RBL Bank Limited has informed the Exchange about Corrigendum to public announcement and detailed public statement.
RBLBANK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Emirates NBD Bank (P.J.S.C.) has issued a corrigendum to its open offer to acquire up to 415.6 million equity shares (26% stake) of RBL Bank at INR 280 per share, totaling approximately INR 11,636 crore. The RBI granted acquisition approval on April 1, 2026, subject to conditions regarding board composition. The RBI has mandated that provisions applicable to foreign banks operating in WOS mode apply to RBL, and the requirement for half of board directors to be independent directors shall not apply. As a result, the Investment Agreement between the Acquirer and Target has been amended on April 11, 2026, and RBL Bank must amend its Articles of Association requiring both shareholder approval (special resolution) and RBI approval. The open offer terms remain unchanged.
This is a routine corrigendum in an ongoing takeover process. The RBI's conditional approval brings the acquisition closer to completion. Existing shareholders should note the additional requirement for shareholder approval on board composition changes before the offer can proceed.