RBL Bank Limited has informed the exchanges that Emirates NBD Bank (P.J.S.C.) issued a pre-offer advertisement cum corrigendum to the detailed public statement in connection with its open offer to acquire up to 415,586,443 equity shares of face value Rs 10 each. The open offer represents 26% of the expanded voting share capital of the bank under the SEBI Substantial Acquisition of Shares and Takeovers Regulations.
J.P. Morgan India Private Limited, the manager to the open offer, issued the corrigendum published on May 28, 2026 in Financial Express (English), Jansatta (Hindi), and Tarun Bharat (Marathi) across all specified editions. The corrigendum should be read in conjunction with the public announcement dated October 18, 2025, the detailed public statement published on October 28 and 29, 2025, and subsequent corrigenda issued in November 2025, February 2026, and April 2026.
The offer price is Rs 280 per share, with an applicable interest of Rs 2.38 per share on account of delay, aggregating to Rs 282.38 per share payable in cash. The total consideration for full acceptance amounts to Rs 11,735.33 crore. The applicable interest was directed by SEBI under the SAST regulations for the period from May 29, 2026 to June 29, 2026.
The committee of independent directors of RBL Bank, comprising Mr. Chandan Sinha, Ms. Ranjana Agarwal, Dr. Sivakumar Gopalan, Mr. Murali Ramakrishnan, and Mr. Soma Sankara Prasad, unanimously recommended the open offer as fair and reasonable on May 25, 2026. The IDC noted that the offer price of Rs 280 is equal to the highest negotiated price for acquisition of equity shares by Emirates NBD Bank and is higher than the 60-day volume-weighted average market price of Rs 270.97 per share on the NSE.
The closing market price of RBL Bank shares on the NSE and BSE on May 22, 2026 was Rs 334.35 and Rs 334.30 per share, respectively, both higher than the offer price. The identified date for the open offer is May 15, 2026.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.