Mumbai-based IT education company Jetking Infotrain has announced plans to raise $825,000 to expand its Bitcoin holdings and invest in digital assets. The move positions Jetking among the few Indian companies openly investing in cryptocurrency.
How the Funds Will Be Used
Jetking plans to allocate the funds toward three key areas, including expanding Bitcoin and digital asset holdings and general business operations. A portion of the money will be used for daily corporate expenses and other financial needs. The other is to enhance Bitcoin education and training. Jetking will introduce new courses on Bitcoin, blockchain, and cryptocurrency. These programs will help students and professionals develop skills in this emerging field.
While Jetking’s management team will remain unchanged, the ownership structure may shift due to the issuance of new shares.
Jetking will issue 428,622 equity shares to raise capital at $1.85 per share. Each share includes a $0.12 face value and a $1.70 premium. The total issue size is estimated at $825,000.
The shares will be sold preferentially, offered only to Jetking’s Promoter Group and selected non-promoters, not to the general public.
The fundraising process will adhere to Indian financial regulations, including the SEBI (ICDR) Regulations, 2018, and the Companies Act, 2013. However, the plan is still subject to shareholder approval and regulatory clearance before it is finalized.
India’s Crypto Growth Continues
India has experienced significant growth in cryptocurrency adoption over the past few years despite facing regulatory challenges. Although the government has imposed several restrictions on crypto trading and investment, these regulations have not dampened the enthusiasm of Indian investors.
Instead, India remains one of the largest and fastest-growing crypto markets globally. The country’s increasing interest in digital assets is driven by factors like the potential for high returns, as many people see digital currencies as a way to diversify their portfolios and access financial services that may be unavailable through traditional banking systems.
Jetking’s decision to buy more Bitcoin reflects the growing interest in cryptocurrencies in India. As more people and businesses get involved, Jetking could position itself as a key player in the country’s crypto market.
