Indian IT Firm Jetking to Raise Funds for Bitcoin Treasury Expansion
Crypto News
Jamie Redman
16 minutes ago
Indian IT Firm Jetking to Raise Funds for Bitcoin Treasury Expansion
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.
Indian IT Firm Jetking to Raise Funds for Bitcoin Treasury Expansion
Jetking Doubles Down on Bitcoin With Preferential Share Issue for Crypto Acquisition
The board-approved “Strategic Fund Raise” aims to accelerate Jetking’s acquisition of virtual digital assets, Jetking’s CFO Bharwani said in an April 2 statement on X. 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 ( BTC) 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 ($1.2M) as of December 31, 2024.
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.
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.
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.
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