RBL Bank block deal: M&M sells entire 3.53% stake; shares up 1%

Mahindra & Mahindra (M&M) on Thursday said it has sold 3.53% stake in RBL Bank for ₹678 crore representing a 62.5% gain on the investment.

On July 26, 2023, the Mumbai-based diversified firm had announced the acquisition of 3.53% stake in RBL Bank as a treasury investment at a cost of ₹417 crore.

"In furtherance to above, we would like to inform you that the company has today sold its entire stake in RBL Bank for a consideration of ₹678 crore representing a 62.5% gain on the investment," M&M said in a regulatory filing.

The company's shares were trading 1.13% up at ₹3,621.95 apiece on BSE. On the NSE, the stock was trading at ₹3,630.90, up 1.39%.

RBL Bank Q2

RBL Bank on Wednesday reported a 16% rise in its net profit to ₹160 crore for the second quarter ended September 2025 (Q2 FY26).

The private sector lender had recorded a net profit of ₹138 crore in the same quarter a year ago.

Its total income increased to ₹1,458 crore during the quarter under review from ₹1,064 crore logged in the same period of the last year, RBL Bank said in a regulatory filing.

The bank earned an interest income of ₹1,109 crore during the quarter compared to ₹865 crore a year ago.

The net interest income (NII) improved to ₹424 crore from ₹367 crore seen in the second quarter of the previous year, registering a 15% growth.

Its operating profit increased by 39% to ₹279 crore in Q2 FY26 from ₹200 crore seen in Q2 FY25.

With regard to asset quality, the gross non-performing assets (NPAs) rose to 1.81% of the gross loans by the end of September 2025 from 1.68% a year ago.

However, net NPAs or bad loans declined 0.52% from 0.69% at the end of the second quarter of the previous fiscal.

Open offer by Emirates NBD Bank

RBL Bank on Wednesday said an open offer by Emirates NBD Bank will commence from December 12 to acquire up to 26% of shares from the public.

The period for tendering of public shares will close on December 26, RBL Bank said in a regulatory filing.

This open offer under the SEBI (SAST) Regulations is to acquire up to 415,586,443 shares of face value of ₹10 for ₹280 per unit, representing 26% of the expanded voting share capital from the public shareholders, it said.

Last month, Emirates NBD Bank, the second largest in the UAE, announced a plan to acquire a majority 60% stake in RBL Bank for ₹26,853 crore, the biggest-ever financial sector deal in value terms.

The acquisition plan of Emirates NBD Bank to hold a controlling stake in RBL Bank through an infusion of approximately $3 billion (about ₹26,850 crore) marks the largest-ever foreign direct investment in India's financial services sector.