In the rare instance of the world of crypto investing intersecting with Dalal Street, a little-known micro-cap company — Jetking Infotrain — used the funds it raised from stock market investors to buy bitcoins.
Jetking Infotrain informed the exchanges on May 28 that the ₹6 crore it raised through a preferential issue has been utilised to buy the world’s largest crypto token, Bitcoin.
As part of its fundraising plan, the micro-cap firm, having a market capitalisation of just ₹79 crore, raised ₹6.10 crore via allotment of 3,96,156 equity shares at a price of ₹154 each.
The company stated that the capital raised was used to acquire virtual digital assets (i.e., Bitcoin), in line with the approved objectives of the preferential issue.
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