IDBI Capital Markets & Securities Ltd. (ICMS) has been appointed as Consultant by Bharat Petroleum Corporation Ltd. (BPCL) for BPCL ANKUR FUND, which is established to make investments in high-potential early-stage startups, primarily those working in sectors aligned with BPCL’s business areas.
BPCL has been a pioneer in supporting startups through its initiative “Ankur”. Since 2016, it has supported 30 startups with grant funding of approximately Rs. 28 crores. This initiative is part of BPCL’s broader efforts to cultivate a supportive ecosystem that fosters entrepreneurship and innovation in the country.
As a leading financial and investment advisory firm, IDBI Capital Market & Securities Ltd. (ICMS) will play a crucial role in evaluating startup proposals, conducting due diligence, and overseeing post-investment monitoring. Additionally, ICMS will provide expert financial guidance to ensure that the most promising startups receive the necessary investments and strategic support for scaling their solutions effectively.
As the consultant for BPCL ANKUR FUND, IDBI Capital Market & Securities Ltd. (ICMS) will play a pivotal role in evaluating startup proposals, assisting with due diligence, and conducting post-investment reviews and monitoring. The Investment team is led by Mr. Amey Belorkar and Mr. Ananta Padmanabhan Sarma, who are supported by a seasoned team comprising Mr. Vikram Jain and Mr. Neville Rodrigues.
BPCL through its ‘BPCL Ankur Fund’ is inviting startups to participate in the “Emerge” cohort. Startups should have developed a Proof of Concept (PoC)/ prototype/ Minimum Viable Product (MVP), or fully implemented solution in the Oil & Gas sector or any other industry and are now ready to expand into Oil & Gas. The deadline to submit applications is April 10, 2025.
The applications for the Emerge cohort are open across two key themes, “Energy Efficiency” and “City Gas Distribution (CGD)”. The first , Energy Efficiency theme focuses on innovative solutions that optimize energy consumption, enhance sustainability, and reduce greenhouse gas emissions within the oil and gas sector. This includes advancements such as AI-powered energy management, predictive maintenance of equipment, heat transfer optimization, and waste heat recovery solutions, among other innovative technologies.
The second theme, Innovation in City Gas Distribution (CGD), theme focuses on cutting-edge technologies that enhance customer experience, operational efficiency, safety, last-mile connectivity, and project execution. This includes solutions like smart metering, pipeline monitoring & leak detection, predictive maintenance, and AI-driven project execution tools, among other emerging technologies.
IDBI Capital Market & Securities Ltd. (ICMS) and BPCL Ankur Fund invites applications from eligible early-stage startups that are working under the specified themes. Selected startups can receive an investment of up to ₹5 crores through funding modes such as equity, Compulsory Convertible Preference Shares (CCPS), etc., with a maximum stake of 20%.