India Clears Emirates NBD for $3 Billion Stake in RBL Bank

Emirates NBD, a leading banking group based in Dubai, has received all necessary approvals from the Government of India to acquire a controlling stake in India’s RBL Bank. This clearance paves the way for the completion of a transaction valued at approximately $3 billion (₹26,850 crore), representing one of the largest foreign investments in India’s financial services sector.

The approval, confirmed by the Indian Finance Ministry on May 14, allows Emirates NBD to invest in excess of 49 percent and up to 74 percent of RBL Bank’s total paid-up equity share capital. The deal was first announced on October 18, 2025. Emirates NBD will subscribe to over 959 million equity shares of RBL Bank at ₹280 per share through a preferential issue, giving it an initial stake of approximately 60 percent. The final shareholding is expected to range between 51 and 74 percent, subject to foreign ownership limits and the conclusion of a mandatory open offer.

The investment is a primary capital infusion intended to strengthen RBL Bank’s balance sheet and support its next phase of growth. Officials from both institutions stated the deal underscores the strengthening economic and financial linkages...