New Delhi, July 3 -- Tata Group's UK-based battery firm, Agratas Ltd, will draw £1.15 billion ( Rs.14,000 crore) in loans from a consortium of banks, which has approved increasing the amount by 53% from the earlier agreed £750 million ( Rs.9,500 crore) and has also pushed back the deadline for repayment as the company prepares to supply its first batteries to Jaguar Land Rover (JLR).

Filings with UK's company registrar reviewed by Mint show lenders have extended the repayment deadline on the loans from July 2026 to September 2027, with an option to further increase the loan beyond £1.1 billion and extend repayment until March 2028.

The additional funding comes after Agratas secured a £380 million grant from the UK go...