Three Indian firms raise $107.2 million via tokenized corporate bonds in Demat 2.0 pilot

Three Indian issuers raised 10.25 billion rupees (approximately $107.2 million) through tokenized corporate bonds as part of the Securities and Exchange Board of India (SEBI) 'Demat 2.0' pilot program. REC Ltd. raised 5 billion rupees ($52.3 million) from 18 investors, L&T Ltd. raised a similar amount from 4 investors, and IIFL raised 250 million rupees ($2.6 million) from one investor.