PANews reported on September 28th that, according to Cryptobriefing, the Bombay Stock Exchange (BSE) rejected the listing application of IT training company Jetking Infotrain after the company disclosed plans to allocate approximately 60% of the proceeds to digital assets as a fund management strategy. Jetking Infotrain had originally planned to raise over 600 million rupees through a share sale, with the primary investment intended for Bitcoin. Following the BSE's rejection, the company stated that it is evaluating the situation and considering filing an appeal with the Securities Appellate Tribunal. This decision reflects India's current regulatory stance, which allows companies to use internal cash profits to purchase crypto assets but prohibits raising public funds specifically for such investments. The use of proceeds from share sales for digital asset investments remains restricted due to speculative risks and the lack of clear guidelines for fund management strategies. This is the first known case in India where an exchange has explicitly denied listing to a crypto asset fund management scheme.PANews reported on September 28th that, according to Cryptobriefing, the Bombay Stock Exchange (BSE) rejected the listing application of IT training company Jetking Infotrain after the company disclosed plans to allocate approximately 60% of the proceeds to digital assets as a fund management strategy. Jetking Infotrain had originally planned to raise over 600 million rupees through a share sale, with the primary investment intended for Bitcoin. Following the BSE's rejection, the company stated that it is evaluating the situation and considering filing an appeal with the Securities Appellate Tribunal. This decision reflects India's current regulatory stance, which allows companies to use internal cash profits to purchase crypto assets but prohibits raising public funds specifically for such investments. The use of proceeds from share sales for digital asset investments remains restricted due to speculative risks and the lack of clear guidelines for fund management strategies. This is the first known case in India where an exchange has explicitly denied listing to a crypto asset fund management scheme.
Bombay Stock Exchange rejects digital asset treasury firm Jetking Infotrain's listing application
PANews reported on September 28th that, according to Cryptobriefing, the Bombay Stock Exchange (BSE) rejected the listing application of IT training company Jetking Infotrain after the company disclosed plans to allocate approximately 60% of the proceeds to digital assets as a fund management strategy. Jetking Infotrain had originally planned to raise over 600 million rupees through a share sale, with the primary investment intended for Bitcoin. Following the BSE's rejection, the company stated that it is evaluating the situation and considering filing an appeal with the Securities Appellate Tribunal.
This decision reflects India's current regulatory stance, which allows companies to use internal cash profits to purchase crypto assets but prohibits raising public funds specifically for such investments. The use of proceeds from share sales for digital asset investments remains restricted due to speculative risks and the lack of clear guidelines for fund management strategies. This is the first known case in India where an exchange has explicitly denied listing to a crypto asset fund management scheme.
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