Intimation of the Notice of Postal Ballot dated July 21, 2025
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Jetking Infotrain has sent out a Postal Ballot Notice dated July 21, 2025, asking shareholders to vote on two special resolutions through e-voting between July 22 and August 20, 2025. The first resolution seeks to re-appoint Mr. Avinash Suresh Bharwani as Chairman and Whole-Time Director for 3 years (August 11, 2025 to August 10, 2028), with a basic salary of Rs. 82 lakhs per annum plus perquisites up to Rs. 10 lakhs, totaling Rs. 92 lakhs per year. The second resolution seeks approval to issue up to 4,60,000 equity shares at Rs. 250 per share (face value Rs. 10, premium Rs. 240), raising around Rs. 11.50 crores. These shares will be allotted on a preferential basis to 10 identified non-promoter investors, with Mr. Nitish Mittersain and Choksi Capital getting the largest share of 1,60,000 shares each. The fundraise is part of the company's broader plan to expand its Bitcoin treasury and strengthen its move into Virtual Digital Assets, following an earlier successful preferential tranche.
If shareholders approve, existing investors will see a small dilution of their holdings due to the new share issuance, while the re-appointment of the promoter director signals management continuity as the company pushes into the high-growth digital assets segment. The stock may react to the outcome of the voting on August 22, 2025.