REC LIMITED : SUCCESSFULLY ISSUED INDIA'S FIRST PILOT ISSUE ON TOKENIZED CORPORATE BONDS UNDER SEBI REGULATORY SANDBOX FRAMEWORK

• REC Limited successfully issued India's First Pilot Issue on Tokenized Corporate Bonds under SEBI Regulatory Sandbox Framework. • The size of pilot issue was ₹500 Crore (base issue of ₹100 Crore with a green shoe option of ₹400 Crore) and bidding was undertaken at EBP platform of National Stock Exchange of India Limited (NSE). • The issue received an overwhelming market response from investors, clocking a book building of ₹796 Crore (oversubscribed by ~8x). • REC has accepted ₹500 Crore at a coupon rate of 7.30% per annum for a tenor of 1 year 9 months. • The tokenised mode enabled faster settlement, with pay-in, allotment and listing of the bonds on same day. • The bonds are listed on NSE and BSE Limited.

REC Limited

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