nanika Editor

Shapoorji Pallonji Group (SP Group) continues to face funding pressure as it seeks an additional ₹3,500 crore to meet a debt payment due in October, amid uncertainty over the future of Tata Sons and the potential monetization of its roughly 18% stake in the Tata Group’s holding company. The group is reportedly in talks with lenders to exercise a greenshoe option on an existing ₹21,350 crore financing facility, with Deutsche Bank expected to provide a substantial portion of the additional funding. SP Group has also sought to extend the repayment deadline and is seeking a further extension of the 40%…

PhonePe has received in-principle approval from the UAE central bank for two licences covering retail payment services, card schemes and stored value facilities, marking a step toward the Indian fintech company's entry into the Gulf market. The Walmart-backed company said the approval followed initial regulatory due diligence, but it still requires final approval from the UAE central bank before beginning commercial operations. Once final clearance is secured, PhonePe said it plans to work with regional banks, licensed payment service providers and local technology vendors. Launched in 2016, PhonePe operates a digital payments platform that enables users to recharge, pay bills…

Starbucks is planning to establish a Global Capability Centre (GCC) in Chennai, with the facility expected to create around 800 jobs in its first phase, according to a Tamil Nadu government source. The move adds to Chennai’s growing reputation as a hub for global corporate technology and business operations. Starbucks currently operates around 500 cafes in India through its joint venture with Tata Consumer Products. The company had not immediately responded to requests for comment. The planned centre comes shortly after US pharmacy chain Walgreens announced an agreement with the Tamil Nadu government to set up its own GCC in…

The Shapoorji Pallonji Group (SP Group), which holds around 18.4% in Tata Sons, has backed the listing of the Tata Group’s principal holding company, saying it plans to work “closely and constructively” towards the move. SP Group chairman Shapoorji Pallonji Mistry said the Reserve Bank of India’s recent clarification on Tata Sons’ regulatory status provides greater clarity and argued that a listed Tata Sons could enhance transparency, accountability and the ability of Tata Trusts to pursue their philanthropic activities. The development comes amid differing views within Tata Sons’ ownership structure, with Tata Trusts chairman Noel Tata opposing a public listing,…

PepsiCo says its global sustainability programme, PepsiCo Positive (pep+), is delivering measurable business and environmental progress, with India emerging as a key market for further expansion. According to the company’s 2025 ESG Performance Update, regenerative, restorative and protective farming practices have been extended to 4.7 million acres across more than 60 countries, while PepsiCo has achieved 100 per cent water replenishment at company-owned facilities in high-water-risk areas and reduced virgin plastic use in primary packaging by 6 per cent. In India, the programme operates under the company’s “Partnership for Progress” approach, engaging around 36,000 farmers across 14 states. PepsiCo said…

Samsung India’s head of public affairs and ESG, Rajiv Aggarwal, has resigned after nearly four years with the South Korean technology giant, according to two sources familiar with the matter. Aggarwal, 57, is serving his final week at Samsung India after overseeing the company’s engagement with the Indian government and its public policy matters. The reason for his resignation remains unclear. A former Indian bureaucrat, Aggarwal has previously held senior roles at companies including Uber and Meta. He declined to comment on his departure, while Samsung Electronics did not respond to requests for comment. His exit comes at a time…

Info Edge (India) Ltd has announced significant changes to its senior leadership and board, appointing Himanshu Agarwal as Chief Financial Officer (CFO) and Whole-time Director, effective September 17, 2026. The appointment comes as Ambarish Raghuvanshi, who took over as Interim CFO in November 2025, prepares to transition to the role of Finance Advisor and Senior Management Personnel. Raghuvanshi will continue in these positions until October 31, 2026, to support a smooth transition. The company has also appointed Naresh Chand Gupta, former Managing Director of Adobe Systems India, as an Additional Director and Non-Executive Independent Director for a five-year term beginning…

A consortium of Indian lenders led by the State Bank of India (SBI) has agreed to extend approximately $3.5 billion (₹29,000+ crore) in debt financing to Vodafone Idea Ltd. (Vi) to support the cash-strapped telecom operator’s business turnaround. According to sources familiar with the matter, the banking group also includes Union Bank of India Ltd. and the National Bank for Financing Infrastructure and Development (NaBFID). The loss-making operator—India’s third-largest wireless provider by subscribers—intends to utilize the 10-year loan package to upgrade its network infrastructure and improve market competitiveness against top rivals Reliance Jio Infocomm Ltd. and Bharti Airtel Ltd. The…