Mumbai, May 23 -- Emirates NBD Bank has launched an open offer to acquire up to 26% stake in RBL Bank at Rs 282.38 per share, as the Dubai-based lender moves ahead with one of the largest cross-border banking deals in India's financial sector.

The open offer comprises a base offer price of Rs 280 per equity share and an applicable interest component of Rs 2.38 per share. The Rs 2.38 per share interest arises from a SEBI directive dated 22 April 2026, which granted Emirates NBD an extension to launch the open offer after regulatory approvals took longer than expected. Crucially, the final clearance - the Department for Promotion of Industry and Internal Trade (DPIIT) approval - came only on 14 May 2026, triggering a 31-day delay. SEBI dir...