The period for tendering of public shares will close on Dec. 26, (Photo source: NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

RBL Bank on Wednesday said an open offer by Emirates NBD Bank will commence from Dec. 12 to acquire up to 26% of shares from the public.

The period for tendering of public shares will close on Dec. 26, RBL Bank said in a regulatory filing.

This open offer under the Securities And Exchange Board Of India (SAST) Regulations is to acquire up to 415,586,443 shares of face value of Rs 10 for Rs 280 per unit, representing 26% of the expanded voting share capital from the public shareholders, it said.

Last month, Emirates NBD Bank, the second largest in the UAE, announced a plan to acquire a majority 60% stake in RBL Bank for Rs 26,853 cr

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