SEBI approves change of control at RBL Bank in Emirates NBD stake deal

SEBI has given its nod to a change in control at RBL Bank, the lender announced on Thursday, concerning a proposed transaction that would allow Dubai’s Emirates NBD to acquire a majority interest.

The approval from the Securities and Exchange Board of India represents a significant regulatory step for one of the largest cross‑border deals in the nation’s banking industry.

A change of control in a listed firm entails a shift in the authority to appoint directors and set policies, which necessitates prior SEBI clearance.

Details are as follows:

* SEBI’s approval was conveyed in a letter dated April 29, according to a filing.

* RBL noted that the transaction remains contingent on additional regulatory approvals and conditions.

* The Reserve Bank of India cleared the deal earlier this month, enabling Emirates NBD to take up to 74 % of RBL’s share capital, provided it holds at least 51 %, with voting rights limited to 26 %.

* After the transaction, RBL will be classified as a foreign‑bank subsidiary, with Emirates NBD as its parent, and will be subject to the regulations governing wholly owned foreign subsidiaries.

* India’s competition authority gave its clearance to the deal in January.

Published on April 30, 2026