Capitalmind CEO Deepak Shenoy on Sunday described Emirates NBD Bank's planned Rs 26,853 crore investment in RBL Bank as "an effective takeover," as the UAE-based lender moves to acquire a controlling 60% stake in the Indian private sector bank.

RBL Bank's board approved the preferential allotment of 95.9 crore shares at Rs 280 each to Emirates NBD on Friday, giving the Dubai-based bank a majority stake and triggering a mandatory open offer for an additional 26%, under Indian takeover regulations. Advertisement

"RBL gets a massive 26000 cr. primary capital infusion from Emirates bank. Current market cap is 18k cr. So they get 60% plus they have to offer a 26% further open offer," Shenoy said in a post on X.

RBL gets a massive 26000 cr. primary capital infusion from Emirates bank. Curren

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