Indian IT Firm Jetking Plans Fundraising to Strengthen Bitcoin Holdings and Education
Indian IT training company Jetking has announced plans to raise funds to bolster its Bitcoin treasury and expand its focus on blockchain education. The move makes Jetking the first IT training firm in the Asia-Pacific (APAC) region to incorporate Bitcoin into its long-term strategy.
Fundraising and Investment Strategy
In an April 2 statement on X, Jetkings Chief Financial Officer, Harsh Bharwani, revealed the companys board had approved a strategic capital raise.
Jetking board approves 'Strategic Fund Raise' to turbo charge foray in Virtual Digital Asset acquisition, Bharwani stated.
Jetking aims to use the raised capital for three key purposes: increasing its Bitcoin reserves, investing in blockchain and Bitcoin-focused education and training, and supporting overall corporate growth. The fundraising will involve issuing equity shares on a preferential basis to Promoter Group and Identified Non-Promoters, in compliance with the Securities and Exchange Board of India (SEBI) (ICDR) Regulations, 2018, and the Companies Act, 2013.
The proposed share issuance is subject to shareholder and regulatory approvals. While the management structure will remain unchanged, adjustments in shareholding may occur.
Bitcoin-First Approach
Jetking adopted a Bitcoin-only treasury policy in late 2024, making it Indias first publicly listed company to add Bitcoin to its balance sheet. As of December 31, 2024, the company held approximately 14.77 BTC, valued at around $1.2 million. Following its initial Bitcoin purchase, Jetkings stock surged 20%, mirroring similar moves by U.S. firms like MicroStrategy and MARA.
Founded in 1947 as an electronics manufacturer, Jetking transitioned into IT training in 1990. It now operates 100 centers across India, training around 35,000 students annually in blockchain, cybersecurity, and other emerging tech fields. The company reported a 39% quarterly increase in operating income in 2024, reflecting strong financial performance.
Impact on Indias Crypto Landscape
India has historically maintained a cautious approach to cryptocurrency, with regulatory uncertainty deterring most public companies from direct crypto investments. Jetkings foray into Bitcoin marks a shift in corporate attitudes toward digital assets and could serve as a precedent for other traditional firms considering similar investments.
With digital adoption growing in a country of over a billion people, Jetkings move may encourage broader acceptance of crypto assets in Indian business circles. Bharwani hinted at further developments, stating that bigger things are coming, signaling the companys continued commitment to Bitcoin and blockchain despite regulatory uncertainties.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Text source: Crypto Daily™
