TechFlow news, July 21: Jetking, India's first publicly listed company adopting the Bitcoin standard, announced that its board has approved a preferential share issuance plan aimed at expanding its Bitcoin reserve operations. The plan will issue 460,000 shares to specific non-promoter investors at a price of 250 rupees per share (face value of 10 rupees plus a premium of 240 rupees), raising a total of 1.15 billion rupees. The proceeds will be used for three purposes: purchasing Bitcoin, general corporate purposes, and Bitcoin education, training, and skill development. The plan complies with the Securities and Exchange Board of India (SEBI)'s 2018 regulations and the Companies Act of 2013, and is subject to approval by shareholders and regulatory authorities. Company management will remain unchanged, although the equity structure may be adjusted.
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