RBL Bank seeks temporary cap on foreign shareholding amid Emirates NBD investment

Private sector lender RBL Bank Ltd on Wednesday (December 31) informed that it had made applications to the Reserve Bank of India and the Government of India for temporarily capping foreign shareholding

at 24% of the total equity instruments of the bank on a fully diluted basis.

The request has not been acceded to under the extant rules and regulations. The update is in relation to the proposed investment by Emirates NBD Bank (P.J.S.C) through a preferential issue of equity shares.

Subject to receipt of requisite regulatory approvals and satisfaction of other conditions precedent, the parties shall proceed with completion of the proposed transaction as per the investment agreement dated October 18, 2025.

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RBL Bank stated that, based on the latest shareholding pattern, Emirates NBD has sufficient foreign shareholding headroom to hold a minimum of 51% in the bank. Both the bank and the investor are actively engaged in fulfilling the conditions precedent to the proposed transaction. The bank will continue to keep the stock exchanges informed of any material developments.

Yesterday, RBL Bank announced that its Executive Director Rajeev Ahuja will retire from the bank upon completion of his present term, which ends on February 20, 2026.

Accordingly, Ahuja will cease to be the executive director and a key managerial personnel of RBL Bank with effect from February 21, 2026. The board has accepted his request for retirement, which coincides with the end of the term approved earlier by the Reserve Bank of India.

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The board placed on record its appreciation for Ahuja’s contribution to the bank, noting his pivotal role in its transformation from Ratnakar Bank to RBL Bank. He has been associated with the bank since 2010 and has been a core member of the senior management team for over a decade.

Shares of RBL Bank Ltd ended at ₹316.15, up by ₹6.45, or 2.08%, on the BSE today, December 31.