Bombay Stock Exchange Blocks Jetking Infotrain’s Listing Over Crypto Plans
- The Bombay Stock Exchange (BSE) rejected Jetking Infotrain’s listing due to plans to invest 60% of raised funds in virtual digital assets, primarily Bitcoin.
- Jetking aimed to raise over ₹6 crore through share sales for this investment strategy.
- Indian regulations allow companies to use profits for crypto purchases but prohibit using public fundraising for such investments.
- This is the first known case of an Indian exchange denying a listing explicitly over crypto treasury plans.
- Jetking is considering appealing the decision to the Securities Appellate Tribunal.
The Bombay Stock Exchange has denied Jetking Infotrain’s listing application due to its plan to allocate a significant portion of funds towards Bitcoin, highlighting India’s regulatory restrictions on public fundraising for crypto investments.
Source (3.2)https://cryptobriefing.com/bse-rejects-listing-crypto-investments-jetking/?rand=59535
