Emirates NBD has announced its plans to buy 26% stake in RBL Bank Ltd. through an open offer consisting of up to 41.56 crore equity shares of the entity owned by public investors.
The open offer aggregates up to Rs 11,735 crore, as per an exchange filing by RBL Bank on Friday. Additionally, the Dubai-based lender has set Rs 282.38 as the offer price for the same, accomodating for the applicable interest of 2.38 on the base offer price of Rs 280 per share.
"Emirates NBD Bank (P.J.S.C.)(the “Acquirer”) has announced an Open Offer to acquire up to 415,586,443 fully-paid-up equity shares of face value INR 10/- each (“Equity Shares”) from the Public Shareholders of the Target Company, representing 26.00% of the Expanded Voting Share Capital of the Target Company," the filing stated.
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RBL Bank Stake Sale
Emirates NBD's offer to buy stake in RBL Bank has been greenlit by the Reserve Bank of India and the Ministry of Finance. The entity, which is one of the largest banks in the middle east, has been allowed to acquire up to 74% stake in RBL.
The lender had received RBI's nod for the acquisition back in April 2026, while the Indian government gave its approval earlier this month.
The central bank had cleared Emirates NBD to acquire up to 74% of RBL Bank's paid-up share capital through a letter dated April 1. The deal is expected to close in the first quarter of FY27, subject to remaining approvals and customary conditions.
In the start of the month, RBL Bank had called for an extraordinary general meeting to seek shareholder approval for changes linked to Emirates NBD Bank's planned investment, including revised board nomination rights and amendments to the bank's articles of association.
The transaction is set to become one of the most significant foreign investments in an Indian private lender and would give Emirates NBD management control of RBL Bank once completed. India permits foreign investment of up to 74% in private banks, though larger holdings by a single foreign institution require regulatory approval.
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