Jammu and Kashmir Bank Share Price in Focus; Signs Escrow Agreement for 0.5% PNB MetLife Stake Sale

Jammu and Kashmir (J&K) Bank has signed an Escrow Agreement for the sale of its 0.5% stake in PNB MetLife India Insurance Company Limited. The agreement was signed on September 21, 2026, as part of the proposed stake sale to MetLife International Holdings, LLC.  

The shares will be sold at ₹117.20 per equity share. The total value of the transaction is ₹120,09,89,186, or around ₹120.09 crore, according to the bank’s filing with the stock exchanges.  

Share Purchase Agreement Signed Earlier 

The escrow arrangement follows a Share Purchase Agreement dated July 17, 2026, between J&K Bank and MetLife International Holdings. Under that agreement, MetLife had agreed to acquire the bank’s 0.5% holding in PNB MetLife. 

The latest agreement provides for the deposit and transfer of the shares and the payment of the consideration through an independent escrow arrangement.  

Barclays to Handle Escrow 

Barclays Wealth Trustees (India) Private Limited has been appointed as the Share Escrow Agent, while Barclays Bank PLC will act as the Cash Escrow Agent. Barclays Securities (India) Private Limited is also a party to the agreement. 

The share escrow arrangement covers the transfer of the equity shares, while the cash escrow arrangement covers the purchase consideration. The filing said the arrangement is intended to protect the interests of both parties and facilitate the transaction.  

No Related Party Transaction 

J&K Bank said it does not hold any shareholding in the entities with which the escrow agreement has been executed. It also stated that the listed bank is not related to MetLife International Holdings, the escrow agents or PNB MetLife.  

The transaction has been classified as not a related party transaction. The filing also states that no special rights have been assigned to either escrow agent.  

Share Details 

The shares involved are fully paid-up equity shares with a face value of ₹10 each, with one vote attached to each share. No other disclosures relating to board nominees or potential conflicts of interest were reported.  

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Jammu and Kashmir (J&K) Bank Share Price Performance  

As of September 22, 2026, 11:32 am, Jammu and Kashmir Bank (J&K) share price was trading at ₹147.27, a 0.90% increase from the previous closing price. 

Conclusion 

The agreement sets out the escrow process for J&K Bank’s sale of its 0.5% PNB MetLife holding to MetLife International Holdings for around ₹120.09 crore. 

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