Dubai's Emirates NBD to launch RBL Bank open offer on June 1

RBL Bank

22/05/2026 16:47

BENGALURU, May 22 (Reuters) - Dubai's Emirates NBD ENBD.DU will launch its open offer on June 1 to acquire up to a 26% stake in RBL Bank RATB.NS from public shareholders at 282.38 rupees per share, according to a letter of offer filed to exchanges.

Public shareholders can tender shares from June 1. The offer will close on June 12.

The offer price of 282.38 rupees per share includes interest of 2.38 rupees, and reflects around a 15% discount to RBL Bank stock's closing price on Friday.

Total consideration for the proposed acquisition will be 117.35 billion rupees, if the offer is fully accepted.

In India, an open offer is a mandatory requirement under acquisition rules, which require the buyer taking a substantial stake in a listed company to extend an exit opportunity to public shareholders.

In October, Emirates NBD announced plans to ​buy a majority stake in the Indian lender for $3 billion, one of the largest cross-border deals in India's financial sector.

It received approval from India's central bank in April, followed by government clearance last week.

 (Reporting by Nishit Navin; Editing by Shilpi Majumdar)

 ((Nishit.Navin@thomsonreuters.com;))