RBL Bank open offer: Emirates NBD sets ₹282.38 price for 26% stake

Private sector lender RBL Bank Ltd on Friday (May 22) said the Dubai-based Emirates NBD Bank (P.J.S.C) has announced an open offer to acquire up to 41.59 crore equity shares of the bank, representing 26% of the expanded voting share capital, at ₹282.38 per share, including ₹280 offer price and ₹2.38 applicable interest.

The total consideration, assuming full acceptance, stands at about ₹11,735 crore.

JP Morgan India Private Ltd is acting as the manager to the offer, and MUFG Intime India Private Ltd as the registrar. RBL Bank said it has received the Letter of Offer dated May 22, 2026, from the manager in connection with the open offer.

The open offer is not conditional, not subject to minimum acceptance levels, and not a competing offer. Non-resident shareholders, including NRIs, OCBs and FPIs, may participate subject to applicable regulatory approvals.

Also Read: RBL Bank Q4 Results: Profit rises sharply; NPAs ease, loan growth strong

The acquirer has stated that required statutory approvals have already been received, while any additional approvals, if required later, will apply before closure of the tendering period. The offer allows upward revision of the price prior to the last working day before commencement of the tendering period. The minimum lot size for participation is one equity share.

The revised schedule of major activities includes the public announcement on October 18, 2025, followed by the detailed public statement on October 28, 2025, published on October 29, 2025, in Mumbai Tarun Bharat. The draft letter of offer was filed with SEBI on November 4, 2025, while the deadline for competing offers was November 19, 2025.

SEBI’s observation on the draft letter of offer was received on April 13, 2026. The identified date was May 15, 2026, followed by the dispatch of the letter of offer on May 25, 2026. The independent directors of the bank are scheduled to provide their recommendation on May 27, 2026. The last date for price revision and open offer announcement is May 29, 2026.

Also Read: RBL Bank shares fall 5% after management warns of further credit card stress, flat margins

The tendering period is scheduled to open on June 1, 2026 and close on June 12, 2026. The last date for completion of payment or refund is June 29, 2026, while the post-open offer public announcement is scheduled for July 6, 2026.

Shares of RBL Bank Ltd ended at ₹334.60, up by ₹6.15, or 1.87%, on the BSE.