The Board of Directors in its meeting held today i.e. April 01, 2025, has approved raising of funds by issuing and allotting Equity Shares on Preferential basis to the members of the Promoters ....
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Jetking Infotrain's board, at its meeting on April 1, 2025, approved raising approximately Rs. 6.60 crore by issuing up to 4,28,622 equity shares on a preferential basis at Rs. 154 per share (face value Rs. 10, premium of Rs. 144 per share). The allottees include 3 promoter group members (the Bharwani family, getting ~48,690 shares) and 4 non-promoters (getting ~3,79,932 shares). Notably, non-promoter allottees include Chetan Burman (1,90,000 shares, taking his stake to 6.44%) and Pradip Burman (1,25,000 shares), who are members of the well-known Burman family associated with Dabur. The board also approved amending the company's main objects to add businesses related to virtual digital assets, bitcoin, blockchain, NFTs, and DeFi platforms.
The ~Rs. 6.60 crore raise is relatively small but will marginally dilute promoter holding (from ~27% to ~26% combined). Participation by high-profile investors like the Burman family could lend credibility, while the company's pivot into crypto and blockchain signals a strategic diversification that may interest speculative investors but adds regulatory and execution risk.