Emirates NBD Launches Open Offer for RBL Bank Shareholders Targeting 26% Stake
Emirates NBD Bank (PJS C) has announced an Open Offer aimed at acquiring shares from the public shareholders of RBL Bank Limited. The offer allows the Acquirer to acquire up to 415,586,443 fully-paid-up equity shares of the Target Company, representing 26.00% of its Expanded Voting Share Capital.The Open Offer was structured with a total consideration set at INR 117,353,299,774.34 (One hundred seventeen billion, three hundred fifty-three million, two hundred ninety-nine thousand, seven hundred seventy-four rupees thirty-four paise), payable in cash.
The offer price was determined by the base Offer Price of INR 280 per Equity Share, supplemented by an Applicable Interest of INR 2.38 per Equity Share. This premium reflects a calculation rate of 10.00% per annum on the shares.
A detailed summary of the Open Offer metrics, as reported post-tendering, is provided below:
| Particular | Details |
|---|---|
| Acquirer | Emirates NBD Bank (PJS C) |
| Target Company | RBL Bank Ltd |
| Total Shares Offered To Acquire | Up to 415,586,443 |
| Share Capital Percentage Targeted | 26.00% of Expanded Voting Share Capital |
| Base Offer Price per Fully Paid-Up Share | INR 280 |
| Applicable Interest Component | INR 2.38 (Computed at 10.00% per annum) |
| Total Consideration Value | INR 117,353,299,774.34 |
According to the post-offer summary document, no shares were acquired in the Open Offer. Consequently, fields related to settlement and payments indicated Nil for the consideration paid, interest details, and shares acquired.
As of the reporting stage, the post offer shareholding of Emirates NBD Bank (PJS C) stands at 929,134,820.
RBLBANK Stock Price Movement
Today, RBL Bank Limited shares edged higher to close at ₹378.85, gaining 2.87% in post-market trading. The bank’s stock soared, hitting its 52-week high amid strong buying interest as it settled with a volume of 9.74 million shares traded today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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