SEBI has approved a change of control at RBL Bank, the lender said on Thursday, related to a proposed deal that would see Dubai's Emirates NBD acquire a majority stake.
The nod from the Securities and Exchange Board of India marks a key regulatory milestone for one of the largest cross-border deals in the country's financial sector.
A change of control in a listed company involves a shift in the right to appoint directors and manage policies and requires prior SEBI approval.
Here are some details:
* SEBI granted approval in a letter dated April 29, according to a filing.
* RBL said the deal remains subject to other regulatory approvals and conditions.
* India’s central bank approved the deal earlier this month, paving the way for Emirates NBD to acquire up to 74% of RBL share capital, subject to a minimum 51% holding, while capping voting rights at 26%.
* Post-transaction, RBL will be classified as a foreign bank subsidiary, with Emirates NBD as its parent, and governed by norms applicable to wholly-owned foreign subsidiaries.
* India’s competition regulator cleared the deal in January.
Published on April 30, 2026