India New Issue-REC accepts bids for debut tokenised corporate bond issue, bankers say

REC

07/09/2026 08:06

MUMBAI, Sept 7 (Reuters) - India's first-ever tokenised corporate bond sale concluded successfully as state-run REC RECM.NS accepted bids worth 5 billion rupees ($52.94 million) for bonds maturing in one year and eight months, three merchant bankers said on Monday.
REC accepted bids for the bond issue at an annual coupon of 7.30%, the bankers said, adding that the notes would be settled before the end of Monday.
Tokenised bonds are securities whose ownership, issuance, trading and settlement are recorded digitally on a blockchain or distributed ledger. The Reserve Bank of India's digital currency will be used to buy the bonds. 
This is India's first debt issue to use blockchain technology to enable instant settlements of bond transactions, placing the country alongside markets such as Europe and Hong Kong in using the technology for issuance and settlement.
Only investors with active security and CBDC wallets were allowed to place bids for the issue.
REC did not respond to a Reuters email seeking comment. 

 
Here is the list of deals reported so far on September 7: 
Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
REC
1 year and 8 months
7.30
5
September 7
AAA (Care, Crisil, Icra)
HDB Financial
Aug 2029 reissue 
2 years and 11 months
To be decided
10+10
September 8
AAA (Care, Crisil)
Shriram Finance 
Sept 2029 reissue
3 years
7.85 (yield)
10+20
September 8
AAA (Care, Icra)
Bajaj Housing 
Aug 2031 reissue
5 years
8.10 (yield)
5+15
September 7
AAA (Crisil, India Ratings)


*Size includes base plus greenshoe for some issues



($1 = 94.4450 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)
 ((Dharamraj.dhutia@tr.com))