Jetking Infotrain is a vocational IT-training company that has spent four decades teaching hardware, networking and now cloud, cybersecurity and AI to students across India - and since 2022 it has also become India’s first listed company to hold Bitcoin as a corporate treasury asset. Incorporated in 1983, it grew from a chain of offline training centres into an omnichannel educator with a campus in Vietnam, then made a deliberate pivot into blockchain and virtual digital assets, launching a blockchain masters program and building a Bitcoin reserve. The recurring idea is to bridge the gap between what colleges teach and what employers actually need, first in IT infrastructure and now in Web3 and digital-asset skills, while using the Bitcoin treasury to give public-market investors a way to get exposure to the asset class.
Business segments
A single education engine that has been retrofitted with a Bitcoin treasury - the training business provides the operational backbone and listed-company platform, while the Bitcoin reserve sits alongside it as a growth-acceleration leg, with both feeding a shared blockchain-education identity.
1. IT and digital-skills training: the stability leg that keeps the lights on
A vocational-education business that runs diploma, masters and degree programs in cloud, cybersecurity, data science and blockchain, delivered through a mix of company-owned and franchise centres, and paid for by student fees.
- Courses built around recruiter demand - the portfolio has moved from hardware and networking into cloud computing, ethical hacking, AI, blockchain and metaverse, with the top three programs (Jetking Diploma in Cloud Computing, Jetking Diploma in Ethical Hacking, and Jetking Masters in Cloud Computing) bringing in 81% of all enrolments in FY24. Courses allow lateral entry and exit so students can join or leave at different stages, widening the addressable audience.
- Hybrid delivery with a physical moat - training happens through a blend of online, offline and hybrid classes, but the company argues that hands-on, peer-to-peer learning in a community environment is what separates it from pure-play edtech platforms that “only leveraged on the valuation game”. It operates centres under two models: COCO (company-owned, company-operated) in metros, and FICO (franchise-invested, company-operated), where the franchisee puts up the capital but Jetking runs the centre, keeping standards uniform without tying up its own cash.
- A proprietary teaching stack - the flagship classroom method is called Smart Lab Plus 5.0, which bundles online and mobile delivery with tools like mindmaps and even yoga for holistic outcomes. A centralised LMS (learning management system) with automated dashboards tracks student progress and faculty delivery across all centres, and the curriculum is aligned with National Skill Development Corporation standards.
- A lean, trust-based competitive position - the company says education “works on trust and high quality of service,” and it points to a deep feedback loop between what students expect and what recruiters want as its operational edge. In FY21 it noted low competition after NIIT shut its retail business and most rivals struggled to show engagement or performance. It had 2,630 student enrolments in the first quarter of FY25, 1,226 active partner recruiters and 2,625 job vacancies generated for students.
2. Bitcoin treasury: the growth-acceleration leg and India’s only listed Bitcoin proxy
A corporate reserve strategy that buys, holds and secures Bitcoin, giving Indian public-market investors a way to get Bitcoin exposure through a listed stock - and generating gains from changes in fair value.
- A deliberate second engine - the company took its first exposure to virtual digital assets in 2022 and then became the first listed Indian company to adopt the Bitcoin Standard, creating a framework it calls BTEAC (Bitcoin/Blockchain Treasury, Education and Adoption as a Company). It describes the treasury as the growth-acceleration leg alongside the education stability leg.
- Transparent, per-share Bitcoin metrics - the company discloses BTC per share, BTC yield and NAV, and runs a public dashboard tracking those KPIs. Bitcoin per share rose from 91.78 satoshis (hundred-millionths of a Bitcoin) in FY24 to 254.27 satoshis in FY25, and the holding grew from 5.42 BTC to 15.02 BTC over the same period. By May 2025, after deploying preferential-issue proceeds, it held 21 Bitcoins acquired at an average price of about Rs 64.65 lakh each.
- Institutional-grade custody and controls - a Board-approved Treasury Policy governs everything, with a Treasury Committee of the CFO, management and compliance head overseeing adherence. Bitcoins are held in multi-signature cold wallets with key fragments distributed and private keys secured by hardware security modules under dual authorisation. All transactions need multi-level approvals, are executed only through whitelisted wallet addresses, and are reconciled daily against blockchain records.
- A listed proxy for an asset Indians cannot easily access - the company positions itself as “India’s proxy vehicle for listed Bitcoin exposure,” giving domestic stock-market investors a regulated way to participate in Bitcoin’s price movement without directly holding the asset. It also plans to launch a virtual-digital-asset consultancy and blockchain-adoption service for businesses, extending the treasury logic into fee-based advisory.
Group structure and partners
A family-controlled listed parent with no holding company, one recently exited associate, and two new wholly-owned subsidiaries being set up in India and the UAE to house education and digital-asset activities.
- The Bharwani family controls the company, with Mr. Suresh G. Bharwani as Chairman Emeritus, Mr. Nandu G. Bharwani as Joint Managing Director and CFO, and Mr. Harsh Bharwani and Mr. Avinash Bharwani as Whole-Time Directors.
- Jetking Infotrain had one associate, Jetking Technologies Private Limited, in which it held 27.49% as of March 2025 - but a subsequent dilution dropped its stake below 20%, so the associate ceased to qualify as such. That entity provided on-site warranty support for Lenovo products in India as a subcontractor to Jetking.
- In November 2025 the board approved incorporating a wholly-owned subsidiary in India and another in the UAE, both to pursue academic development, skills training, holding and dealing in virtual digital assets, online learning platforms, franchise arrangements and infrastructure-as-a-service. The UAE subsidiary, Jetking Limited, was incorporated in June 2026.
- The company has a partnership with Lenovo India to provide on-site warranty break-fix services, and operates a campus at FPT University in Ho Chi Minh City, Vietnam.