Emirates NBD's RBL Bank stake buy: What is the buzz
Business
Emirates NBD is making headlines by planning to buy a 26% stake in RBL Bank for ₹11,636 crore (at ₹280 per share).
The offer runs from December 12-26 and still needs Sebi's green light.
If it goes through, this will be the largest foreign takeover ever in India's banking sector.
RBL's strategy to boost digital banking and lending game
This move could give Emirates NBD more control over RBL Bank, especially since they're also eyeing a bigger total stake through preferential shares.
Since RBL shares are trading higher than the offer price, not many shareholders may sell right away.
To make this happen, RBL is looking to raise its FDI limit from 49% to 74%, hoping to bring in fresh capital and boost its digital banking and lending game—plus open up new opportunities between India and West Asia.