REC Ltd issues 1st Indian tokenized corporate bond, raises ₹500cr
Business
REC Ltd just made history by rolling out India's very first tokenized corporate bond, thanks to SEBI's sandbox program.
On September 7, the company raised ₹500 crore through a digital bidding process on NSE's platform.
This new-age bond uses a permissioned distributed ledger to make trading safer and more transparent.
Bond oversubscribed nearly 8 times, ₹796cr
The bond was oversubscribed nearly 8 times, totaling ₹796 crore. It offers a 7.30% coupon rate per annum for about 21 months and was listed on both NSE and BSE.
With features like atomic settlement and Demat 2.0, REC's move signals a major shift toward digitizing India's financial markets, making investing quicker and more secure for everyone.