The transaction, originally announced on October 18, 2025, has concluded following the receipt of all requisite approvals and satisfactory closing conditions, they said.
The investment was completed through a preferential allotment of 929.1 million fully paid-up equity shares of RBL Bank at Rs 280 per share, aggregating to about Rs 26,016 crore. As a result of the allotment, RBL Bank’s total share count has more than doubled -to 1.5485 billion from about 619.4 million.
HDFC Bank extends Keki Mistry’s interim chairman tenure by three months
In connection with the transaction, Emirates NBD also completed a mandatory open offer to RBL Bank’s public shareholders in accordance with applicable regulations. Following the completion of all legs of the transaction, Emirates NBD now holds 60% of the expanded share capital of RBL Bank.
Banks seek RBI nod to let NRIs break & rebook existing deposits
With the transaction now closed, Emirates NBD has nominated five representatives to RBL Bank’s board of directors – Shayne Keith Nelson, group CEO, Emirates NBD; Patrick John Sullivan, group chief financial officer, Emirates NBD; Neeraj Makin, senior vice president, Emirates NBD; Manoj Chawla, chief risk officer, and Marwan Mahmood Mohammad Hadi, group head, retail banking – with effect from June 18, subject to shareholder approval. Simultaneously, existing board members Gopal Jain and Veena Mankar stepped down as non-executive directors, marking a formal transition in the bank’s governance structure.When Gaja Capital backed RBL Bank 17 years ago, it was a regional bank with a Rs 1,000-crore loan book. Today, its loan book is about Rs 1.2 lakh crore, said Jain. He added that Gaja Capital invested about Rs 250 crore and was an anchor investor in multiple rounds and continues to hold more than half the original shares.