Dubai's Emirates NBD has launched its open offer on June 1 to acquire up to 26% stake in RBL Bank at ₹282.38 per share, according to the latest reports. The offer comprises a base price of ₹280 per equity share plus an interest component of ₹2.38 per share that arises from a SEBI directive dated April 22, 2026. This penalty-linked payment compensates public shareholders for the 31-day delay caused by regulatory approvals taking longer than expected, with the final clearance from the Department for Promotion of Industry and Internal Trade (DPIIT) coming only on May 14, 2026. The tendering period runs from June 1 to June 12, 2026, with payment completion scheduled by June 29, 2026.
The total consideration for the proposed acquisition will be ₹11,735.33 crore if the offer is fully accepted, as reported by Business Standard. Emirates NBD plans to acquire 41.55 crore equity shares, representing 26% of the expanded voting share capital of the private sector lender. The transaction represents one of the largest cross-border deals in India's financial sector, with the deal valued at around $3 billion and being seen as one of the biggest foreign direct investments in India's banking sector. The open offer is a mandatory requirement under Indian acquisition rules, which require the buyer taking a substantial stake in a listed company to extend an exit opportunity to public shareholders.
Emirates NBD received approval from India's central bank in April, followed by government clearance last week, according to the latest reports. The Government of India approved Emirates NBD's proposal to acquire between 49% and 74% stake in RBL Bank earlier this month, following prior approvals from the Reserve Bank of India, Competition Commission of India, and market regulator SEBI. Under the transaction structure, Emirates NBD will subscribe to up to 95.90 crore equity shares of RBL Bank at ₹280 apiece through a preferential issue, representing nearly 60% of the bank's post-issue paid-up capital. RBL Bank will operate as a foreign bank subsidiary after completion, with Emirates NBD expected to hold at least 51% stake in the lender.
RBL Bank has demonstrated strong financial performance with its standalone net profit surging 234.37% to ₹229.71 crore while total income increased 7.01% to ₹4,789.21 crore in Q4 March 2026 over Q4 March 2025, as reported by Business Standard. The bank's shares rose 1.70% to settle at ₹335.75 on May 22, 2026, reflecting positive market sentiment around the transaction. RBL Bank operates as one of India's leading private sector banks with an expanding presence across the country, offering specialized services under five business verticals including corporate & institutional banking, commercial banking, branch & business banking, retail assets, and treasury operations.
