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Elon Musk's Starlink Gets Satellite Internet Permit In India

Elon Musk's Starlink Gets Satellite Internet Permit In India

NDTV4 days ago
New Delhi:
Elon Musk-led Starlink has received a licence to launch satellite service in India, and a framework for spectrum allocation is also in place for a smooth rollout, Union Telecom Minister Jyotiraditya Scindia said on Thursday.
The announcement was made on the eve of the 30th anniversary of the first cellular call made in the country in 1995.
"Starlink has been granted a Unified License to launch satellite internet services in India. Frameworks for spectrum allocation and gateway establishment are ready, ensuring smooth rollout," Mr Scindia said.
Along with Starlink, Bharti Group-backed Eutelsat OneWeb and Jio SES are also awaiting spectrum allocation to roll out their satcom services.
The minister said that over the last 11 years, under the leadership of Prime Minister Narendra Modi, India's digital transformation has been nothing short of extraordinary.
"From remote villages to bustling cities, digital access has empowered citizens, bridged divides, and made India a global leader in affordable, inclusive technology," he added.
The minister said telephone connections in the country now stand at 1.2 billion, and internet subscriptions have surged by nearly 286 per cent to 970 million.
"Broadband usage has seen explosive growth of over 1,450 per cent, rising from 60 million in 2014 to 944 million today. Most notably, the cost of mobile data has dropped by 96.6 per cent, making India the global leader in affordable data at just Rs 8.9 per GB," he said.
Mr Scindia said the revival of BSNL has been a major breakthrough.
"For the first time in 18 years, BSNL reported back-to-back net profits of Rs 262 crore and Rs 280 crore in FY 2024-25. Over 83,000 4G sites have been installed, with 74,000 already operational, all built on indigenously developed technology. Crack Teams, AI-powered monitoring, and fibre fault resolution within 12 hours have raised service standards across the board," the minister noted.
He said India's rapid 5G rollout has covered 99.6 per cent of districts, with 4.74 lakh 5G towers and 300 million users.
"With the world's highest per capita 5G usage (32 GB per month) and 100 Use Case Labs in place, India is also among the top six countries in 6G patent filings. Investments under the Production Linked Incentive scheme have touched Rs 4,305 crore, resulting in Rs 85,391 crore in sales and over 28,000 jobs. Foreign direct investment has nearly tripled from USD 282 million to USD 710 million," the minister added.
Commenting on the 30th anniversary of the first cellular call in India, telecom industry body COAI Director General SP Kochhar said India's telecom sector has witnessed a phenomenal transformation since the country's first cellular call in 1995.
"Today, India stands as the world's second-largest telecom market, boasting over 1.2 billion subscribers and some of the most affordable tariff rates globally. An Indian subscriber now uses over 21 GB of data each month on average, which is a testament to the world-class infrastructure developed by leading Indian telecom operators," Mr Kocchar said.
He said that the mobile service landscape in the country started with 2G and now over 85 per cent of India's population and more than 99 per cent of the districts in India enjoy access to 5G services.
Domestic telecom gear maker HFCL managing director Mahendra Nahata said that while the late 1990s and early 2000s saw a rapid expansion of mobile infrastructure, the sector truly came of age with the advent of affordable services and innovative prepaid models that made mobile access available to millions across both major cities and remote villages.
"While India followed the global curve during the 2G and 3G eras and caught up with the world in 4G, it surprised many by emerging as the country with the fastest 5G rollout in the world. Now, with a bold vision to lead in future technologies, India is actively working on developing 6G, not just to adopt, but to help shape and set global standards," Mr Nahata said.
Telecom gear maker GX Group CEO Paritosh Prajapati said as India marks the 30th anniversary of its first cellular call, the country stands at a defining moment in the journey of self-reliance.
"The telecom sector has been the backbone of our digital transformation, and initiatives like the Production Linked Incentive (PLI) scheme are ensuring that India doesn't just consume technology, but designs, develops and manufactures it for the world. The next three decades will belong to a truly Atmanirbhar Bharat, leading global innovation from within our borders," Prajapati said.
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Bullish IPO debut: Peter Thiel-backed crypto giant targets $4.2B valuation—is the new crypto wave knocking on Wall Street's door?
Bullish IPO debut: Peter Thiel-backed crypto giant targets $4.2B valuation—is the new crypto wave knocking on Wall Street's door?

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Bullish IPO debut: Peter Thiel-backed crypto giant targets $4.2B valuation—is the new crypto wave knocking on Wall Street's door?

Synopsis Bullish IPO 2025 is making headlines as the Peter Thiel-backed crypto exchange prepares for a massive $4.2 billion debut on the NYSE. With strong support from Wall Street giants like J.P. Morgan and interest from BlackRock and ARK, Bullish is setting the tone for a new era of institutional crypto investing. The company's regulatory-compliant model, massive $3B+ asset reserve, and strategy to convert IPO funds into stablecoins make it stand out. Backed by CoinDesk and built for serious traders, Bullish could redefine crypto's role in traditional finance. Reuters Bullish, the Peter Thiel-backed crypto exchange, is officially stepping onto Wall Street with a bold IPO move. Targeting a massive $4.2 billion valuation, the company plans to raise up to $629 million by offering over 20 million shares on the New York Stock Exchange under the ticker BLSH. With major underwriters like J.P. Morgan and Citi onboard, this listing marks one of the most significant U.S. crypto IPOs in years—signaling what could be the start of a powerful new wave for digital asset firms in public markets. Bullish aims for Wall Street spotlight with major IPO as crypto markets rebound- Bullish, the cryptocurrency exchange backed by billionaire tech mogul Peter Thiel, is gearing up for a major move on Wall Street, targeting a $4.2 billion valuation in its highly anticipated IPO debut on the New York Stock Exchange (NYSE). This IPO marks one of the most significant crypto stock market listings since Coinbase's 2021 launch and signals a new chapter for digital assets in the public investment space. As institutional investors warm up to crypto again, thanks to clearer U.S. regulations, Bullish's entry into the stock market could set the tone for the next wave of crypto IPOs in 2025. Bullish plans to raise up to $629 million through its U.S. IPO by offering approximately 20.3 million shares to the public, priced between $28 and $31 per share. There's also a 30-day option for underwriters to purchase an additional 3.05 million shares, potentially pushing the total raised even higher. The IPO, which will trade under the ticker 'BLSH', is being led by major investment banks J.P. Morgan, Citigroup, and Jefferies. This trio of top-tier underwriters signals strong Wall Street confidence in Bullish's business model and long-term vision. The timing of this IPO couldn't be more strategic. After years of uncertainty, the U.S. crypto space is finally finding its regulatory footing. The recent passage of the GENIUS Act, which sets out clear rules for stablecoins and crypto exchanges, is boosting investor confidence across the board. Bullish, unlike many other platforms, has focused on full regulatory compliance, institutional-grade operations, and financial transparency—three things that traditional investors now demand in the post-FTX world. The exchange's emphasis on security, deep liquidity, and asset transparency gives it a competitive edge as it enters public markets. Bullish is not your average crypto exchange. Unlike Robinhood, Binance, or meme coin-centric platforms, Bullish is built for institutional trading. It offers deep order books, high liquidity, and secure asset custody systems that attract professional traders and large institutions rather than speculative retail players. One standout feature is its ownership of CoinDesk, a top-tier crypto media company acquired in 2023 for about $70 million. This allows Bullish to not only operate as a trading platform but also influence the narrative in crypto markets through strategic media visibility—something no other exchange has done at this scale. The presence of Peter Thiel as a lead backer adds significant weight to Bullish's reputation. As co-founder of PayPal and Palantir, Thiel's involvement lends Bullish the same disruptive tech DNA that made those firms Wall Street successes. Bullish is also supported by a powerful syndicate of investors, including Founders Fund, Galaxy Digital, and Japanese banking giant Nomura. This global backing gives the exchange both geographic reach and financial clout—two key advantages as it scales operations post-IPO. Unlike many companies that simply add IPO funds to their balance sheet, Bullish plans a more strategic move. A large portion of the net IPO proceeds will be converted into U.S. dollar-backed stablecoins, helping to reduce exposure to crypto market volatility and enhance overall platform liquidity. This decision aligns with the provisions of the GENIUS Act, showing regulators and investors alike that Bullish is serious about stable, compliant growth. As of its IPO filing, Bullish holds a massive $3+ billion in liquid assets. That includes: 24,000 Bitcoin (BTC) 12,600 Ethereum (ETH) Over $400 million in stablecoins and cash This robust balance sheet gives Bullish a serious financial advantage over many of its peers, enabling it to offer better pricing, handle larger trades, and remain resilient during market downturns. Back in 2021, Bullish had attempted to go public via a SPAC merger with Far Peak Acquisition Corp, which would have valued the company at $9 billion. That deal was eventually scrapped in 2022 amid crypto market instability and unclear regulations. Now, with stronger financials and regulatory clarity, Bullish is taking a more realistic approach. Its current IPO target of $4.2 billion may be lower than past ambitions, but it's far more aligned with today's market environment and investor expectations. Institutional appetite for Bullish shares appears to be heating up. Both BlackRock and ARK Investment Management have expressed non-binding interest in investing up to $200 million at the IPO price. While not yet confirmed, this level of potential commitment from two of the world's most influential asset managers is a major vote of confidence. If these firms follow through, Bullish could attract even more institutional attention—and likely outperform expectations in its debut week on the NYSE. This IPO could set the stage for a new wave of crypto companies entering the U.S. public markets. Industry leaders like Circle, eToro, Kraken, and OKX are reportedly preparing IPOs of their own, and Bullish's performance will likely become a benchmark for the entire sector. Investors, regulators, and crypto advocates alike will be watching closely to see if Bullish can bridge the gap between traditional finance and digital assets—something many platforms have tried and failed to do. Bullish confidentially filed with the SEC in June and made its public filing on August 4, 2025. The IPO roadshow began shortly after, with pricing expected in the week of August 11, according to industry insiders. With the listing set for later in August, the next few weeks will be critical for final investor commitments and pricing momentum. The Bullish IPO is shaping up to be one of the most important tech listings of 2025—not just for crypto, but for the broader financial sector. Backed by elite investors, flush with liquidity, and positioned perfectly in a newly compliant U.S. regulatory framework, Bullish has all the ingredients of a breakout success. Whether you're a long-term crypto believer or a traditional investor exploring digital assets for the first time, Bullish stock is one to watch closely. It's more than a crypto company—it's a financial infrastructure play, and one that could help shape the future of how digital assets trade, move, and are regulated in mainstream markets. Company : Bullish Global : Bullish Global IPO Valuation Target : $4.2 billion (fully diluted at $31/share) : $4.2 billion (fully diluted at $31/share) Ticker Symbol : BLSH (NYSE) : BLSH (NYSE) Price Range : $28–$31 per share : $28–$31 per share Shares Offered : 20.3 million (plus 3.05 million overallotment) : 20.3 million (plus 3.05 million overallotment) Capital Raised (Est.) : Up to $629 million : Up to $629 million Lead Underwriters : J.P. Morgan, Citigroup, Jefferies : J.P. Morgan, Citigroup, Jefferies Use of Proceeds : Conversion into stablecoins, liquidity enhancement : Conversion into stablecoins, liquidity enhancement Institutional Interest : BlackRock, ARK (non-binding interest up to $200 million) : BlackRock, ARK (non-binding interest up to $200 million) Liquid Assets : $3B+ (BTC, ETH, cash, stablecoins) : $3B+ (BTC, ETH, cash, stablecoins) CoinDesk Acquisition: Completed in 2023 (~$70M) If Bullish delivers on its promises, this IPO could become a pivotal moment in crypto's path to institutional acceptance and long-term sustainability. Q1: What is the Bullish IPO 2025 all about? It's a crypto exchange backed by Peter Thiel going public with a $4.2B valuation on NYSE. Q2: Why is Bullish's IPO getting attention from investors? Because it's fully regulated, holds $3B+ in assets, and is backed by BlackRock and ARK.

Bullish IPO debut: Peter Thiel-backed crypto giant targets $4.2B valuation—is the new crypto wave knocking on Wall Street's door?
Bullish IPO debut: Peter Thiel-backed crypto giant targets $4.2B valuation—is the new crypto wave knocking on Wall Street's door?

Time of India

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  • Time of India

Bullish IPO debut: Peter Thiel-backed crypto giant targets $4.2B valuation—is the new crypto wave knocking on Wall Street's door?

Bullish IPO 2025 is making headlines as the Peter Thiel-backed crypto exchange prepares for a massive $4.2 billion debut on the NYSE. With strong support from Wall Street giants like J.P. Morgan and interest from BlackRock and ARK, Bullish is setting the tone for a new era of institutional crypto investing. The company's regulatory-compliant model, massive $3B+ asset reserve, and strategy to convert IPO funds into stablecoins make it stand out. Backed by CoinDesk and built for serious traders, Bullish could redefine crypto's role in traditional finance. Bullish, the Peter Thiel-backed crypto exchange, is officially stepping onto Wall Street with a bold IPO move. Targeting a massive $4.2 billion valuation , the company plans to raise up to $629 million by offering over 20 million shares on the New York Stock Exchange under the ticker BLSH . With major underwriters like J.P. Morgan and Citi onboard, this listing marks one of the most significant U.S. crypto IPOs in years—signaling what could be the start of a powerful new wave for digital asset firms in public markets. Tired of too many ads? Remove Ads Bullish looks to raise up to $629 million in IPO Crypto market recovery and regulatory clarity fuel investor interest Tired of too many ads? Remove Ads What sets Bullish apart from other crypto exchanges Backing from Peter Thiel and other heavyweight investors adds credibility Bullish plans to convert IPO proceeds into stablecoins to boost liquidity Bullish already holds $3 billion in liquid assets Tired of too many ads? Remove Ads 24,000 Bitcoin (BTC) 12,600 Ethereum (ETH) Over $400 million in stablecoins and cash Lower IPO valuation reflects realism and maturity Big names like BlackRock and ARK are showing early interest What Bullish's IPO means for the future of crypto stocks Roadshow underway, pricing expected mid-August Why investors should keep a close eye on Bullish Key IPO details at a glance: Company : Bullish Global : Bullish Global IPO Valuation Target : $4.2 billion (fully diluted at $31/share) : $4.2 billion (fully diluted at $31/share) Ticker Symbol : BLSH (NYSE) : BLSH (NYSE) Price Range : $28–$31 per share : $28–$31 per share Shares Offered : 20.3 million (plus 3.05 million overallotment) : 20.3 million (plus 3.05 million overallotment) Capital Raised (Est.) : Up to $629 million : Up to $629 million Lead Underwriters : J.P. Morgan, Citigroup, Jefferies : J.P. Morgan, Citigroup, Jefferies Use of Proceeds : Conversion into stablecoins, liquidity enhancement : Conversion into stablecoins, liquidity enhancement Institutional Interest : BlackRock, ARK (non-binding interest up to $200 million) : BlackRock, ARK (non-binding interest up to $200 million) Liquid Assets : $3B+ (BTC, ETH, cash, stablecoins) : $3B+ (BTC, ETH, cash, stablecoins) CoinDesk Acquisition: Completed in 2023 (~$70M) FAQs: Bullish, the cryptocurrency exchange backed by billionaire tech mogul Peter Thiel, is gearing up for a major move on Wall Street, targeting a $4.2 billion valuation in its highly anticipated IPO debut on the New York Stock Exchange (NYSE). This IPO marks one of the most significant crypto stock market listings since Coinbase's 2021 launch and signals a new chapter for digital assets in the public investment institutional investors warm up to crypto again, thanks to clearer U.S. regulations, Bullish's entry into the stock market could set the tone for the next wave of crypto IPOs in plans to raisethrough its U.S. IPO by offering approximatelyto the public, priced betweenper share. There's also a 30-day option for underwriters to purchase an additional, potentially pushing the total raised even IPO, which will trade under the ticker, is being led by major investment banks, and. This trio of top-tier underwriters signals strong Wall Street confidence in Bullish's business model and long-term timing of this IPO couldn't be more strategic. After years of uncertainty, the U.S. crypto space is finally finding its regulatory footing. The recent passage of the GENIUS Act, which sets out clear rules for stablecoins and crypto exchanges, is boosting investor confidence across the unlike many other platforms, has focused on full regulatory compliance, institutional-grade operations, and financial transparency—three things that traditional investors now demand in the post-FTX world. The exchange's emphasis on security, deep liquidity, and asset transparency gives it a competitive edge as it enters public is not your average crypto exchange. Unlike Robinhood, Binance, or meme coin-centric platforms, Bullish is built for institutional trading. It offers deep order books, high liquidity, and secure asset custody systems that attract professional traders and large institutions rather than speculative retail standout feature is its ownership of CoinDesk, a top-tier crypto media company acquired in 2023 for about $70 million. This allows Bullish to not only operate as a trading platform but also influence the narrative in crypto markets through strategic media visibility—something no other exchange has done at this presence of Peter Thiel as a lead backer adds significant weight to Bullish's reputation. As co-founder of PayPal and Palantir, Thiel's involvement lends Bullish the same disruptive tech DNA that made those firms Wall Street is also supported by a powerful syndicate of investors, including Founders Fund, Galaxy Digital, and Japanese banking giant Nomura. This global backing gives the exchange both geographic reach and financial clout—two key advantages as it scales operations many companies that simply add IPO funds to their balance sheet, Bullish plans a more strategic move. A large portion of the net IPO proceeds will be converted into U.S. dollar-backed stablecoins, helping to reduce exposure to crypto market volatility and enhance overall platform decision aligns with the provisions of the GENIUS Act, showing regulators and investors alike that Bullish is serious about stable, compliant of its IPO filing, Bullish holds a massive $3+ billion in liquid assets. That includes:This robust balance sheet gives Bullish a serious financial advantage over many of its peers, enabling it to offer better pricing, handle larger trades, and remain resilient during market in 2021, Bullish had attempted to go public via a SPAC merger with Far Peak Acquisition Corp, which would have valued the company at $9 billion. That deal was eventually scrapped in 2022 amid crypto market instability and unclear with stronger financials and regulatory clarity, Bullish is taking a more realistic approach. Its current IPO target of $4.2 billion may be lower than past ambitions, but it's far more aligned with today's market environment and investor appetite for Bullish shares appears to be heating up. Both BlackRock and ARK Investment Management have expressed non-binding interest in investing up to $200 million at the IPO price. While not yet confirmed, this level of potential commitment from two of the world's most influential asset managers is a major vote of these firms follow through, Bullish could attract even more institutional attention—and likely outperform expectations in its debut week on the IPO could set the stage for a new wave of crypto companies entering the U.S. public markets. Industry leaders like Circle, eToro, Kraken, and OKX are reportedly preparing IPOs of their own, and Bullish's performance will likely become a benchmark for the entire regulators, and crypto advocates alike will be watching closely to see if Bullish can bridge the gap between traditional finance and digital assets—something many platforms have tried and failed to confidentially filed with the SEC in June and made its public filing on August 4, 2025. The IPO roadshow began shortly after, with pricing expected in the week of August 11, according to industry the listing set for later in August, the next few weeks will be critical for final investor commitments and pricing Bullish IPO is shaping up to be one of the most important tech listings of 2025—not just for crypto, but for the broader financial sector. Backed by elite investors, flush with liquidity, and positioned perfectly in a newly compliant U.S. regulatory framework, Bullish has all the ingredients of a breakout you're a long-term crypto believer or a traditional investor exploring digital assets for the first time, Bullish stock is one to watch closely. It's more than a crypto company—it's a financial infrastructure play, and one that could help shape the future of how digital assets trade, move, and are regulated in mainstream Bullish delivers on its promises, this IPO could become a pivotal moment in crypto's path to institutional acceptance and long-term a crypto exchange backed by Peter Thiel going public with a $4.2B valuation on it's fully regulated, holds $3B+ in assets, and is backed by BlackRock and ARK.

IRDAI fines Policybazaar Rs5 crore for violations
IRDAI fines Policybazaar Rs5 crore for violations

United News of India

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  • United News of India

IRDAI fines Policybazaar Rs5 crore for violations

Chennai, Aug 4 (UNI) The Indian insurance regulator has come down heavily on the Policybazaar Web Aggregator Pvt Ltd (now Policybazaar Insurance Brokers Pvt Ltd) by levying a fine of Rs.5 crore. According to the Insurance Regulatory and Development Authority of India (IRDA), the fine was levied under Section 102 of the Insurance Act, 1938 for various violations of the Act, Rules and the Regulations. The IRDAI has also issued directions, advisory and caution to the insurance web aggregator. The IRDAI has directed the company to remit the penalty within a period of forty-five days from the date of receipt of this order. UNI VJ RN

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