Emirates NBD Continues Interest in IDBI Bank Acquisition
Emirates NBD, the Dubai-based lender, remains an active participant in the bid to purchase a stake in IDBI Bank. This follows the announcement of an agreement to purchase a 60% stake in RBL Bank for $3bn. According to sources cited by CNBC-TV18, Emirates NBD has not withdrawn from the IDBI Bank sale process, and continues to show interest alongside other bidders.
The bank’s size, its connections to government business, and its relationship with the Life Insurance Corporation of India (LIC) are some of the reasons for Emirates NBD’s continued interest in the acquisition.
Indian Government Plans to Finalise Stake Transfer
The Indian government is planning to finalise the transfer of its share in IDBI Bank by the end of the fiscal year 2025–26. Among the identified bidders are Fairfax Financial Holdings, Emirates NBD, Kotak Mahindra Bank, and Oaktree. According to the Financial Express, Kotak Mahindra Bank has reportedly completed due diligence for acquiring the government’s stake in IDBI Bank.
Ownership Structure of IDBI Bank
At present, the Indian government owns 45.48% of IDBI Bank, while LIC owns 49.24%. The divestment plan involves a joint divestment of 60.7% of the bank’s shares, with the government owning 30.48% and LIC 30.24%. Post-divestment, the central government would retain about 15%, and LIC would hold around 19%.
In response to requests for clarification on Emirates NBD’s position, CNBC-TV18 has reached out to the bank. However, no official statement has been provided yet.
Emirates NBD’s Open Offer for RBL Bank
In related news, RBL Bank recently revealed that Emirates NBD will be launching an open offer for public shareholders on 12 December 2025. This open offer will cover as many as 415,586,443 shares, which represents a 26% stake in RBL Bank and is priced at Rs 280 ($3.16) per share.
This move follows Emirates NBD’s announcement last month of its intent to secure a 60% stake in RBL Bank through its Indian subsidiary, which is slated to merge with RBL Bank upon the completion of the purchase.
Emirates NBD’s continued interest in IDBI Bank, coupled with its recent dealings with RBL Bank, indicates the lender’s strategic focus on expanding its presence in the Indian banking sector.
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