Emirates NBD announced that it has received all required regulatory and governmental approvals, including approval from the Government of India, for its acquisition of a majority controlling stake in RBL Bank Limited.
The bank stated that the approvals clear the way for completion of one of the largest cross-border investments in India’s financial services sector.
First announced in October 2025, Emirates NBD’s investment in RBL Bank is valued at approximately USD 3 billion (around INR 268.5 billion), representing the largest equity fund raise in the Indian banking sector and the acquisition of a majority stake in a profitable Indian bank by a foreign banking institution.
Under the transaction structure:
• Emirates NBD will subscribe to up to 959 million equity shares in RBL Bank
• Shares will be issued at INR 280 per share through a preferential issue
• The stake represents approximately 60% of RBL Bank’s post-issue paid-up share capital
• Emirates NBD’s final shareholding is expected to range between 51% and 74%, subject to applicable foreign ownership limits and the mandatory open offer process
The transaction also includes the proposed amalgamation of Emirates NBD’s India branch operations in Mumbai, Chennai and Gurugram into RBL Bank, subject to further regulatory approvals.
Upon completion, Emirates NBD will become the promoter of RBL Bank, which will operate as a foreign bank subsidiary under the Reserve Bank of India framework.
Emirates NBD stated that India remains a key strategic growth market as the group expands its presence across the Middle East, North Africa, Türkiye and South Asia region.
Source: Dubai Financial Market (DFM) Disclosure / Emirates NBD
Disclaimer: This post is for informational purposes only and should not be considered investment or financial advice.