Ether reaches an All-Time High, Bitcoin sees slowdown and paytm raises 8000 crores through anchor investments
Ether Reaches an All-Time High while Bitcoin Sees Slow Down
Bitcoin(BTC) had seen a 0.13% rise in valuation as of November 4th 2021 continuing what has already been a difficult week for CryptoCurrency.It opened Thursday’s trade at ₹50 lakhs($67,173) on Indian exchange platforms such as Coinswitch Kuber. Global Exchanges such as Coinbase and Binfinance place bitcoin at ₹46.7lakh($62,800). While Bitcoins Investors have not rallied in November, after reaching an all-time highs in October. However, the Cryptocurrency has been Trading at a consistent trading value of about ₹47 Lakh($63,000) hinting towards a much-awaited price consolidation.
While Bitcoin has been losing grip in the global crypto market, altcoins continue to rise in value. According to NDTV Gadget 360’s price Tracker, the second most valuable cryptocurrency is Ether which as of November 4th was trading at ₹3.6 lakh ($4,897), up by 0.75% from the 24 hours between November 3rd and 4th. It had hit an all-time high on Wednesday, banking on news of wider blockchain adaptation. The token underpinning the Ethereum Blockchain rose as high as ₹3.45 Lakh ($4,636) on global exchange rates on Wednesday after days of minor gain.
Other altcoins such as Cardozo, Ripple and Tether have charted considerable gains.
Finally, onto the meme crypto currencies, Shiba Inu and dogecoin saw dips, Shiba Inu dipping close to 12% while DOGE fell by 0.64% to trade at ₹21.58 ($0.29).
Rs 8000 crore raised by Paytm through anchor Investments
As of November 4th 2021,Paytm raised ₹ 8,235 Crore from anchor investors as part of their initial public offering of ₹ 18,300 crore. Wealth funds and Financial investors including Singapore’s GIC,Canada’s CPPIB,BlackRock, Alkeon Capital and Abu Dhabi Investment Authority are among those to have picked up stake in Paytm’s parent organisation One97 communications’ anchor slot.
There were all in all 122 funds who put bids in this round which people believe was oversubscribed by 10 times. BlackRock, GIC and CPPIB were among the top investors in this Anchor round contributing a total of ₹ 2,516 crore. This has given indications that Paytm’s IPO is highly popular,slated to open on November 8th.
Paytm initially filed for a IPO of ₹16,600 Crores in July,however it increased it by ₹1700 Crore to ₹ 18,300 crore,the highest IPO in Indian Corporate history.All in all Paytm has raised 45% of its total capital it intends to raise through the IPO.
The Top Shareholders for Paytm’s parent firm One97 communications is as follows,29.6% Ant group,19.6% SoftBank,17.2% Elevation Capital,14.6% Vijay Shekhar Sharma,7.2% Alibaba,2.8% Berkshire Hathaway and 9% others.
Last week,Paytm President and group CFO Madhur Deora said that the COmpany was seeking several marquee investors for the anchor role and was inclined to pick long term investors with good track records.
Zomanato’s stellar IPO in July and Paytm’s current listing is a seminal moment for Indian startups looking to go public and to attract further attention from the global audience.
Written By: Rajat Pujar