Overview
- Multiple reports say the UAE lender is negotiating a primary capital infusion via a preferential allotment, followed by a mandatory open offer, to reach roughly a 51% stake.
- Sources and local media differ on size and valuation, with one line of reporting pointing to about Rs 15,000 crore ($1.7 billion) for ~51% and another suggesting up to 60% for around $3 billion.
- People familiar with the matter say the Reserve Bank of India has signalled informal or in-principle support, though formal approvals and final terms are still pending.
- Any deal would likely cap Emirates NBD’s voting rights at 26% under RBI norms even if its total shareholding exceeds that level, according to sources and past circulars.
- RBL said in an exchange filing that it routinely evaluates strategic options and that current discussions are not yet material, as its shares rose roughly 3% and touched fresh 52-week highs on the reports.