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News Topical, Digital Desk : RBL Bank informed the stock exchanges on Wednesday that Emirates NBD is launching an open offer. According to the bank, the open offer for buying shares will begin on December 12th. The offer period will end on December 26th. Last month, Dubai-based Emirates NBD announced plans to acquire a 60 percent stake in RBL Bank for $3 billion, in what is considered the largest international acquisition deal in India's financial sector. The deal includes a preferential offer and an open offer to buy shares from existing investors. The price for the open offer has been set at Rs 280 per share. The stock closed at Rs 324 on Tuesday. The size of the preferential offer will depend on the response to the open offer.
RBL Bank Block Deal : Mahindra & Mahindra (M&M) is preparing to sell its entire 3.45% stake in RBL Bank. The transaction, valued at approximately ₹682 crore, will be completed through a block deal. The minimum price per share for the block deal has been set at ₹317, a discount of approximately 2.1 percent to the bank's current market price. This deal will provide M&M with a substantial return of approximately 64 percent on its ₹417 crore investment. The company acquired a minority stake in RBL Bank in July 2023 at ₹197 per share. This move marks the auto manufacturer's complete exit from the private bank, just over a year after its investment. In August 2023, M&M Managing Director and CEO Anish Shah told the media that the company had no intention of making further investments in the bank.
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