RBL Bank has appointed Bhavin Lakhpatwala as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective June 12, 2026. The appointment was approved by the Board of Directors based on recommendations from the Audit Committee and the Nomination and Remuneration Committee. Lakhpatwala brings over twenty-five years of experience in financial leadership, having served in the CFO leadership team at HDFC Bank and contributing to the HDFC Bank–HDFC Limited merger.

Leadership Transition

Consequent to this appointment, Deepak Ruiya ceases to hold the KMP designation. Ruiya, who was serving as Interim CFO and KMP since December 30, 2025, will continue in his role as Deputy CFO.

Profile of the Incoming CFO

Bhavin Lakhpatwala is a seasoned finance leader with over twenty-five years of experience across financial control, business finance, investor relations, and strategic initiatives. He is a Chartered Accountant with a strong track record in building and strengthening finance functions. He has spent over twenty years at HDFC and has been part of the senior management team in the CFO's office. His core responsibilities have spanned Financial Planning & Analysis, corporate finance, and business intelligence.

Authorized Key Managerial Personnel

The Board approved the list of KMPs authorized under Regulation 30(5) of the SEBI Listing Regulations, effective June 12, 2026. The updated KMP structure is as follows:

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Emirates NBD Bank (P.J.S.C.) reported that 0 equity shares were tendered in its mandatory open offer to acquire up to 415,586,443 equity shares of RBL Bank Limited , representing 26.00% of the expanded voting share capital. The disclosure, based on the Open Offer Escrow Demat Account statement as of 21:14:18 on June 12, 2026, indicates 0.00% acceptance of the offer size at this reporting stage. The offer price was set at ₹280.00 per share, with an applicable interest of ₹2.38 per share, totaling a maximum consideration of ₹117,353,299,774.34.

The open offer, scheduled to commence on 01 June 2026 and close on 12 June 2026, is not conditional upon a minimum level of acceptance. The transaction is subject to proportionate reduction under Regulation 7(4) of the SEBI (SAST) Regulations to ensure the acquirer's shareholding does not exceed 75.00% of the Expanded Voting Share Capital. The acquirer also agreed to subscribe to 959,045,636 equity shares via a preferential issue at ₹280.00 per share.

Offer Details

The key parameters of the open offer are summarised below:

Statutory Approvals and Conditions

The transaction requires all Required Statutory Approvals, including those from the Reserve Bank of India (RBI), the Competition Commission of India (CCI), and the Department for Promotion of Industry and Internal Trade (DPIIT). Approval from the Central Bank of United Arab Emirates (CBUAE) has also been received. The offer is open to all public shareholders, though non-resident shareholders must submit requisite RBI approvals to tender shares.

Financial Arrangements

Emirates NBD Bank provided a bank guarantee of ₹12,386,450,000.00 and deposited ₹1,163,650,000.00 in cash into an escrow account, with an additional ₹108,810,000.00 for applicable interest. The acquirer certified adequate financial resources to meet obligations. The offer price was determined as the highest of the negotiated price and the volume weighted average market price for the 60 trading days preceding the Public Announcement. The applicable interest accounts for a 31-day delay in the tendering period commencement.