Three Indian issuers raised a combined 10.25 billion rupees, or about $107.2 million, through tokenized corporate bonds under SEBI (India's securities regulator) Demat 2.0 pilot. REC Ltd. was the first issuer and raised 5 billion rupees, equivalent to about $52.3 million, from 18 investors. L&T Ltd. raised a similar amount from four investors, while IIFL raised 250 million rupees, or about $2.6 million, from one investor on the same day. PANews reported the development on Sept. 12, citing The Block.