NSE enables India's 1st tokenized corporate bonds, raises ₹1,000 cr
Big news from the finance world: NSE has enabled India's first-ever tokenized corporate bond issuances, collecting a total of ₹1,000 crore through its Electronic Bidding Platform.
This tech-forward move kicked off under SEBI's Regulatory Sandbox Framework.
REC Limited led the way on September 7 with a ₹500 crore issue, followed by Larsen & Toubro on September 9.
REC Limited bond oversubscribed 7.9 times
Tokenizing bonds (using distributed ledger technology) basically means more transparency and smoother operations for everyone involved.
The REC bond was a hit, oversubscribed 7.9 times by banks, financial institutions, mutual funds and depositories.
NSE's Viral Mody said, "NSE is committed to be at the forefront of technology-led innovation in India's capital markets," and said tokenisation showed NSE's ability to translate emerging technologies into "scalable solutions for regulated market infrastructure."