Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we wish to inform you that, the ....
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Jetking Infotrain's Board, meeting on April 1, 2025, approved two key items. First, an amendment to the company's Main Object Clause to add a new business line covering virtual digital assets like Bitcoin, NFTs, blockchain technology, and decentralized finance (DeFi) platforms — subject to shareholder and regulatory approvals. Second, the Board approved raising funds by issuing up to 4,28,622 equity shares on a preferential basis at Rs.154 per share (face value Rs.10, premium Rs.144), totaling about Rs.6.60 crore. Allottees include three promoter group members (Avinash, Harsh, and Siddarth Bharwani) receiving 16,230 shares each, and four non-promoter investors, with Chetan Burman taking the largest chunk at 1,90,000 shares and Pradip Burman at 1,25,000 shares. Post-issue, promoter group shareholding drops slightly to about 26% while Chetan Burman's stake rises sharply to 6.44%.
For existing shareholders, this signals a strategic pivot into crypto and blockchain, which could be a high-risk, high-reward move, alongside a modest equity dilution of under Rs.7 crore from a small, mostly insider-heavy fundraise. The stock may see short-term volatility given the unusual crypto pivot for a small-cap IT training company, and minority shareholders should watch the shareholder vote for the MOA amendment carefully.