Emirates NBD RBL Bank Open Offer Zero Acceptance

Open Offer Size: 415,586,443 equity shares (26.00% of Expanded Voting Share Capital)
Offer Price: ₹282.38 per share (comprising ₹280.00 offer price + ₹2.38 applicable interest)
Maximum Offer Consideration: ₹117,353,299,774.34 (assuming full acceptance)
Preferential Allotment: 929,134,820 shares acquired at ₹280 per share
Preferential Issue Value: ₹260,157,749,600 (for 929,134,820 shares)
Post-Transaction Acquirer Holding: 60.00% of total paid-up share capital
Post-Transaction Public Holding: 40.00% of total paid-up share capital

Acquirer: Emirates NBD Bank (P.J.S.C.)
Target Company: RBL Bank Limited
Manager to Offer: J.P. Morgan India Private Limited (SEBI Reg: INM000002970)
Registrar to Offer: MUFG Intime India Private Limited (SEBI Reg: INR000004058)
No Persons Acting in Concert with the Acquirer

Open Offer Result: Zero shares tendered by public shareholders
Preferential Issue Result: 929,134,820 shares allotted (60% of expanded capital)
Control Transfer: Acquirer obtained control and became promoter of RBL Bank
Compliance: Open offer was mandatory under SEBI SAST Regulations following substantial acquisition

Open Offer: No financial impact due to zero acceptance
Preferential Issue: Cash inflow of ₹260,157,749,600 to RBL Bank
Capital Structure Change: Significant dilution with new 929,134,820 shares issued

The Post-Offer Advertisement should be read in conjunction with:

Public Announcement (18 October 2025)
Detailed Public Statement (28-29 October 2025)
SEC Corrigendum (3 November 2025)
Draft Letter of Offer (4 November 2025)
RSA Corrigendum (2 February 2026)
April Corrigendum (11 April 2026)
Letter of Offer (22 May 2026)
Pre-offer advertisement cum corrigendum (27 May 2026)

Post-Offer Advertisement published on 19 June 2026 in: