RBL Bank open offer by Emirates NBD to begin on December 12

The total consideration for the offer is estimated at Rs 11,644 crore.

RBL Bank on Wednesday said that the open offer by Emirates NBD Bank to acquire up to 26 percent of its shares from public shareholders will open on December 12 and close on December 26.

In a regulatory filing, RBL Bank said the open offer under SEBI’s Substantial Acquisition of Shares and Takeovers (SAST) Regulations will be for up to 41.56 crore equity shares with a face value of Rs 10 each, at Rs 280 per share. The total consideration for the offer is estimated at Rs 11,644 crore.

The development follows Emirates NBD Bank’s plan, announced last month, to acquire a majority 60 percent stake in RBL Bank for Rs 26,853 crore, marking the largest-ever foreign direct investment (FDI) in India’s financial services sector. The UAE-based lender is the second-largest bank in the Gulf nation.

The RBL Bank board had approved raising up to Rs 26,853 crore from Emirates NBD through a preferential allotment of up to 95.9 crore shares, priced at Rs 280 per share. Once completed, Emirates NBD will hold a controlling 60 percent stake, making RBL Bank its subsidiary and classifying the UAE bank as a promoter, subject to regulatory approvals.

The proposed investment will also trigger the mandatory open offer for an additional 26 percent stake from public shareholders, in line with SEBI norms.

The landmark deal comes just weeks after Japan’s Sumitomo Mitsui Banking Corporation (SMBC) picked up a 24.9 percent stake in Yes Bank for Rs 16,333 crore, underscoring renewed foreign investor interest in India’s private banking sector.

RBL Bank recently reported a 20 percent decline in net profit for the second quarter of FY26 at Rs 179 crore, compared with Rs 223 crore in the same period last year.