Once upon a time in the chaotic kingdom of finance, Jetking Infotrain, an Indian IT training company, had a grand plan.
Raise a cool $720,000 through a public listing on the Bombay Stock Exchange, the BSE.
The twist? More than half that loot, roughly $475,000, was earmarked for crypto investments. Spoiler alert, BSE slammed the door shut.
The cash was destined for crypto assets
In May, BSE gave Jetking the green flag,at least in principle to woo investors with fresh shares.
Jetking quickly moved, approving over 396,000 shares to launch their capital-raising act.
But when the exchange caught wind that 60% of the raised cash was destined for virtual digital assets, aka VDAs, something inside the BSE played the grumpy regulator card.
Jetking is no stranger to crypto, they already hold some assets on their books. Indian law doesn’t say cryptocurrencies are illegal, they’re more like mysterious intangible entities that are neither securities nor legitimate currency.
Like the cat your landlord pretends doesn’t exist. Companies can dabble, just don’t drag public investors into that ride.
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Crypto investment via public funds? Not bueno
BSE’s spokesperson didn’t dance around the issue, and shared that the application stalled because investment in crypto via public funds was not cool under exchange rules.
They put the brakes on Jetking’s public listing, citing ongoing policy discussions with regulators. When the dust settled, the verdict was rejection.
For context, the Bombay Stock Exchange is a giant in Asia, India’s second-largest by trading volume, and its decisions ripple far.
This rejection is a red flag, a big one for crypto treasury firms looking to ride public markets in India.
Think of American outfit Strategy or China’s Next Technology Holding, these listed firms scoop up capital from investors, then funnel it into crypto assets. That stock market trick looks tricky indeed under BSE’s new glare.
Cautious game
Now, Jetking isn’t taking this lightly. Siddharth Bharwani, Co-Managing Director and CFO, dropped hints of a potential appeal at the Securities Appellate Tribunal.
Because when life shuts a door, you rattle the doorknob until someone notices.
For those counting, this story spotlights the ongoing tussle between crypto’s promising chaos and traditional finance’s keep-it-tidy mindset.
Indian regulators are playing a cautious game, letting crypto breathe but carefully watching where public money flows.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
📅 Published: September 29, 2025 • 🕓 Last updated: September 29, 2025
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