Emirates NBD has received all required approvals, including from the Government of India, to acquire a majority controlling stake in RBL Bank. First announced on October 18, 2025, the deal involves Emirates NBD subscribing to about 959 million fully paid equity shares via a preferential issue at ₹280 each, totaling roughly $3 billion. The investment is expected to position Emirates NBD as promoter, with final ownership potentially ranging from 51% to 74% after foreign ownership limits and a mandatory open offer. RBL will operate as a foreign bank subsidiary, with Emirates NBD’s India branch operations in Mumbai, Chennai, and Gurugram potentially amalgamated subject to further clearances.
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