Indian Company Jetking Plans To Raise Funds To Buy BTC!

Indian company Jetking will issue shares to increase its BTC reserves and engage in crypto-related initiatives.

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Jetking to Issue Equity Shares to Buy Bitcoin

Jetking Infotrain Limited, a Mumbai-based IT training company, announced on Wednesday that it plans to raise ₹6.6 crore ($793,000) through a preferential equity share issue to increase its bitcoin reserves and fund cryptocurrency-related ventures. Jetking’s CFO, Siddarth Bharwani, confirmed this development.

Jetking Invests in Bitcoin through Preferential Equity Share Issue for Crypto Purchases

The “Strategic Fundraising” plan, approved by the board, aims to accelerate digital asset acquisitions, said CFO Bharwani in a statement on April 2. The capital will be raised by issuing 428,622 equity shares to the company’s promoter groups and specific non-promoters. This process will be carried out in compliance with SEBI and Companies Act regulations.

A large portion of the raised funds will be used for bitcoin (BTC) purchases, while also supporting general corporate needs and BTC-focused training programs. As of the end of 2024, Jetking holds approximately 14.77 BTC ($1.2M) and had adopted a “bitcoin-only” treasury policy.

Founded in 1947 as an electronics company, Jetking switched to IT training in 1990. With 100 centers across India, it trains 35,000 students annually in areas such as blockchain, cybersecurity, and related fields. The company reported a 39% increase in operating income for Q3 2024.

In December 2024, Jetking became the first public company in India to add bitcoin to its balance sheet. This strategy followed the lead of US companies like Strategy and MARA. Jetking’s share price rose by 20% after its first BTC purchase.

The equity share issuance will be subject to shareholder and regulatory approvals. Bharwani hinted, “Big things are coming,” signaling Jetking’s ambitious strategy in the crypto space despite India’s cautious approach to digital assets.

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