Emirates NBD bank launches open offer for RBL Bank shares

Emirates NBD bank is making a cash offer to acquire up to 415,586,443 fully paid-up equity shares of RBL Bank Limited, representing 26.00% of the expanded voting share capital, at an offer price of ₹280.00 per share. This open offer, valued at ₹116,364,204,040, is being made pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The tendering period for the offer is scheduled to open on Friday, December 12, 2025, and close on Friday, December 26, 2025.

The acquisition is part of Emirates NBD bank's strategy to acquire a minimum of 51.00% and a maximum of 74.00% of RBL Bank's total paid-up equity share capital, including through a preferential issue of subscription shares. This will enable Emirates NBD bank to operate in India through RBL Bank Limited in a subsidiary mode of presence. The offer is subject to various statutory and regulatory approvals, including those from the RBI, the Competition Commission of India, and the Department for Promotion of Industry and Internal Trade.

As part of the financial arrangements, Emirates NBD bank has furnished an unconditional bank guarantee of ₹12,386,450,000.00 and made a cash deposit of ₹1,163,650,000.00 into an escrow account. The bank has sufficient unencumbered balances of AED 6,200,000,000 to fulfill its payment obligations. Public shareholders are advised to consult their tax advisors regarding the tax implications of participating in the open offer.