Larsen & Toubro (L&T) raises ₹500 crore through a three-year tokenised corporate bond, marking a first for India’s private sector under SEBI’s Distributed Ledger Technology (DLT) framework. The bond is structured as a tokenised debt instrument, with settlement handled through a digital mechanism linked to a central bank digital currency (CBDC) wallet.
The development is presented as an early example of how SEBI’s DLT rules are being used by companies to issue and settle securities using tokenisation. In this case, sources say the transaction is facilitated through the CBDC wallet used for settlement, reflecting an integration between the regulatory DLT framework and the settlement technology.
Across reporting, the focus is consistently on the deal size, the tokenised nature of the bond, its three-year tenor, and L&T’s position as a first private-sector issuer under the SEBI DLT framework.
