J.P. Morgan India Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Pre-offer advertisement in accordance with Regulation 18(7) of the Securities and Exchange Board of ....
RBLBANK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Emirates NBD Bank, a Dubai-based banking group, has announced a mandatory open offer to acquire up to 26% of RBL Bank's expanded voting share capital from public shareholders. The offer price is INR 282.38 per share (INR 280 offer price plus INR 2.38 applicable interest for delay), totaling approximately INR 11,735 crore (USD 1.4 billion) assuming full acceptance. This open offer is mandatory under SEBI regulations because Emirates NBD's underlying transaction involves acquiring more than 25% of RBL Bank shares, triggering the open offer requirement. The independent directors committee has unanimously recommended the offer as 'fair and reasonable' though it noted the current market price (INR 334 on May 22, 2026) is higher than the offer price. Emirates NBD intends to retain RBL Bank's listing and acquire sole control. The offer timeline has been delayed due to SEBI observations received on April 13, 2026.
Existing shareholders who tender will receive INR 282.38 per share, which is below current market price of ~INR 334, suggesting limited acceptance unless shareholders need liquidity. The acquisition represents a significant foreign banking entry into India through RBL Bank.