Intimation of the Notice of Postal Ballot dated April 01, 2025.
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Jetking Infotrain has sent a Postal Ballot notice to shareholders seeking approval via e-voting (April 2 to May 1, 2025) on two special resolutions. The first resolution proposes amending the main object clause of the Memorandum of Association to add businesses related to Virtual Digital Assets, including Bitcoin, blockchain tokens, NFTs, and DeFi platforms, signalling a strategic diversification beyond its core IT training business. The second resolution seeks approval to issue up to 4,28,622 equity shares of Rs. 10 face value at Rs. 154 per share (a premium of Rs. 144), aggregating approximately Rs. 6.6 crore, on a preferential basis to 3 promoter group members and 4 non-promoter allottees. The issue price reflects a significant premium over face value, and the funds will be used for education and training (15%), acquisition of Virtual Digital Assets (60%), and general corporate purposes (25%), to be deployed within 24 months.
Existing shareholders will see dilution of roughly 4,28,622 shares, though the company states there will be no change in control. The postal ballot signals a major strategic shift towards crypto and blockchain-related businesses, which could increase both growth potential and risk profile for the stock.