In a significant move that reinforces India’s growing embrace of cryptocurrency, Jetking Infotrain Limited, a Mumbai-based IT education firm, has received board approval for a strategic fundraise aimed at expanding its Bitcoin treasury. The company plans to raise ₹6.6 crore (approximately $793,000) through a preferential share issue, marking another milestone in its cryptocurrency journey after becoming India’s first publicly listed company to add Bitcoin to its balance sheet in December 2024.
The Fundraising Plan
According to an announcement by Jetking’s Chief Financial Officer Siddarth Bharwani on April 2, 2025, the company will issue 428,622 equity shares priced at ₹154 each—comprising a ₹10 face value and ₹144 premium. These shares will be allocated to the company’s promoter group and select non-promoter investors in compliance with SEBI (Securities and Exchange Board of India) and Companies Act regulations.
Jetking board approves “Strategic Fund Raise” to turbo charge foray in Virtual Digital Asset acquisition.
Primary Objectives:
🔸 To expand our Bitcoin treasury operations, we plan to raise capital for sustainable growth & scalability.
🔸 The funds will be raised through the…— Siddarth ₿harwani (@sidbharwani) April 2, 2025
The raised funds will be primarily directed toward three areas:
- Expanding Jetking’s Bitcoin holdings
- Supporting general corporate requirements
- Developing education and training programs focused on Bitcoin and blockchain technology
Jetking’s Bitcoin Journey
Jetking’s relationship with Bitcoin began in December 2024 when it made headlines by purchasing 12 Bitcoin worth approximately $1.2 million, becoming the first publicly traded Indian company to add Bitcoin to its treasury reserves. Following this initial purchase, the company’s stock price surged by 20%, reaching a five-year peak and demonstrating investor confidence in its cryptocurrency strategy.
Company Background
Founded in 1947 as an electronics trading firm, Jetking Infotrain pivoted to IT training in 1990 and has established itself as a significant player in India’s technology education sector. The company currently operates approximately 100 centers across India, training around 35,000 students annually in various fields including blockchain, cybersecurity, and related technologies.
Financially, Jetking reported a 38.76% quarterly operating income increase in 2024, indicating strong business performance alongside its cryptocurrency initiatives.
Strategic Vision
At the Bitcoin Conference MENA in Abu Dhabi, CEO Avinash Bharwani outlined Jetking’s strategy to integrate Bitcoin with equities in its treasury to drive long-term growth in the company’s value. The company has also been engaging with Indian regulators to formalize its Bitcoin holdings within the country’s regulatory framework.
CFO Siddarth Bharwani hinted at bigger plans on the horizon, stating “bigger things are coming” in his April 2nd announcement, suggesting Jetking’s Bitcoin strategy may extend beyond simply holding the cryptocurrency as a reserve asset.
Get real-time updates on Crypto News Today, covering top cryptocurrencies, blockchain innovations, and regulatory developments shaping the future of digital assets and decentralized finance.
Market Impact and Comparisons
Jetking’s approach mirrors strategies adopted by U.S. companies like Strategy (formerly MicroStrategy) and Riot Platforms, which have made significant Bitcoin investments. Strategy recently added 21,550 BTC to its already substantial portfolio, while Riot Platforms announced plans to secure $500 million for purchasing Bitcoin.
The timing of Jetking’s announcement is particularly notable as it comes amid growing institutional adoption of cryptocurrencies globally. BlackRock recently received approval to offer crypto services in the UK, and VanEck has filed to launch the first BNB ETF in the US, indicating increasing mainstream acceptance of digital assets.
India’s Cryptocurrency Landscape
Jetking’s Bitcoin investment strategy is particularly significant given India’s historically cautious stance toward digital assets. The country has had a complex relationship with cryptocurrencies, including a nearly two-year ban on banks facilitating crypto transactions that was lifted by the Supreme Court in 2020.
Currently, India imposes a 30% tax on Bitcoin gains, and the regulatory environment continues to evolve. By becoming a pioneer in corporate Bitcoin adoption, Jetking is positioning itself at the forefront of potential cryptocurrency mainstreaming in the Indian business landscape.
Looking Ahead
As Jetking awaits shareholder and regulatory approvals for its fundraising plan, the company’s Bitcoin strategy could inspire other Indian corporations to explore cryptocurrency investments. If successful, Jetking’s approach may serve as a template for integrating digital assets into corporate treasury management in India and potentially across the broader Asian market.
With Bitcoin trading at approximately $85,000 as of early April 2025, Jetking’s expanded investment could yield significant returns if the cryptocurrency’s bullish trend continues, potentially transforming the company’s financial position and reinforcing its status as an innovator in India’s technology and finance sectors.
Also Read: Bitcoin Rises to $85K, Then Falls to $83K Ahead of President Trump’s “Liberation Day” Announcement
