About Indianoil Upstream Ventures Limited
Data last updated:
Indianoil Upstream Ventures Limited is a public limited union government company based in Mumbai, Maharashtra, India, a subsidiary of Mercator Limited. It operates in the oil and gas exploration and production segment of the energy and power sector. It was incorporated on 04 May 2007 and has been in existence for over 19 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U11102MH2007GOI170562. Its GSTIN is 27AAFCM0608N2ZB (Maharashtra). The company holds 3 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹68.25 Cr and a paid-up capital of ₹10 Lakh. It was formerly known as Mercator Petroleum Private Limited. It is led by directors including Ajay Kumar Tiwari and Puneet Jindal.
Its last annual general meeting (AGM) was held on 26 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.
As per the financials filed for FY 2025, the company reported a revenue of ₹21,000, reflecting significant growth compared to the previous year. For the same year it recorded a net profit of ₹60.41 Cr and EBITDA of -₹10.12 Cr.
The company has about 8 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Mercator Petroleum. As per MCA filings, the company has open charges of ₹130 Cr and satisfied charges of ₹225 Cr on record. Court records list 6 cases involving the company, including 6 filed against it. The company has 8 deals on record (2 funding rounds, 2 convertible or debt financings, 2 secondary share transfers), with disclosed funding of ₹63.58 Cr; the latest was in May 2024.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mercatorpetroleumltd.com.
Company details
Name history
Indianoil Upstream Ventures has undergone 2 name changes throughout its history. The company was previously known as Mercator Petroleum Private Limited, and Indianoil Upstream Ventures Limited. The current legal name is Indianoil Upstream Ventures Limited.
| Company Name | Status |
|---|---|
| Indianoil Upstream Ventures Limited | Current |
| Mercator Petroleum Private Limited | Previous |
CIN history
Indianoil Upstream Ventures has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is U11102MH2007GOI170562, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U11102MH2007GOI170562 | Current |
| U11102MH2007PLC170562 | Previous |
| U11102MH2007PTC170562 | Previous |
Contact details
Indianoil Upstream Ventures Limited's registered office is in Mumbai, Maharashtra.
- Registered AddressRoom No. 718A Marketing Division Head Office, Indian Oil Bhavan G – 9 Ali Yavar Jung Marg, Mumbai, Maharashtra, India – 400051
- IndustryEnergy and Power, Oil & Gas Exploration & Production
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Indianoil Upstream Ventures operates one associated brand: Mercator Petroleum. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Petroleum exploration, development, and production services are provided internationally. | mercatorpetroleumltd.com |
Business activity
The main business activity of Indianoil Upstream Ventures is mining and quarrying. In detail, this covers extraction of crude petroleum & natural gas.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| B | Mining and quarrying | B2 | Extraction of Crude Petroleum & Natural gas |
To see the full business activity and turnover split of Indianoil Upstream Ventures Limited, buy the company report.
Financials of Indianoil Upstream Ventures Limited
FY 2025 filings availableIndianoil Upstream Ventures Limited reported revenue of ₹21,000 (up 163% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue rose 163% in the latest year. EBITDA fell 192% in the latest year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | -₹10.12 Cr | ||||
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| Net Profit (PAT) | ₹60.41 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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To see the full financial statements and ratios of Indianoil Upstream Ventures Limited, buy the company report.
Board of directors of Indianoil Upstream Ventures Limited
Indianoil Upstream Ventures has 3 current directors and 16 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ajay Kumar Tiwari | Nominee Director | 04 Apr 2025 | 1 Years 6 Months | Current |
| Puneet Jindal Also directs: Delhi Aviation Fuel Facility Private Limited | Nominee Director | 02 Sep 2025 | 1 Years 1 Months | Current |
| Manisha Gangwar Also directs: Ioc Phinergy Private Limited | Nominee Director | 02 Sep 2025 | 1 Years 1 Months | Current |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 15 May 2018 | 100242984 | Others | ₹130 Cr | Satisfied | |
| 29 Aug 2016 | 100048164 | Others | ₹95 Cr | Satisfied |
To see the full charge records of Indianoil Upstream Ventures Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
Indianoil Upstream Ventures Limited has 8 deals on record (2 funding rounds, 2 convertible or debt financings, 2 secondary share transfers), with disclosed funding of ₹63.58 Cr; the latest was in May 2024.
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| May 2024 | Acquisition | ₹10 Lakh | Buyer: Indian Oil Corporation Limited |
| Dec 2015 | Acquisition | ₹30.63 Cr | Buyer: Mercator Limited |
| Jun 2014 | Funding round | ₹29.9 Cr | Investors: Mercator Limited , Mercator Energy Pte Limited |
| Sep 2013 | Secondary share transfer | Undisclosed | Buyer: Mercator Limited Seller: Optimum Oil & Gas Private Limited |
| May 2009 | Funding round | ₹9 Lakh | Investors: Mercator Limited , Optimum Oil & Gas Private Limited |
To see the full deal history of Indianoil Upstream Ventures Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Indianoil Upstream Ventures Limited has 6 court cases on record: 6 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 4 | 4 | 0 |
| NCLT | 2 | 2 | 0 |
Cases on record (5 of 6)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLT, Mumbai | Insolvency matter | Filed against the company by Ogd Services Ltd | Disposed |
| Bombay High Court | Commercial suit | Filed against the company by Mercator Ltd. and 3 Ors. | Disposed |
| Bombay High Court | Interim or miscellaneous application | Filed against the company by State Bank of India and Anr. | Disposed |
| High Court, MAHARASHTRA | Arbitration matter | Filed against the company by State Bank of India | Disposed |
| NCLT, Mumbai | Insolvency matter | Filed against the company by Halliburton Offshore Services Inc | Disposed |
To see the full case history of Indianoil Upstream Ventures Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Indianoil Upstream Ventures Limited was last rated by Care on 11 Jul 2019.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 11 Jul 2019 |
To see the full credit ratings and regulatory alerts of Indianoil Upstream Ventures Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Indianoil Upstream Ventures Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Indianoil Upstream Ventures has 3 GST registrations: 1 active and 2 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAFCM0608N2ZB | Maharashtra | Active | 11 Aug 2021 |
To see the full GST registrations and return filing status of Indianoil Upstream Ventures Limited, buy the company report.
Recent activity
Indianoil Upstream Ventures Limited has 19 board changes on record since 2009: 3 appointments and 16 cessations. The latest: Gagan Deep Singh Kohli ceased to be Nominee Director on 02 Sep 2025.
14 earlier events are in the company report.
News
Frequently asked questions
Indianoil Upstream Ventures is an active public limited union government company based in Mumbai, Maharashtra, India. The company works in oil and gas exploration and production, within the energy and power industry. It was incorporated on 04 May 2007 (19+ years old) and is registered under CIN U11102MH2007GOI170562.
Indianoil Upstream Ventures has 3 current directors:
- Ajay Kumar Tiwari - Nominee Director
- Puneet Jindal - Nominee Director
- Manisha Gangwar - Nominee Director
The latest financial statements of Indianoil Upstream Ventures on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 26 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Indianoil Upstream Ventures is 27AAFCM0608N2ZB, registered in Maharashtra. The company has 3 GST registrations in all, of which 1 is active and 2 are cancelled or inactive.
The CIN (Corporate Identification Number) of Indianoil Upstream Ventures is U11102MH2007GOI170562. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Indianoil Upstream Ventures has 6 court cases on record: 6 filed against it. Most are in the high courts.
Indianoil Upstream Ventures was incorporated on 04 May 2007, making it 19+ years old. It is registered with the Registrar of Companies, Mumbai.
Indianoil Upstream Ventures has 8 deals on record (2 funding rounds, 2 convertible or debt financings, 2 secondary share transfers), with disclosed funding of ₹63.58 Cr; the latest was in May 2024.
Gagan Deep Singh Kohli ceased to be Nominee Director on 02 Sep 2025. Manisha Gangwar was appointed as Nominee Director on 02 Sep 2025. Puneet Jindal was appointed as Nominee Director on 02 Sep 2025. Indianoil Upstream Ventures has 19 board changes on record in total.
Indianoil Upstream Ventures can be reached through the website mercatorpetroleumltd.com. Its registered office is in Mumbai, Maharashtra, India.