RBL Bank Completes Preferential Issue and Appoints Directors as Part of Board Reconstitution

RBL Bank Completes Preferential Issue and Appoints Directors as Part of Board Reconstitution​

RBL Bank Limited announced several significant developments following its Board meeting held on June 18, 2026. The bank successfully completed a preferential issue to Emirates NBD Bank (PJSC) and made strategic changes to its board composition, including the appointment of four new directors and noting the resignations of two existing directors.

Preferential Allotment Details​

The Board approved the allotment of fully paid-up equity shares through a private placement basis to Emirates NBD Bank (PJSC). The bank allotted 92,91,34,820 equity shares at an issue price of INR 280 per share. This transaction aggregated to INR 260,15,77,49,600.

This allotment results in a change in the Bank's paid-up equity share capital. Previously, the capital stood at INR 619,42,32,130, consisting of 61,94,23,213 equity shares each with a face value of INR 10. Following the preferential issue, the total paid up equity share capital increased to INR 1548,55,80,330, which corresponds to 154,85,58,033 equity shares of INR 10 each.

Key details regarding the issuance are summarized below:

Board Appointments and Resignations​

The Board also approved the appointment of four individuals as Additional Non-Executive Non-Independent Directors. These directors are nominees of ENBD and are liable to retire by rotation. The appointments were effective from June 18, 2026, subject to subsequent shareholder approval.

The appointed directors are:

• Shayne Keith Nelson
• Patrick John Sullivan
• Neeraj Makin
• Manoj Chawla
• Marwan Mahmood Mohammad Hadi

The Board meeting also noted the resignations of two Non-Executive Non-Independent Directors: Gopal Jain and Veena Mankar. The resignations become effective immediately following the conclusion of the board meeting. Both directors cited organizational restructuring as the reason for their departure.

Profiles of Newly Appointed Directors​

The newly appointed directors, all representing Emirates NBD Bank (PJSC), possess extensive experience in banking across various global markets:

Shayne Keith Nelson
Mr. Nelson is the Group Chief Executive Officer of Emirates NBD Bank (PJSC) and has been with Emirates NBD since 2013. He previously held roles including CEO of Standard Chartered Private Bank in Singapore for three years, Regional CEO of Standard Chartered Bank Middle East and North Africa for five years, and CEO & MD of Standard Chartered Bank, Malaysia Berhad.

Patrick John Sullivan
Mr. Sullivan is the Group Chief Financial Officer at Emirates NBD (PJSC) and has been with the bank since 2020. His experience spans over 30 years in finance across the UK, Hong Kong, China, Russia, New Zealand, and UAE.

Neeraj Makin
Mr. Makin is the Group Head of Strategy, Analytics and Venture Capital at Emirates NBD (PJSC), having been with the bank since 2008. He has over 26 years of experience in strategy development, mergers and acquisitions, and international banking. Prior to joining Emirates NBD, he worked with McKinsey & Co. and Ernst Young.

Manoj Chawla
Mr. Chawla is the Group Chief Risk Officer at Emirates NBD (PJSC) since 2013. He has over 25 years of experience in risk management, having held pivotal roles in designing and implementing a Group-wide risk management framework.

Marwan Mahmood Mohammad Hadi
Mr. Hadi serves as the Group Head - Retail Banking & Wealth Management at Emirates NBD (PJSC) since 2019. He has over 20 years of experience in banking, overseeing retail, wealth management, and commercial banking across various markets.

RBLBANK Stock Price Movement​

Shares of RBL Bank Limited are edging higher to ₹371.8 as of 11:43 AM today, after gaining ₹2.60 in live trading. The continued bullish momentum sees the bank’s equity nearing its yearly high, trading against a strong intraday range that spans from ₹369.85 to ₹374.8.