RBL Bank Completes Preferential Share Allotment to Emirates NBD; Announces Key Board Reconstructions

RBL Bank Completes Preferential Share Allotment to Emirates NBD; Announces Key Board Reconstructions​

RBL Bank Limited has announced significant changes to its capital structure and board composition following a meeting of its Board of Directors held on June 18, 2026. The bank successfully completed the preferential allotment of equity shares to Emirates NBD Bank (P.J.S.C.), which results in an increase in the paid-up equity share capital. Simultaneously, the Board approved the appointment of several new directors and noted the resignations of two existing board members.

Preferential Allotment Details​

The Bank’s Board approved the allotment of 92,91,34,820 fully paid up equity shares to Emirates NBD Bank (P.J.S.C.) on a private placement basis. The shares were offered at an issue price of INR 280 per equity share, having a face value of INR 10. This transaction aggregated to INR 260,15,77,49,600.

This capital infusion increased the Bank’s paid up equity share capital from INR 619,42,32,130 (equivalent to 61,94,23,213 equity shares) to INR 1548,55,80,330, which corresponds to 154,85,58,033 equity shares.

The details of the allotment and the shareholder relationship between Emirates NBD Bank (P.J.S.C.) and RBL Bank Limited were provided in an annexure accompanying the Board resolution.

Board Appointments and Resignations​

The meeting also addressed the reconstitution of the Bank's Board, driven by recommendations from the Nomination and Remuneration Committee.

Five new individuals were appointed as (Additional) Non-Executive Non-Independent Directors and nominees of ENBD, effective June 18, 2026:

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

The Board noted the resignations of two Non-Executive Non-Independent Directors, with effect from the conclusion of the meeting:

• Mr. Gopal Jain
• Ms. Veena Mankar

New Directors’ Profiles and Expertise​

Details regarding the newly appointed directors include their background and relationship status. For instance, Mr. Shayne Keith Nelson, who is the Group Chief Executive Officer of Emirates NBD Bank (P.J.S.C.), brings extensive experience from his tenure at Emirates NBD, where he oversaw significant growth in the bank’s market capitalisation and asset base.

Mr. Patrick Sullivan is the Group Chief Financial Officer of Emirates NBD Bank (P.J.S.C.) and possesses over 30 years of finance and banking experience across several international markets. Mr. Neeraj Makin, who serves as Group Head of Strategy, Analytics and Venture Capital at Emirates NBD Bank (P.J.S.C.), has more than 26 years of experience in strategy development, mergers and acquisitions, and investments.

Mr. Manoj Chawla is the Group Chief Risk Officer of Emirates NBD Bank (P.J.S.C.) with over 25 years of experience in proactive risk management. Mr. Marwan Hadi is the Group Head - Retail Banking & Wealth Management at Emirates NBD Bank (P.J.S.C.), bringing more than 20 years of experience covering retail, wealth and commercial banking.

LXCHEM Stock Price Movement​

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