J P Morgan India Private Ltd has submitted to the Exchange a copy of Open offer for acquisition of up to 415,586,443 equity shares of Rs.10 each (Equity Shares) of the company representing 26.00% of the Expanded Voting Share Capital from the Public Shareholders by Emirates NBD Bank (P.J.S.C.) pursuant to and in compliance with the requirements of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended (the SEBI (SAST) Regulations) (the Open Offer/ Offer).
RBLBANK · price
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Emirates NBD Bank (P.J.S.C.), a UAE-based bank, has triggered a mandatory open offer to acquire up to 41.55 crore equity shares of RBL Bank, representing 26% of the expanded voting share capital. The shares are being bought from public shareholders at a price to be disclosed, as required under SEBI's Takeover Regulations, 2011. J.P. Morgan India Private Ltd is acting as the manager to the open offer. This offer follows a larger underlying transaction where Emirates NBD is set to acquire a controlling stake in RBL Bank from existing promoters/investors. The open offer gives existing public shareholders a chance to exit at the offer price.
Positive near-term sentiment for RBL Bank shareholders — the open offer price typically acts as a floor for the stock, and shareholders can choose to tender their shares for a guaranteed exit. However, shareholders should wait for the detailed letter of offer to evaluate the offer price versus current market price before deciding.