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 Fundraising Details
The board-approved “Strategic Fund Raise” will be executed by issuing 428,622 equity shares at ₹154 each (₹10 face value and ₹144 premium) to promoter groups and selected non-promoters, adhering to SEBI and Companies Act regulations. Proceeds will primarily fund bitcoin (BTC) purchases, alongside general corporate needs and BTC-focused education programs.
Bitcoin Treasury Strategy
Jetking adopted a “bitcoin only” treasury policy in late 2024. As of December 31, 2024, the company held an estimated 14.77 BTC ($1.2 million). 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. Its stock surged 20% following the initial BTC purchase.
Company Background
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.
Regulatory Outlook
The share issuance remains subject to shareholder and regulatory approvals. Bharwani hinted at “bigger things are coming,” signaling Jetking's deepening bet on cryptocurrency despite India's cautious stance toward digital assets.