Jammu & Kashmir Bank Ltd Signs Share Purchase Agreement with MetLife International Holdings, LLC
Jammu and Kashmir Bank Limited has entered into a Share Purchase Agreement (SPA) with MetLife International Holdings, LLC for the sale of shares. The agreement was executed on July 17, 2026.Under the terms of the agreement, the bank will sell 1,02,47,348 equity shares to MetLife International Holdings, LLC. These shares represent 0.50% of the paid-up share capital of PNB MetLife. The transaction is being conducted at a price of ₹117.20 per equity share, bringing the total aggregate value of the sale to ₹120,09,89,186.
The shares involved in this transaction are fully paid-up equity shares, each carrying a face value of INR 10 and one vote per equity share.
Transaction Overview
| Particulars | Details |
|---|---|
| Counterparty | MetLife International Holdings, LLC |
| Purpose | Sale of shares |
| Number of Shares | 1,02,47,348 |
| Percentage of Paid-up Capital | 0.50% |
| Price per Equity Share | ₹117.20 |
| Total Aggregate Value | ₹120,09,89,186 |
The bank confirmed that it holds no shareholding in the entity with which the agreement was executed. Furthermore, the transaction does not constitute a related party transaction, and there is no reported relationship between the listed entity and MetLife International Holdings, LLC, or PNB MetLife India Insurance Company Limited.
Stock Price Movement
Jammu & Kashmir Bank Ltd settled at ₹183.40 on Friday, climbing 3.18% at the close of trade today. The stock fluctuated between an intraday low of ₹177.00 and a high of ₹185.00.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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