500 crore – Artifex.News https://artifex.news Stay Connected. Stay Informed. Tue, 10 Mar 2026 04:52:00 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://artifex.news/wp-content/uploads/2026/05/cropped-cropped-app-logo-32x32.png 500 crore – Artifex.News https://artifex.news 32 32 Four astronomy facilities announced in Union Budget to cost ₹3,500 crore, to be completed over a period of three to 13 years https://artifex.news/article70722847-ece/ Tue, 10 Mar 2026 04:52:00 +0000 https://artifex.news/article70722847-ece/ Read More “Four astronomy facilities announced in Union Budget to cost ₹3,500 crore, to be completed over a period of three to 13 years” »

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A file photo of visitors at an exhibition at Indian Institute of Astrophysics (IIA) in Bengaluru. All these projects will be overseen by the Bengaluru-based IIA.
| Photo Credit: File photo

The construction and upgrade of the four major astronomical facilities, which was announced in the Union Budget, is expected to cost about ₹3,500 crore, and a proposal for approval of the project will be placed before the cabinet.

A Department of Science and Technology official, while participating in the post-budget webinar on Telescope Infrastructure Facilities, on March 9 said, “We are at a stage where we will get approval from the expenditure finance committee and then it goes to the cabinet for approval. Any project over ₹1,000 crore needs to get approval from the cabinet. These four projects put together will be in the range of ₹3,500 crore,” he said.

The four projects announced in the Union Budget to promote Astrophysics and Astronomy via immersive experiences, are the National Large Solar Telescope (NLST), the National Large Optical infrared Telescope (NLOT), the upgraded Himalayan Chandra Telescope (uHCT) at Hanle in Ladakh, and the Cosmology Education and Research Training Centre (COSMOS 2) Planetarium. All these projects will be overseen by the Bengaluru-based Indian Institute of Astrophysics (IIA).

IIA Director Professor Annapurni Subramaniam, who moderated the session on the telescope infrastructure facilities, gave an outline of the four projects, which will be completed over a period of three to 13 years.

The NLST project, which is a two-metre telescope, will come up at Merak in Ladakh. Prof. Annapurni said that the NLST will be India’s next generation window to the Sun.

“The timeline for completing this project is five years. It will serve as the vital ground-based counterpart to the Aditya-L1 mission, providing high resolution magnetic maps. It will be strategically located to fill the observational void between major facilities in the USA and Europe enabling 24/7 global solar surveillance,” she said.

On the NLOT, she said that the project goal is to establish India’s first segmented mirror large aperture optical infrared observatory, which will enable frontier science in the era of multi-messenger multi-wavelength astronomy.

She said that the total duration of the project is 13 years, and the target first light will be in the year 2038.

Prof. Annapurni added that the uHCT at Hanle will be upgraded with multiplexing capability for key science drivers. such as spectroscopic classification of transients, milky way stellar populations, galaxy redshift surveys and active galactic nuclei demographics.

COSMOS 2 is expected to come up in three years in Amaravati, Andhra Pradesh. IT will have a 15-metre LED tilted dome with 15 degree inclination, and 150-seat sky theatre.

Published – March 10, 2026 10:22 am IST



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]]> Zomato raises ₹8,500 crore via Qualified Institutional Placement at ₹252.62 per share https://artifex.news/article68928975-ece/ Fri, 29 Nov 2024 21:10:00 +0000 https://artifex.news/article68928975-ece/ Read More “Zomato raises ₹8,500 crore via Qualified Institutional Placement at ₹252.62 per share” »

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Food delivery aggregator Zomato has raised ₹8,500 crore by selling equity shares to qualified institutional investors. File
| Photo Credit: Reuters

Food delivery aggregator Zomato has raised ₹8,500 crore by selling equity shares to qualified institutional investors, mainly domestic mutual fund houses, to fund its expansion and growth plans.

Zomato, which also owns quick-commerce firm Blinkit, had launched its Qualified Institutional Placement (QIP) issue on November 25, which closed on Thursday.

In a regulatory filing on Friday, Zomato informed that it has raised ₹8,500 crore through a Qualified Institutional Placement (QIP) issue. This is the first major fundraise since the company got listed on the stock exchanges in July 2021.

The Fund Raising Committee of Zomato’s board approved the allotment of 33,64,73,755 (33.65 crore) shares to eligible qualified institutional buyers at an issue price of ₹252.62 apiece, aggregating to ₹8,500 crore.

These shares were allotted to investors at 5% discount from the floor price, which was fixed at ₹265.91 per share.

Four domestic mutual fund houses — ICICI Prudential, Motilal Oswal, HDFC and Kotak — were allotted over 5% of the equity shares offered in the QIP issue.

Motilal Oswal emerged as the biggest participant picking up 21% share of the allocation by investing around ₹1,750 crore.

Recently, Zomato CEO Deepinder Goyal had said that the proposed fundraise is meant to strengthen its balance sheet.

The funds raised through the QIP issue will be used for the growth and expansion plans of Zomato as well as its quick commerce business Blinkit.

Zomato has four businesses at present including food delivery, quick-commerce (Blinkit), business-to-business (B2B) supply arm Hyperpure and District, a platform for users to book dining, movies, live performances, sports events, shopping, and staycations.

As per the latest shareholding pattern, public shareholding stood at 98.73% in Zomato. The company’s Founder and CEO Deepinder Goyal holds 4.18% as he is listed among public shareholders.

Zomato has a market cap of nearly ₹2.47 lakh crore. The company’s shares closed at ₹279.50 apiece on Friday, down 2.31% from their previous close on the BSE.

Published – November 30, 2024 02:40 am IST



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