<h1>UAE bank to buy 60% of Indian private bank via preferential allotment, triggering SEBI Takeover Regulations (SAST) open offer &A</h1> A UAE bank proposes to acquire a 60% stake in an Indian private bank via a preferential allotment of equity for about Rs 26,853 crore, which would make the UAE bank a promoter and the acquired lender a subsidiary, subject to regulatory approvals. The transaction triggers an open offer obligation under SEBI takeover regulations and requires foreign investment limits to permit at least 51% post-issue. Board approvals include an investment agreement, increase in authorised capital, and shareholder/RBI consents. RBI approvals granted for certain related holdings are subject to compliance with the Banking Regulation Act, FEMA and applicable RBI guidelines and conditions precedent.