Mumbai-based educational firm Jetking Infotrain announced plans to raise ₹6.6 crore to purchase Bitcoin, making it the first publicly listed Indian company to actively expand its crypto assets.
Strategic Fundraising to Buy Bitcoin
Jetking's board approved a strategic capital raise to accelerate its virtual digital assets acquisition. The company will issue 428,622 shares at ₹154 each to select investors. The funds will primarily be used for Bitcoin purchases and BTC-focused education programs.
Jetking’s Journey from Electronics to Bitcoin
Founded in 1947 as an electronics manufacturer, Jetking pivoted to IT training in 1990. Today, the company operates 100 centers across India and trains 35,000 students annually. In December 2024, Jetking became the first Indian public company to add Bitcoin to its balance sheet, resulting in a 20% stock price surge.
Why This Move is a Game Changer
Jetking's decision to become the first Indian public company to hold Bitcoin on its balance sheet could inspire other corporations to reassess their stance. This aligns with global trends where companies like Tesla and MicroStrategy use Bitcoin as a corporate treasury asset.
For many in the industry, Jetking's move could signal the beginning of more widespread adoption of digital assets in India, despite skepticism and concerns over market volatility.
