MUMBAI: A Rs 50-crore bond offering, at an interest rate of 10% for a two-year tenure, opened for subscription on Monday, and was fully subscribed within the first hour. By 3pm the issue was subscribed nearly eight times. There was nothing extraordinary with this offering except that the issue by city-based Prisma Global (popularly Prisma AI) was the first debt offering in India by an AI solutions company.Prisma Global works with the central and state govts, police departments, airports etc on crowd management solutions, theft & robbery prevention and suspected illegal activities.Using AI extensively, itโs moved from reactive responses to such incidents to predictive solutions that prevent those activities. Since the offer was oversubscribed on the first day, the greenshoe option of Rs 150 crore was also exercised, taking the final offer size to Rs 200 crore, Ankit Gupta, founder, BondsIndia, the arranger for Prisma Globalโs bond offering, told TOI.โThe strong bidding response reflects robust investor confidence in the issuer and the transaction,โ Gupta said. โThis will bring in confidence to a lot of non-financial entities, including manufacturing companies, trying to tap the fixed-income market to raise funds.โโWe are strategically pivoting to maximise our impact in India by leveraging our extensive network of international partners,โ said Shreeram Iyer, chairman, Prisma Global,