New Delhi, Dubai-based Burmans’ Emirates NBD open offer to acquire an additional 26 per cent stake in RBL Bank from the open market would close on June 12.
The open offer is for the acquisition of up to 415,586,443 fully paid-up equity shares of face value of Rs 10 each, representing 26 per cent of RBL Bank, a regulatory filing said.
The price for open offer has been fixed at Rs 280 per share, along with applicable interest of Rs 2.38 per unit, it said.
Shares of RBL Bank closed at Rs 334.30, up 1.78 per cent on the BSE.
Identified date is May 15, 2026 for the purpose of determining the public shareholders to whom the letter of offer would be sent, it said.
All the public shareholders (registered or unregistered) are eligible to participate in this open offer at any time prior to the closure of the tendering period, it said.
Earlier this month, the finance ministry granted approval to Dubai-based Emirates NBD Bank (P.J.S.C) for the acquisition of up to 74 per cent stake in RBL Bank.
Emirates NBD Bank received a letter from the Department of Financial Services dated May 14, 2026, approving its proposed acquisition in RBL Bank.
The proposed investment, by way of primary infusion of approximately USD 3 billion (about 26,850 crore) represents one of the largest international investments in the Indian banking sector, and is expected to position RBL Bank strongly for its next phase of growth.
The progression of the transaction reflects sustained engagement across stakeholders in India and the UAE, and underscores the continued strengthening of economic and financial linkages between the two countries.
Last month, the Reserve Bank of India (RBI) accorded approval to Emirates NBD Bank to acquire up to 74 per cent stake in RBL Bank.
The approval was granted following Emirates NBD Bank, the second largest in the UAE, expressing its interest in October 2025 to acquire a majority 60 per cent stake in RBL Bank for Rs 26,853 crore.
As per the approval letter, Emirates NBD (ENBD) would acquire and maintain a shareholding of at least 51 per cent of the paid-up share capital of RBL Bank and the bank would be classified as a foreign bank in subsidiary mode, with the investor as its parent foreign bank.
Earlier in January, fair trade regulator CCI had approved Emirates NBD Bank’s proposal to acquire a majority stake in private sector lender RBL Bank.
