Suits & Sayings: Paper Trail
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Economic Times
28 minutes ago
- Economic Times
CoinDesk-Bullish IPO, Stablecoin-Circle successes pave way for crypto firms like Gemini, Grayscale to go public
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Economic Times
an hour ago
- Economic Times
Bullish IPO stuns as BLSH stock may jump 62% to $55–$60 after massive demand — Peter Thiel-backed crypto a must-buy?
THE ECONOMIC TIMES Bullish IPO began trading today, and BLSH stock is already grabbing attention. Backed by Peter Thiel, the crypto exchange could open as much as 62% above its $37 IPO price, signaling huge investor demand and a potentially blockbuster debut. Bullish IPO kicked off today, with shares of the Peter Thiel-backed crypto exchange, BLSH, expected to open in the $55–$60 range. That would mark roughly a 62% jump from the initial $37 IPO price. The surge reflects investor excitement, fueled by demand more than 20 times the available shares, Bloomberg reported Wednesday. For traders and institutional investors, this signals one of the most watched crypto market debuts in recent years. Bullish isn't just another exchange. It combines institutional-grade trading with CoinDesk ownership, giving it a unique edge in data, media, and crypto indices. The platform focuses on Bitcoin and Ethereum, offering spot and derivatives trading with liquidity and compliance front and center. Analysts note that targeting institutional investors, rather than retail traders alone, may provide more stable growth in volatile crypto markets. What is the Bullish IPO price and valuation? Bullish IPO priced at $37 per share with a $5.4B valuation. Peter Thiel's involvement adds credibility. His Founders Fund, along with interest from BlackRock, Galaxy Digital, and ARK Invest, reflects strong institutional confidence. According to MarketWatch, ARK Invest may purchase up to $200 million worth of shares at the IPO price. Bullish initially planned to offer 20.3 million shares at $32–$33. Strong investor interest prompted the company to increase the offering to 30 million shares and raise the price to $37. Despite this, a third of institutional orders went unfilled, with allocations prioritized for long-only investors and existing relationships. This pattern mirrors Circle Internet Group's IPO in June, which also experienced outsized demand and saw shares rise more than 400% since listing. The comparison highlights a renewed appetite for crypto-linked public offerings. While Bullish posted a net loss in the first quarter of 2025, management expects to swing to profitability in Q2 with projected net income between $106 million and $109 million. Trading volumes tell the story—$250 billion in 2024, compared with just $72.7 billion in 2022, a growth trajectory that suggests its institutional bet is paying off. The company also disclosed crypto holdings worth about $2 billion, the majority in Bitcoin, with smaller allocations to Ethereum and stablecoins. Those reserves aren't just balance sheet filler—they're part of the firm's liquidity strategy, giving it the ability to settle trades quickly and withstand market shocks. While momentum is strong, there are factors to consider: Profitability: Bullish reported a net loss in Q1 2025 but projects Q2 net income of $106–$109 million . Execution on margins and cash flow will be crucial for sustained performance. Bullish reported a net loss in Q1 2025 but projects Q2 net income of . Execution on margins and cash flow will be crucial for sustained performance. Volatility: Crypto markets remain unpredictable. Price swings in Bitcoin and Ethereum could directly impact results. Crypto markets remain unpredictable. Price swings in Bitcoin and Ethereum could directly impact results. Competition: Established exchanges and brokers present ongoing challenges. Bullish's niche focus and CoinDesk integration offer differentiation but require execution. Established exchanges and brokers present ongoing challenges. Bullish's niche focus and CoinDesk integration offer differentiation but require execution. Disclosure: As a foreign private issuer, Bullish may provide lighter ongoing disclosure than domestic peers, a factor for cautious investors. Bullish's debut underscores renewed institutional confidence in crypto, especially amid regulatory clarity for stablecoins under the Trump Administration. The IPO serves as a signal that digital assets are attracting mainstream investment, bridging the gap between retail enthusiasm and professional trading. If BLSH opens near the projected range, it could set the tone for future crypto IPOs, influencing how exchanges, institutional investors, and regulators approach listings moving forward. Q1. What is the Bullish IPO opening price and expected BLSH stock range? BLSH is set to open between $55–$60, about 62% above the IPO price of $37. Q2. Who backs Bullish in its IPO and why does it matter? Bullish is backed by Peter Thiel, BlackRock, Galaxy Digital, and ARK Invest, signaling strong institutional confidence.
Economic Times
2 hours ago
- Economic Times
Vikram Solar says co evaluating plans to set up manufacturing unit in the US
Representative image. Solar photovoltaic modules maker Vikram Solar is evaluating plans to set up operations in the US, company chairman and managing director Gyanesh Chaudhary told ET. "We are evaluating our plans to set up operations in the US and looking at how things will pan out in the light of the tariffs," Chaudhary said on to sources, Vikram Solar was planning to invest around $1.5 billion in setting up a 3 GW (gigawatt) solar photovoltaic modules plant in the US as part of the company's expansion plan of 15.5 GW module and 5 GW cell capacity by fiscal year however declined to comment on the investments being planned in the possible US facility. The company, which has filed a draft prospectus for its initial public offer, has a 4.5 GW module manufacturing capacity across its two plants in Bengal and Tamil Nadu. It has a sales office in the US which is also its largest export market, contributing around 61.10% of the company's total revenue from operations as of Wednesday the company fixed a price band of Rs 315 to Rs 332 per share for its upcoming Rs 2,079 crore initial public offering (IPO). The Kolkata-based firm's maiden public issue would open for subscription on August 19 and conclude on August 21, it IPO will include fresh issues of equities worth up to Rs 1,500 crore and an offer for sale (OFS) of over 1.74 crore shares valued at around Rs 579.37 crore at the upper end of the price band, by its promoters. Of the fresh issuance, the company plans to use the proceeds for funding capital expenditure for investment in its wholly owned subsidiary, VSL Green Power Private Ltd, for both Phase I and Phase II of the project. Vikram Solar commenced its manufacturing operations in 2009 with an installed solar PV module manufacturing capacity of 12 MW, grown to 4.50 GW installed capacity as of the date. The company said its key domestic customers include prominent government entities, such as NTPC, Neyveli Lignite Corporation, and Gujarat Industries Power Company and private independent power producers (IPPs), like ACME Cleantech Solutions Adani Green Energy, Azure Power India, JSW Energy and Rays Power Infra, among others. The company is also planning to enter the battery energy storage systems (BESS) segment as a strategy to diversify its portfolio. It plans to start with a 1 GW BESS facility which will be scaled up to 10 GW or more.
