Emirates NBD Bank (P.J.S.C.) has announced an open offer to acquire up to 415,586,443 fully paid-up equity shares of RBL Bank Limited. Representing 26.00% of the expanded voting share capital, the offer is priced at ₹282.38 per share, which includes an offer price of ₹280 plus ₹2.38 in applicable interest. This acquisition aims to establish Emirates NBD as the promoter of the bank, with a total consideration of approximately ₹117.35 billion.
Strategic Acquisition Overview
The open offer by Emirates NBD Bank (P.J.S.C.) follows a broader investment agreement to acquire a majority stake and management control in RBL Bank. The acquirer plans to subscribe to new equity shares in a preferential issue alongside the open offer to reach a shareholding of up to 74.00% of the expanded voting share capital. This move is part of the acquirer’s strategy to expand its banking presence in the Indian market, positioning itself as the new promoter of the bank.
Offer Details and Timeline
The open offer price is set at ₹282.38 per share, reflecting the base offer price and accrued interest due to a delay in receipt of statutory approvals. The tendering period is scheduled to commence on June 1, 2026, and will close on June 12, 2026. Public shareholders who wish to participate must ensure their equity shares are free from any liens, charges, or encumbrances.
Amalgamation and Future Operations
In addition to the stake acquisition, the board of directors of both entities has approved a scheme of amalgamation. This scheme involves transferring the India Branches of Emirates NBD Bank into RBL Bank. This integration is designed to align the acquirer’s operations with local regulations while creating a larger, more robust banking entity. Upon completion, the acquirer intends to retain the listing of the target company on the stock exchanges and continue its existing banking activities, supported by deep global expertise in risk management and digital innovation.
Source: BSE
