The Bombay Stock Exchange rejected the listing application of the digital asset company Jetking Infotrain.

PANews, September 28, reported by Cryptobriefing, that the Bombay Stock Exchange (BSE) has rejected the listing application of IT training company Jetking Infotrain. This comes after the company disclosed plans to allocate about 60% of the funds raised as a financial management strategy for digital asset allocation. Jetking Infotrain originally planned to raise over 600 million rupees through the sale of shares and intended to mainly use the proceeds from this public offering to invest in Bitcoin. After being rejected by the Bombay Stock Exchange, the company stated that it is assessing the current situation and considering appealing to 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. Due to speculative risks and the absence of clear guidelines for fund management strategies, the use of proceeds from stock sales for digital asset investments remains restricted. This is India's first known case of a listed exchange explicitly rejecting a listing due to a crypto asset fund management plan.