REC Ltd Issues India's First Tokenized Corporate Bonds

REC Limited, a Maharatna CPSE under the Ministry of Power, has successfully issued India's first pilot issue of tokenized corporate bonds under the SEBI Regulatory Sandbox Framework. The pilot issue size was ₹500 Crore (₹100 Crore base + ₹400 Crore green shoe option), with a coupon rate of 7.30% per annum for a tenor of 1 year 9 months. The issue was oversubscribed by approximately 8x, receiving bids totaling ~₹796 Crore. This landmark issuance, supported by SEBI, RBI, and market institutions, introduces atomic Delivery-versus-Payment (DvP) settlement and shared-ledger transparency, enabling faster settlement on the same day. The bonds are listed on NSE and BSE.