Mumbai, Sept. 17 -- The National Stock Exchange of India (NSE) has successfully implemented tokenisation technology for corporate bonds on its Electronic Bidding Platform (NSE EBP) under the SEBI Regulatory Sandbox Framework, enabling India's first tokenised bond issuances by REC Ltd and Larsen & Toubro Ltd, cumulatively raising Rs 1,000 Crore.
The technology was unveiled on September 10, 2026 by RBI Governor Sanjay Malhotra and SEBI Chairman Tuhin Kanta Pandey at the Global Fintech Fest 2026 in Mumbai.
REC's issuance had a base issue of Rs 100 crore and a green shoe option of Rs 400 crore. It received 7.9x subscription to the base issue, with REC accepting Rs 500 Crore at a 7.30 per cent coupon rate.
This was followed by L&T's Rs 500 crore tokenised corporate bond issuance, demonstrating its application by a private-sector issuer.
Tokenisation uses Distributed Ledger Technology (DLT) to digitally represent and manage securities, facilitating atomic settlement, greater transparency and operational efficiency.
NSE Executive Director Viral Mody said the issuances mark an important milestone in translating emerging technologies into scalable solutions for regulated market infrastructure. He also acknowledged the guidance and support of SEBI and RBI in enabling responsible innovation.
Published by HT Digital Content Services with permission from Millennium Post.