upGrad to acquire Unacademy in all-stock deal, Gaurav Munjal to remain CEO
India Today
The acquisition signals a major consolidation in India's online education space, bringing together two leading edtech players under a unified, AI-driven growth strategy.
Edtech major upGrad has taken a decisive step toward consolidation in India's online education sector by signing a term sheet to acquire rival Unacademy in a 100 per cent share-swap transaction. The deal is aimed to merge operations while keeping Unacademy's founder Gaurav Munjal at the helm.
Announcing the development on X, upGrad chairman Ronnie Screwvala said the agreement includes a break fee in case the deal does not close.
"We at upGrad have signed a term sheet to acquire Unacademy in an all-stock deal, with Founder and CEO Gaurav Munjal staying on to build Unacademy and focus on what it does best, creating online education products that learners love. We have also agreed to a break fee were we not close," Screwvala said.
"They disrupted the sector once, and now with AI they plan to do it again. We are already seeing Airlearn gain global traction. If this closes. upGrad’s integrated model with an expanded focus from K12 to forever learning will be on a strong trajectory," he added.
Unacademy founder Gaurav Munjal also confirmed he would continue as CEO and praised upGrad's journey.
He said both companies share the belief that "the whole is bigger than the sum of parts" and that their combined efforts would benefit students, learners, and working professionals while creating strong educational products across all stages of learning.
Sensex has declined over 6,000 points or roughly 7.5% in a little over two weeks as global tensions and rising oil prices triggered selling in equities.
Speaking in Parliament, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said India has adequate fuel stocks, and there is no cause for concern over availability.
Industry sources told India Today TV that airline operators are now paying additional insurance charges for every aircraft flying into the Middle East, significantly increasing the cost of operations on these routes.
Under law, a domestic household is generally allowed to keep two LPG cylinders of 14.2 kg each at a time. This usually includes one cylinder connected for use and another spare cylinder kept as backup.
Early signals from GIFT Nifty suggest that the benchmark indices could open lower when trading begins. GIFT Nifty futures were trading at 23,784.50 at around 7:58 am. This indicates that the Nifty 50 may open below Wednesday's closing level of 23,866.85.
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The move comes as global energy markets remain on edge due to escalating tensions linked to the conflict involving Iran, which has raised fears of disruptions to crude oil shipments from the Middle East.
India consumes roughly 5.3 to 5.5 million barrels of crude oil every day. However, domestic production is only about 0.6 million barrels per day. This means the country depends on imports for nearly 85% of its oil needs.
At around 10:47 am, the BSE Sensex was down 750.68 points or 0.96% at 77,455.30, while the Nifty 50 slipped 208.25 points or 0.86% to 24,053.35.
Air India said the fuel surcharge is due to the sharp rise in aviation turbine fuel (ATF) prices since early March 2026, triggered by supply disruptions in the Gulf region.
Rahul Bhatia expressed gratitude to employees who worked tirelessly to restore operations during that challenging period, praising their resilience and dedication.
The Iran-US conflict has disrupted shipping through a key global oil export route, pushing oil prices higher. As a result, airline tickets on some routes have become much more expensive, and there are growing concerns that travel demand could weaken if the situation continues.