NEW DELHI, Sept. 7 -- REC Ltd has issued India's first pilot tokenised corporate bond under the SEBI Regulatory Sandbox Framework. The Rs 500 crore issue comprised a Rs 100 crore base issue and a Rs 400 crore green shoe option. Bidding was conducted on the NSE's EBP platform, with the issue receiving bids worth Rs 796 crore, nearly eight times the amount on offer.
REC accepted Rs 500 crore at a coupon rate of 7.30% for a tenure of 1 year and 9 months. The bonds were settled, allotted and listed on the same day, with listings on NSE & BSE.
REC Director (Finance) Rajesh Kumar said the initiative marks a significant step in the evolution of India's debt markets. The tokenised issuance enables atomic Delivery-versus-Payment settlement & shared-ledger transparency.
Under the Demat 2.0 initiative, securities ownership is recorded on a permissioned distributed ledger, reducing settlement risks and operational friction while retaining regulatory safeguards and investor protections.
Published by HT Digital Content Services with permission from Millennium Post.