RBL Bank Limited's open offer from Emirates NBD Bank (P.J.S.C.) closed with no shares tendered by public shareholders, as disclosed in the issue summary document filed by J.P. Morgan India Private Ltd, the manager to the open offer.
Emirates NBD had announced an open offer to acquire up to 415,586,443 fully paid-up equity shares of face value Rs 10 each, representing 26 percent of the expanded voting share capital of RBL Bank. The offer price was Rs 282.38 per share, comprising Rs 280 as the offer price and Rs 2.38 as interest computed at 10 percent per annum, payable in cash.
The total consideration for full acceptance under the open offer was Rs 11,735.33 crore, payable entirely in cash. The letter of offer was issued on May 22, 2026, under Regulations 3(1) and 4 read with Regulations 13, 14, and 15 of the SEBI Substantial Acquisition of Shares and Takeovers Regulations.
The issue summary document for the post-tendering stage, filed with the exchanges on June 19, 2026, confirmed that nil fully paid-up shares were acquired in the open offer. The acquired shares represented 0 percent of the paid-up capital of RBL Bank. No partly paid-up shares exist in the target company.
Emirates NBD had already received 929,134,820 subscription shares on June 18, 2026, issued pursuant to the investment agreement and the preferential issue, before the open offer period concluded. The post-offer shareholding of the acquirer stood at 929,134,820 equity shares of RBL Bank.
No consideration was paid in the open offer since no equity shares were tendered by public shareholders. The date of payment or settlement was marked as not applicable in the issue summary document filed with the exchanges.
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.