Bitcoin News Today: Jetking Raises ₹11.5 Crore to Expand Bitcoin Holdings and Blockchain Education

Jetking Infotrain Ltd., a prominent Indian IT training company with a history spanning nearly 77 years, has announced its second equity raise of the year. The company's board has approved a preferential allotment of 460,000 equity shares at ₹250 each, targeting to raise approximately ₹11.5 crore (~$1.34 million). This funding round is significantly larger than the previous one in April, where the company raised ₹6.6 crore through the issuance of 428,622 equity shares at ₹154 each. The latest capital infusion aims to support the company's expanding Bitcoin treasury and blockchain education initiatives.

The proceeds from this equity raise will be allocated towards several key areas. Firstly, the funds will be used to expand Jetking's Bitcoin holdings, which the company had initially entered in December 2024 by acquiring 12 Bitcoins valued at approximately $1.2 million. Secondly, the funds will cover general operational expenses, ensuring the smooth running of the company's core activities. Lastly, a portion of the funds will be directed towards scaling blockchain education and skill development programs, aligning with the evolving market demands and the company's strategic shift towards crypto assets.

This latest capital raise follows an earlier announcement on April 2, when the CFO outlined the company’s initial move to scale its Bitcoin-related business. At the time, Jetking issued 428,622 equity shares at ₹154 each, raising a total of ₹6.6 crore. The funds were allocated for purchasing digital assets, fulfilling operational needs, and investing in training and skill acquisition related to Bitcoin and blockchain technology.

The move to deepen its digital asset strategy comes as institutional interest in cryptocurrencies continues to rise. With the Bitcoin price surpassing $119,000, Jetking's decision to bolster its Bitcoin reserves reflects a broader trend of companies recognizing the potential of digital assets. The company's CFO, Siddarth Bharwani, emphasized that the offering complies with SEBI (ICDR) Regulations, 2018, and the Companies Act, 2013, and remains subject to regulatory and shareholder approvals. While the management structure of Jetking will remain unchanged, the shareholding pattern may see slight adjustments depending on the final allocation of the new shares.

Jetking's strategic pivot towards Bitcoin and blockchain technology is a bold move for an Indian public company. The company's initial foray into the Bitcoin market in December 2024 was met with interest from observers who drew parallels to strategies employed by prominent global players investing in digital assets. This latest funding round further solidifies Jetking's commitment to integrating cryptocurrencies into its business model, positioning itself as a forward-thinking player in the IT training industry.