Jetking Board Approves Private Placement to Expand Bitcoin Reserves

According to Jinse Finance, Jetking, India's first publicly listed company to adopt the Bitcoin standard, has announced that its board of directors has approved a private placement plan aimed at expanding its Bitcoin reserve operations. The plan involves issuing 460,000 shares to specific non-promoter investors at a price of 250 rupees per share (face value of 10 rupees plus a premium of 240 rupees), with a total fundraising target of 1.15 billion rupees. The funds raised will be allocated to three areas: acquiring Bitcoin, general corporate purposes, and Bitcoin education, training, and skill development. This plan complies with the Securities and Exchange Board of India (SEBI) regulations of 2018 and the Companies Act of 2013, and is subject to approval by shareholders and regulatory authorities. The company's management will remain unchanged, but the equity structure may be adjusted.