J.P. Morgan India Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of RBL Bank Ltd ("Target Company").

Acquisition announcedOpen offerStrategic Transactions View source PDF Explain this filing

RBLBANK · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+2.5%Reaction day

₹335.75

prior close

₹340.00

announcement price

After-mkt

timing

Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)+1.2%+1.3% vs market

Private Sector Bank peers, median of 19sector+1.1%+1.4% vs sector

On the reaction day the stock moved 1.3 pts more than Nifty Smallcap 250 and 1.4 pts more than its Private Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.9

10m

+0.9

15m

+0.5

30m

-0.6

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+2.5+1.2+1.3+1.1+1.4

Next day

+2.8+1.4+1.4+1.1+1.6

+3.6+2.0+1.7+1.6+2.0

+3.3+1.3+2.0+0.5+2.9

+0.8+0.5+0.3-0.5+1.3

+2.5+1.0+1.5+0.9+1.6

+5.4+1.7+3.8+0.3+5.1

15d

+10.2+3.5+6.6+5.9+4.2

+11.3+5.5+5.7+6.5+4.7

+8.1+6.3+1.9+8.5-0.3

+14.4+9.4+5.0+11.5+2.8

UpDownMarket · Nifty Smallcap 250Sector · Private Sector Bank peers, median of 19Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Emirates NBD Bank (P.J.S.C.), a Dubai-based lender, has issued a Letter of Offer for an open offer to acquire up to 415.59 crore equity shares (26% of Expanded Voting Share Capital) of RBL Bank at ₹280 per share plus ₹2.38 applicable interest, totaling ₹282.38 per share. The maximum consideration is approximately ₹11,735 crore assuming full acceptance. This open offer is triggered under SEBI (SAST) Regulations as part of a larger transaction where Emirates NBD will also subscribe to 95.90 crore new shares via a Preferential Issue. All required statutory approvals including DPIIT approval (dated May 14, 2026) have been received. The tendering period runs from June 1 to June 12, 2026, with payment to shareholders by June 29, 2026.

Likely market impact

This represents a major foreign banking acquisition in India. If successful, Emirates NBD will become a significant controlling shareholder of RBL Bank. Existing shareholders can tender at ₹282.38 per share, which provides an exit opportunity at a premium.