Singapore: On Sept 7, REC raised Rs 500 cr through India’s first pilot issue of tokenised corporate bonds under Sebi’s regulatory sandbox. Ownership sat on a permissioned distributed ledger, settlement was in wholesale CBDC, and pay-in, allotment and listing finished the same day.
The book drew Rs 796 cr against a Rs 100 cr base issue, with Rs 500 cr accepted. Two days later, L&T raised Rs 500 cr for 3 yrs, becoming the first private issuer to follow, while IIFL Finance raised Rs 25 cr at 9.1%, the first non-PSU.
