Ongoing acquisition
SEBI OKs change in control of RBL Bank amid Emirates NBD's stake acquisition
This story was originally published at 21:39 IST on 4 May 2026
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NEW DELHI – The Securities and Exchange Board of India on Monday approved the change in control of RBL Bank with regard to the ongoing acquisition of "certain" shareholding by Emirates NBD Bank in the Indian lender, RBL Bank said in an exchange filing. The Dubai-based lender has proposed to buy up to 60% stake in the Indian private-sector bank, and the Competition Commission of India has already approved it on Jan. 20.
The proposal comprises a mandatory open offer under SEBI's norms, representing up to 26% of the expanded voting capital of the bank. This would be followed by a preferential allotment of equity shares amounting to up to 60% of the total paid-up equity share capital of RBL Bank. The Competition Commission has also allowed Emirates NBD Bank to amalgamate its three branches in India with RBL Bank.
In October, Emirates NBD Bank had proposed to acquire up to 60% stake in RBL Bank for INR 268.50 billion, which was cleared by the Indian lender's board. The Dubai-based lender has already made an open offer for the bank's shares in December. In a post-earnings press conference in January, RBL Bank's management said it expects all regulatory approvals for the share purchase to be completed by the June quarter.
RBL Bank's net profit for the March quarter was INR 2.30 billion, up over 234% on year and more than 7% on quarter. Its total income for the March quarter was INR 47.89 billion, a little over 7% more on year and nearly 2% on quarter. Monday, shares of the bank closed 1.9% lower at INR 330.25 on the National Stock Exchange. End
Reported by Priyasmita Dutta
Edited by Deepshikha Bhardwaj
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