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India's stock exchange rejects IPO of encryption investment company, cautious regulatory attitude draws follow.
[Coin World] The Bombay Stock Exchange (BSE) rejected Jetking Infotrain's IPO listing application on the grounds that the company's cryptocurrency funding investments are speculative and the regulatory transparency remains to be clarified. Jetking has raised 610 million rupees through a preferred stock issuance, with part of the funds used for investing in digital assets. After the application was rejected, Jetking's stock price fell nearly 10% to 241.65 rupees within five days. The company is considering filing a legal appeal, highlighting that despite the enthusiasm of retail investors adopting cryptocurrency, India remains cautious about corporate cryptocurrency investments.