Emirates NBD Bank (P.J.S.C.) has announced a cash 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, at a price of ₹280.00 per equity share. This offer complies with SEBI regulations and seeks to increase Emirates NBD Bank’s stake in RBL Bank. The offer is unconditional and not subject to any minimum level of acceptance.
Details of the Open Offer
Emirates NBD Bank (P.J.S.C.) has made a cash offer to acquire up to 415,586,443 fully paid-up equity shares of RBL Bank Limited. The offer represents 26.00% of the expanded voting share capital. The offer price is ₹280.00 per equity share. This open offer is unconditional and not subject to any minimum level of acceptance.
Purpose of the Acquisition
This open offer is being made as Emirates NBD has entered into an investment agreement with RBL Bank to acquire voting rights exceeding 25.00% of the equity share capital and control of the company. Emirates NBD intends to acquire a minimum of 51.00% and a maximum of 74.00% of the total paid-up equity share capital of RBL Bank. Following the offer, Emirates NBD will become the promoter of RBL Bank.
Tentative Schedule
Key dates for the offer are as follows:
- Public Announcement: October 18, 2025
- Detailed Public Statement: October 28, 2025
- Filing of Draft Letter of Offer with SEBI: November 4, 2025
- Identified Date: November 28, 2025
- Offer Opening Date: December 12, 2025
- Offer Closing Date: December 26, 2025
Financial Arrangements
The total consideration for the offer size at the offer price is ₹116,364,204,040, assuming full acceptance and no MPS proportionate reduction. Emirates NBD has furnished a bank guarantee of ₹12,386,450,000.00.
Regulatory and Other Matters
The open offer is subject to statutory and regulatory approvals. The offer is not a competing offer and is not conditional upon any minimum level of acceptance. The Acquirer intends to retain the listing of RBL Bank and acquire sole control of the company.
Source: BSE
