BSE Reject Jetking IPO Over 60% Crypto Investment Plan
Bombay Stock Exchange (BSE) don reject Jetking Infotrain IPO application after the IT training company fork 60% of their ₹6 crore fundraising for crypto investment. Jetking get in-principle approval on May 9, 2025, and dey plan to issue over 396,000 shares to raise about ₹6 crore. According to BSE rules, public capital no fit dey use for virtual digital asset purchases, but companies fit use internal profits to hold crypto. This latest Jetking IPO rejection shows how India dey cautious on regulation and fit slow down the growth of crypto treasury management strategies for public listings. Jetking dey check options, including to appeal to Securities Appellate Tribunal.
Bearish
Di BSE rejection na first crypto IPO wey dem deny, show how India dey careful and fit make other companies wey wan do crypto treasury think twice. For short term, Bitcoin fit face more selling pressure as traders dey update their mind about demand from institutions for India. For long term, all dis regulatory wahala fit slow corporate money wey dey enter market and slow market growth, make Indian investors dey bearish on BTC. Even though global demand fit help small, India market size still go mean say pressure to push market down go last.