Three Indian issuers raised 10.25 billion rupees, or approximately $107.2 million, through tokenized corporate bonds under the Securities and Exchange Board of India’s “Demat 2.0” pilot. REC Ltd. raised 5 billion rupees from 18 investors, while L&T Ltd. raised a similar amount from four investors. IIFL raised 250 million rupees from one investor on the same day.
The pilot records corporate bonds as native digital tokens on a distributed ledger held by depositories. Its infrastructure connects to the RBI’s wholesale CBDC through the central bank’s “Unified Payments Interface,” enabling atomic settlement of bonds and funds.
Three Indian Companies Raise $107.2 Million Through Tokenized Bonds
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