Overview

• People familiar say the Dubai lender is exploring an initial purchase of about 26% from institutional investors followed by an open offer for roughly another 25% to reach near 51%.
• Mint reports the potential transaction size at over $1 billion and says J.P. Morgan is advising Emirates NBD, while the companies did not confirm the talks.
• Business Today cites an Economic Times report of a Rs 15,000 crore primary infusion via preferential shares and warrants with an in‑principle nod for change of control, which it says it could not independently verify.
• Any deal would require Reserve Bank of India approval, and a 2023 RBI circular indicates voting rights would likely be limited to 26% even if ownership exceeds that level.
• RBL Bank has a dispersed shareholding with no promoter and a market capitalization near ₹17,728.6 crore, and interest from Emirates NBD follows RBI’s earlier in‑principle approval for the bank to set up a wholly owned India subsidiary.