Jetking Infotrain Limited, a Mumbai-based IT education firm, announced plans Wednesday to raise ₹6.6 crore ($793,000) through a preferential share issue to expand its bitcoin reserves and fund cryptocurrency-related initiatives, Chief Financial Officer Siddarth Bharwani confirmed in an April 2 statement on X.
Strategic Fund Raise and Share Details
The board-approved “Strategic Fund Raise” aims to accelerate Jetking’s acquisition of virtual digital assets. The capital will be raised by issuing 428,622 equity shares at ₹154 each—comprising a ₹10 face value and ₹144 premium—to promoter groups and select non-promoters, adhering to SEBI and Companies Act regulations. Proceeds will primarily fund bitcoin purchases, alongside general corporate needs and BTC-focused education programs.
Jetking, which adopted a “Bitcoin-only” treasury policy in late 2024, already holds an estimated 14.77 BTC ($1.2 million) as of December 31, 2024. The company’s stock surged 20% following the initial BTC purchase, reflecting strong market sentiment toward its crypto strategy.
Company Background and Transition
Founded in 1947 as an electronics firm, Jetking shifted to IT training in 1990. It operates 100 centers across India, training 35,000 students annually in blockchain, cybersecurity, and related fields. The company reported a 39% quarterly operating income increase in 2024, underscoring its financial momentum.
Jetking became India’s first publicly listed company to add bitcoin to its balance sheet in December 2024, mirroring strategies of U.S. firms like Strategy and MARA. Despite India’s cautious regulatory stance toward digital assets, Bharwani hinted at “bigger things are coming,” signaling Jetking’s deepening bet on cryptocurrency.
The share issuance remains subject to shareholder and regulatory approvals. If approved, the move would provide Jetking with additional firepower to expand its bitcoin holdings and strengthen its crypto education initiatives. The company’s bold step could also encourage other Indian firms to consider digital assets as part of their corporate treasury strategies. As of publication, Bitcoin was trading around $85,000, down about 12% year-to-date, but Jetking’s CFO remains optimistic about the long-term value proposition.