoY
- ₹60.41 CrNet profit · 2876512% margin
- -₹10.12 CrEBITDA · -482115% margin
- ₹10 LakhPaid-up capital
- 8Employees (provident fund records)
Balance sheet, profit and loss, cash flow and ratios of Indianoil Upstream Ventures Limited are on its company page.
Detailed financial statements for Mercator Petroleum
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Timeline of Mercator Petroleum
2 dated milestones of Mercator Petroleum across 1 years, from founding to its latest funding, stage changes and deals.
- Founded Mercator Petroleum is founded.
- Exit Acquired by Indian Oil.
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Frequently Asked Questions about Mercator Petroleum
Mercator Petroleum was founded in 2022.
Mercator Petroleum is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Mercator Petroleum has 8 employees.
The primary company behind Mercator Petroleum, Indianoil Upstream Ventures Limited, reported revenue of ₹21,000 for FY 2025, up 163% year on year.
Mercator Petroleum Ltd. was founded in 2022 as a subsidiary of the Mumbai-based Mercator Limited conglomerate. Activities in the energy sector, including petroleum exploration, development, and production, are conducted in India and overseas. Broader interests of the parent company encompass coal, oil and gas, commodity transportation, and dredging. The entity was acquired by Indian Oil Corporation for around INR 148 crore via an insolvency process.
Mercator Petroleum has 1 investor. Key investors include Indian Oil.
Mercator Petroleum operates through Indianoil Upstream Ventures Limited.
Yes. Mercator Petroleum was acquired by Indian Oil in November 2023.
The legal entities of Mercator Petroleum currently have 4 directors, including Ajay Kumar Tiwari, Puneet Jindal, Manisha Gangwar and others.