REC Share Price in Focus: Issues India's First Tokenised Corporate Bonds; HDFC Bank and ICICI Bank Among Key Investors

HDFC Bank and ICICI Bank are among investors acquiring India’s inaugural tokenised bond, issued by REC Ltd, as per The Moneycontrol news report.  

This innovative bond issuance, valued at ₹500 crore, utilises blockchain technology for enhanced transaction efficiency. 

REC Ltd's Blockchain Bond Issuance 

On September 7, 2026, REC Ltd. launched India’s first tokenised bond, raising ₹500 crore. The bond is due in May 2028 and carries a coupon rate of 7.30%, enhancing its attractiveness in the debt market. 

This bond has been acquired by around 20 investors, encompassing banks, mutual funds, and corporate entities, reflecting an increased interest in blockchain-enabled financial instruments. The transaction was facilitated using the Reserve Bank of India’s digital currency. 

Prominent Investors and Their Role 

As per the report, top private lenders such as HDFC Bank and ICICI Bank took part in this issuance. Other notable participants include Axis Bank Ltd., Yes Bank Ltd., AK Capital Services Ltd., ICICI Securities Primary Dealership Ltd., Taurus Group, and Trust Investment Advisors Pvt. 

Advantages of Blockchain Technology in Bonds 

The deployment of blockchain technology in these tokenised bonds aims to improve speed, transparency, and settlement efficiency in bond trading. This pilot by REC Ltd. may incentivise further blockchain applications in corporate bonds. 

India's First Tokenised Corporate Bond Issuance 

REC Limited has successfully executed India's inaugural pilot issue of Tokenised Corporate Bonds, reaching a total size of ₹500 crore. This includes a base issue of ₹100 crore and an exercised green shoe option of ₹400 crore. The issuance was conducted under the SEBI Regulatory Sandbox Framework. 

Market Response and Performance 

The bond issuance was conducted via the EBP platform of the National Stock Exchange. The market response was overwhelming, with a book building of ₹796 crore, resulting in oversubscription by approximately 8 times its initial size. REC Limited accepted ₹500 crore at a fixed coupon rate of 7.30% per annum. 

Technological Innovations in Bond Issuance 

The bonds feature a maturity tenor of 1 year and 9 months. The technological implementation facilitated same-day pay-in, allotment, and listing on both the NSE and BSE platforms. This issuance introduced atomic Delivery-versus-Payment settlement, utilising the Demat 2.0 initiative to securely track ownership on a permissioned distributed ledger. 

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Interest in Blockchain-Backed Bonds 

As per the report, interest has been robust in tokenised bonds. Following REC's initiative, Larsen & Toubro Ltd. is also accepting bids for similar blockchain-based notes valued at up to ₹500 crore. 

REC Share Price Performance 

As of September 08, 2026, at 10:25 AM, REC share price on NSE was trading at ₹315.50, down by 0.28% from the previous closing price. 

Conclusion 

REC Ltd.’s issuance of India’s first tokenised bond for ₹500 crore, with participation from HDFC Bank and ICICI Bank, highlights the integration of blockchain in financial securities. The 7.30% coupon bond involves approximately 20 investors and utilises RBI’s digital currency for transactions. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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