J&K Bank Share Price Surges Over 2%; Plans to Sell 0.50% Stake in PNB MetLife for ₹120 Crore

Jammu and Kashmir Bank has proposed selling a 0.50% stake in PNB MetLife India Insurance Company Limited to MetLife International Holdings, LLC for an aggregate consideration of ₹120.09 crore (₹120,09,89,186).  

The proposed transaction covers 1,02,47,348 equity shares at a price of ₹117.20 per share and will be completed through a cash transaction. The bank disclosed the proposal through an exchange filing dated July 15, 2026.  

Stake to Reduce to 2.534% 

The proposed sale will reduce J&K Bank's shareholding in PNB MetLife from 3.034% to 2.534% after completion. According to the bank, the transaction is intended to divest a portion of its investment in the insurer.  

It also stated that the proposed sale will not result in a change in control of PNB MetLife and does not involve a related-party transaction.  

Board Approval Was Granted Earlier 

The bank's Board of Directors approved the proposal at its meeting on 20 January 2026. However, the disclosure was made only after the competent authority concluded on 14 July 2026 that the proposed transaction met the materiality threshold under the bank's policy and SEBI's disclosure norms.  

Completion Subject to Formalities 

J&K Bank said the transaction has not yet been set in motion. Completion will depend on the execution of definitive agreements, receipt of any required regulatory or statutory approvals and fulfilment of customary closing conditions.  

The bank has not indicated a timeline for completion beyond stating that the process remains subject to these formalities.  

Details of the Transaction 

MetLife International Holdings, LLC has been identified as the proposed buyer. PNB MetLife India Insurance Company Limited is a life insurance company registered with the Insurance Regulatory and Development Authority of India (IRDAI).  

The disclosure describes the transaction as a partial divestment of J&K Bank's holding in the insurer rather than a complete exit.  

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Jammu and Kashmir Bank Share Price Performance  

As of July 15, 2026, 2:56 pm, Jammu and Kashmir Bank Ltd share price was trading at ₹182.44, up 2.84% from the previous closing price. 

Conclusion 

J&K Bank has proposed a partial divestment of its stake in PNB MetLife through a ₹120.09 crore transaction. The sale remains subject to documentation, approvals and customary closing conditions. 

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