Emirates NBD Bank's Open Offer in RBL Bank Transaction Concludes; Shares Acquired via Preferential Issue
Emirates NBD Bank (P.J.S.C.), through its management, has finalized details regarding the Post-Offer Advertisement concerning the open offer for acquiring equity shares of RBL Bank Limited. The offer sought to purchase up to 415,586,443 fully paid-up equity shares from public shareholders of the Target Company.The Open Offer, which ran from June 1, 2026, to June 12, 2026, set an offer price for the Equity Shares at INR 282.38 per share. This aggregated amount comprises an Offer Price of INR 280.00 and Applicable Interest of INR 2.38 per Equity Share. The maximum aggregate consideration for these shares amounted to INR 117,353,299,774.34 (assuming full acceptance).
The purpose of the Open Offer was to acquire up to 26% of the Expanded Voting Share Capital of RBL Bank Limited.
Acquisition Details and Post-Offer Status
A detailed review of the transaction highlights the status of acquisitions through both agreements and the public offer.While Emirates NBD Bank aimed to acquire up to 415,586,443 shares via the Open Offer, there were nil shares accepted by the company from the general public in response to this specific open call.
However, the Acquirer had already secured a substantial stake through other means. Pursuant to an Investment Agreement executed on October 18, 2025, Emirates NBD Bank was allotted 929,134,820 Equity Shares—representing 60.00% of the total paid-up share capital—following a Preferential Issue completed on June 18, 2026.
The transaction details and shareholding positions are presented below:
| Particulars | Offer Details (Planned) | Actual Status/Target |
|---|---|---|
| Offer Price | INR 282.38 per Share | INR 282.38 per Share |
| Shares Acquired via Open Offer | Up to 415,586,443 (26%) | Nil shares accepted from the public |
| Acquirer's Shareholding Post-Offer | Target: 1,374,632,079 (86%) | Acquired 929,134,820 (60.00%) via agreements post completion of Open Offer |
The shareholding of the public shareholders prior to the transaction was recorded at 618,700,280 shares (100% of voting capital). Post consummation of the Underlying Transaction and considering the results of the open offer, the public shareholding stood at 619,423,213, which equates to 40%.
Public Disclosure
The Post-Offer Advertisement was published in Financial Express (English), Jansatta (Hindi), and Tarun Bharat (Marathi). The statement is part of a series of documents dating back to the initial public announcement made on October 18, 2025, including earlier drafts and corrigenda.KIRLOSIND Stock Price Movement
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