Emirates NBD to acquire majority stake in RBL Bank for $3 billion in biggest banking FDI deal

In a landmark move for India’s financial sector, UAE’s Emirates NBD Bank PJSC has committed over ₹26,000 crore ($3.05 billion) to acquire a controlling stake in RBL Bank through a combination of preferential allotment and open offer. This will make it the largest foreign direct investment in an Indian bank and the biggest equity capital raise via preferential issuance by a listed Indian company. Advertisement

As per a joint announcement by both institutions on October 18, 2025, Emirates NBD will acquire 60% of RBL Bank’s expanded share capital through a preferential allotment of 95.9 crore shares at ₹280 per share. This primary capital infusion is valued at ₹26,580 crore.

The deal also triggers a mandatory open offer for up to 26% of the bank’s shares from public shareholders, valued at