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Emirates NBD Said to be Pursuing Minority Stake in India’s RBL Bank
July 3, 2025
Emirates NBD is said to be exploring the acquisition of a “significant minority” stake in India’s RBL Bank, as per The Economic Times citing sources. It said that the potential investment would likely be in the form of a preferential allotment to infuse capital into the Indian private sector lender. NBD may own 15-20% of the expanded equity capital base of the Indian bank, subject to regulatory approvals, with an estimated investment size of INR 3.2bn ($369mn). It noted that the transaction may go through at a premium to the current share price of RBL which trades at ~INR 250/share ($2.9/share). The report comes just months after India’s central bank, the RBI granted an in-principal approval to NBD to set-up a wholly-owned subsidiary in India.
Emirates NBD’s dollar bonds were trading stable, with its 6.125% Perp at 100.3, yielding 5.8%.
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