ICICI Direct: BUY RBL Bank, Target Rs 415 on ENBD Capital Infusion

• ICICI Direct recommends "Buy" for RBL Bank with a target price of Rs 415.
• The positive outlook is driven by a proposed USD 3bn capital infusion from Emirates NBD (ENBD).
• This infusion is expected to significantly boost RBL's net worth, CET1, technology, and funding competitiveness.
• RBL Bank aims to operate as a subsidiary of ENBD while remaining listed, pending approvals.
• The bank offers attractive risk-reward, with strong upside and limited downside due to an impending open offer at Rs 280/share.

Why It Matters: It signals a strong buy for RBL Bank shares, predicting over 35% upside.