RBL Bank Limited has informed the exchanges that Emirates NBD Bank completed its acquisition of a 60 percent stake through a preferential issue on June 18, 2026, after its open offer for public shareholders closed with no shares tendered. The transaction follows the investment agreement signed on October 18, 2025.
The open offer from Emirates NBD Bank for up to 415,586,443 equity shares with a face value of Rs 10 each, representing 26 percent of the expanded voting share capital, was priced at Rs 282.38 per share. This comprised an offer price of Rs 280 and applicable interest of Rs 2.38 per share, with a total consideration of Rs 11,735.33 crore assuming full acceptance. The offer opened on June 1, 2026 and closed on June 12, 2026. No shares were tendered by public shareholders, resulting in nil acceptance.
On June 18, 2026, RBL Bank allotted 929,134,820 equity shares at Rs 280 per share to Emirates NBD through a preferential issue. The total consideration for the preferential allotment amounted to Rs 26,015.77 crore. The letter of offer was dated May 22, 2026 and the pre-offer advertisement was published on May 28, 2026.
Emirates NBD now holds 60 percent of the total paid-up share capital of RBL Bank. Public shareholding post-completion stands at 40 percent. Before the transaction, Emirates NBD held no stake in the bank.
The post-offer advertisement, issued by J.P. Morgan India Private Limited as manager to the open offer, was published on June 19, 2026 in Financial Express, Jansatta, and Tarun Bharat. A copy of the advertisement has been hosted on the bank's website.
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.