Vedanta Resources is seeking to top up its existing $350 million loan facility by at least $200 million, bringing the potential total to $550 million or more. The company is in active discussions with Sumitomo Mitsui Banking Corp. and First Abu Dhabi Bank to join the expanded facility, adding two significant institutional lenders to the structure. The $350 million base deal was arranged earlier this year, and this top-up represents a continuation of the company's broader effort to manage its substantial debt load. Proceeds from the enlarged facility are earmarked for refinancing existing obligations, covering transaction costs, and addressing general corporate requirements. The move reflects Vedanta's ongoing strategy of actively rotating and restructuring its debt rather than reducing gross borrowings outright. Investors and creditors will watch whether additional banks join the syndicate and whether the final raise meets or exceeds the $200 million floor, as both signals bear on the group's access to international credit markets.
Flipkart will launch a food delivery pilot in Bengaluru by mid-August, charging restaurants a 10-11% commission compared to the 25-35% levied by Swiggy and Zomato. The move targets growing restaurant discontent with incumbent platforms and aims to drive daily engagement across Flipkart's 500 million registered users.
Maruti Suzuki crossed two lakh domestic units in July 2026 for the first time, recording 42.4% year-on-year growth. Total sales including exports and OEM supplies reached 2,41,421 units, with all passenger vehicle segments posting gains.
Air India's net loss more than doubled to ₹22,238 crore in FY26, prompting Tata Sons chairman N Chandrasekaran to extend the Vihaan.AI turnaround timeline from five years to as long as a decade.
UpGrad's all-stock acquisition of Unacademy, valued at Rs 1,955 crore, is set to close within three weeks after CCI clearance and near-complete investor sign-offs. The deal combines upGrad's upskilling business with Unacademy's test prep and medical education platforms, with Gaurav Munjal staying on as CEO.
