RBL Bank on Saturday announced that Emirates NBD, one of the largest banking groups in the Middle East, will acquire up to a 60% stake in the Indian private lender.

The investment will involve a capital infusion of up to ₹26,853 crore at a price of ₹280 per share.

Once the preferential issue is completed, Emirates NBD will acquire control of the bank and become its promoter.

The transaction, among the largest foreign investments in India’s banking sector, remains subject to approvals from the Reserve Bank of India (RBI), shareholders, and other regulators.

RBL Bank’s board has approved an increase in its authorised share capital from ₹1,000 crore to ₹1,800 crore to facilitate the issuance of new shares to Emirates NBD.

The deal will also be subject to a cap of 24% on aggregate foreig

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