<h1>Jammu & Kashmir Bank to Divest 0.50% Stake in PNB MetLife to MetLife International Holdings</h1>
The Jammu & Kashmir Bank Limited has initiated a proposed divestment of equity shares in PNB MetLife India Insurance Company Limited. The Bank plans to sell 1,02,47,348 equity shares, representing 0.50% of the paid-up share capital of PNB MetLife India Insurance Company Limited (PNB MetLife) to MetLife International Holdings, LLC.
The proposed transaction has an aggregate value of ₹120,09,89,186/- and the shares are offered at a price of ₹117.20 per equity share. The purpose of the divestment is the disposal of a portion of the Bank's existing shareholding in PNB MetLife India Insurance Company Limited.
The Board of Directors of Jammu & Kashmir Bank had approved this proposed transaction during its meeting held on January 20, 2026.
Details regarding the shares and the transaction are summarized below:
| Particulars | Details |
|---|---|
| Target Entity Name | PNB MetLife India Insurance Company Limited |
| Purchaser | MetLife International Holdings, LLC |
| Shares Proposed to be Sold | 1,02,47,348 equity shares |
| Percentage Disposed | 0.50% of the paid-up share capital of PNB MetLife India Insurance Company Limited |
| Consideration (Per Share) | ₹117.20 |
| Aggregate Transaction Value | ₹120,09,89,186/- |
The transaction is expected to result in a decrease in the Bank's holding percentage from 3.034% before the proposed sale to 2.534% post-completion. The Bank's initial shareholding in PNB MetLife was 3.034%.
The transaction, which does not involve a change in control of the target entity or constitute a related party transaction, remains subject to execution of definitive documentation and completion of other necessary formalities.
J&KBANK Stock Price Movement
On Tuesday, shares of The Jammu & Kashmir Bank Limited shed 2.41% to close at ₹177.40. The stock experienced significant trading volume, with the security moving through 3.44 million shares in the session.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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