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").
RBLBANK · price
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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.
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.