Indian Stock Exchange Rejects Crypto Treasury Company Listing – Details
The Bombay Stock Exchange (BSE) in India has reportedly rejected the general public itemizing of Jetking Infotrain, an IT coaching firm, on the grounds of supposed capital use for crypto funding. This determination comes amid a flurry of digital asset treasury firms worldwide.
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Crypto Investments Not Suitable For Publicly Raised Capital: BSE
In a report by native Indian media, Economic Times, the BSE barred Jetking Infotrain from publicly itemizing its shares, citing the alternate’s funding coverage round cryptocurrency. On May 9, 2025, Jetking obtained an in-principle approval from the BSE to boost funds through a share difficulty. 14 days later, the corporate’s board permitted the issuance of 396,000+ shares, elevating over ₹6 crore, i.e $720,000.
In its utility with the BSE, Jetking said the brand new capital can be focused in direction of basic company makes use of, schooling and ability improvement, and investments in digital digital belongings (VDAs). However, a major ₹3.96 crore ($475,000), i.e, 60% of the raised funds, was focused at crypto investments.
It is value noting that Jeking at present has some digital belongings on its stability sheets, as Indian firms are allowed to spend money on cryptocurrencies much like mutual funds, securities, and so forth. However, the BSE has strongly opted in opposition to elevating public capital for this goal, as indicated by its rejection of Jetking’s itemizing.
An announcement from a BSE spokesperson learn:
We had processed the applying within the regular course as per extant norms. Final approval was stored on maintain to take up the problem of fund elevate for funding in VDA on the coverage stage with the Regulator. Subsequently, as per the revised norms, a call was taken to reject the applying.
The BSE is taken into account the oldest Asian alternate and the second largest in India by buying and selling quantity after the National Stock Exchange of India. Notably, the current BSE’s determination in rejecting Jetking’s public itemizing is prone to threaten the rise of crypto treasury firms in India.
By advantage of their operations, crypto treasury corporations reminiscent of Strategy within the US, Next Technology Holding in China, leverage their standing as publicly listed firms to entry capital markets, elevating funds via fairness or debt choices which are subsequently deployed into digital belongings.
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Jetking To Appeal BSE Rejection?
Following this improvement, Jetking Co-Managing Director and Chief Financial Officer Siddharth Bharwani has said the corporate is contemplating all acceptable responses to the BSE’s determination, together with a possible attraction on the Securities Appellate Tribunal.
Notably, cryptocurrencies aren’t unlawful investments in India however are thought-about intangible belongings in that they aren’t securities or authorized tender.
Featured picture from Flickr, chart from Tradingview