Jetking to Boost Bitcoin Holdings with New Fundraising
Mumbai-based IT training firm Jetking is set to expand its Bitcoin investments, aiming to raise ₹6.6 crore through the sale of 4,28,622 equity shares. CFO Siddharth Bharwani announced this initiative on Thursday, marking a significant step for the company, which became the first publicly listed firm in India to adopt a pro-Bitcoin treasury policy in December 2024. The funds raised will primarily be directed towards acquiring more Bitcoin, while also supporting educational programs related to cryptocurrency in India.
Strategic Fundraising Plan Unveiled
Jetking’s board has approved a “Strategic Fund Raise” plan, which will see the company offer each of the 4,28,622 equity shares at a price of ₹154, consisting of a ₹10 face value and a ₹144 premium. Bharwani emphasized that the primary goal of this fundraising effort is to bolster the company’s Bitcoin treasury operations. In a post on X, he stated that the initiative aims to ensure sustainable growth and scalability for Jetking’s digital asset portfolio.
While the main focus is on Bitcoin acquisition, a portion of the funds will also be allocated to launching Bitcoin-related educational and training programs across India. This dual approach reflects Jetking’s commitment to not only enhancing its financial standing but also fostering a knowledgeable community around cryptocurrency and blockchain technology.
Jetking’s Pioneering Role in Cryptocurrency
Jetking made headlines in December 2024 when it announced the addition of Bitcoin tokens worth ₹10 crore (approximately $1.2 million) to its balance sheet. This decision came despite the uncertain regulatory environment surrounding cryptocurrencies in India, including a 30% tax on digital assets. Bitcoin, the oldest and most valuable cryptocurrency, is currently trading at around $83,577 (approximately ₹71.5 lakh), having previously surpassed the $108,000 mark.
The company’s proactive stance on Bitcoin has garnered attention from various sectors, including notable figures in the cryptocurrency space. For instance, American Bitcoin investor Michael Saylor recently acknowledged Jetking’s efforts, highlighting the growing interest in Bitcoin accumulation among publicly listed companies. This trend is further underscored by U.S. President Donald Trump’s establishment of a strategic Bitcoin reserve for long-term holding.
Jetking’s Legacy and Future Aspirations
Founded in 1947 as an electronics firm, Jetking transitioned to IT training in 1990 and now operates 100 training centers across India, educating approximately 35,000 students annually in areas such as blockchain and cybersecurity. The company is not only focused on expanding its Bitcoin holdings but also aims to explore international collaborations for blockchain research and applications.
As Jetking prepares to embark on this ambitious fundraising journey, it seeks to inspire other Indian companies to engage with Bitcoin and the broader cryptocurrency market. The upcoming process will commence once shareholder and regulatory approvals are secured, marking a pivotal moment in Jetking’s evolution as a leader in the IT training and cryptocurrency sectors.
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