Indian Stock Exchange Rejects Crypto Treasury Company Listing

The Bombay Inventory Trade (BSE) in India has reportedly rejected the general public itemizing of Jetking Infotrain, an IT coaching firm, on the grounds of supposed capital use for crypto funding. This resolution comes amid a flurry of digital asset treasury corporations worldwide.

Crypto Investments Not Appropriate For Publicly Raised Capital: BSE

In a report by native Indian media, Financial Instances, the BSE barred Jetking Infotrain from publicly itemizing its shares, citing the change’s funding coverage round cryptocurrency. On Might 9, 2025, Jetking obtained an in-principle approval from the BSE to lift funds by way of a share subject. 14 days later, the corporate’s board accepted the issuance of 396,000+ shares, elevating over ₹6 crore, i.e $720,000. 

In its software with the BSE, Jetking acknowledged the brand new capital can be focused in direction of normal company makes use of, schooling and ability growth, and investments in digital digital belongings (VDAs). Nonetheless, a major ₹3.96 crore ($475,000), i.e, 60% of the raised funds, was focused at crypto investments. 

It’s value noting that Jeking at present has some digital belongings on its stability sheets, as Indian corporations are allowed to put money into cryptocurrencies just like mutual funds, securities, and so on. Nonetheless, the BSE has strongly opted in opposition to elevating public capital for this goal, as indicated by its rejection of Jetking’s itemizing.

An announcement from a BSE spokesperson learn:

We had processed the applying within the regular course as per extant norms. Ultimate approval was saved on maintain to take up the difficulty of fund elevate for funding in VDA on the coverage degree with the Regulator. Subsequently, as per the revised norms, a choice was taken to reject the applying.

The BSE is taken into account the oldest Asian change and the second largest in India by buying and selling quantity after the Nationwide Inventory Trade of India. Notably, the latest BSE’s resolution in rejecting Jetking’s public itemizing is more likely to threaten the rise of crypto treasury corporations in India. 

By advantage of their operations, crypto treasury companies equivalent to Technique within the US, Subsequent Expertise Holding in China, leverage their standing as publicly listed corporations to entry capital markets, elevating funds by means of fairness or debt choices which are subsequently deployed into digital belongings.

Jetking To Attraction BSE Rejection?

Following this growth, Jetking Co-Managing Director and Chief Monetary Officer Siddharth Bharwani has acknowledged the corporate is contemplating all applicable responses to the BSE’s resolution, together with a possible enchantment on the Securities Appellate Tribunal. 

Notably, cryptocurrencies will not be unlawful investments in India however are thought-about intangible belongings in that they don’t seem to be securities or authorized tender. 

Featured picture from Flickr, chart from Tradingview

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