Jammu and Kashmir Bank Ltd to divest stake in PNB MetLife

Jammu and Kashmir Bank Limited proposes to divest 1,02,47,348 equity shares constituting 0.50% of the paid-up share capital of PNB MetLife India Insurance Company Limited ("PNB MetLife") to MetLife International Holdings, LLC at a price of ₹117.20 per equity share, aggregating to ₹120,09,89,186/-.

The Board of Directors of the Bank, at its meeting held on January 20, 2026, had accorded approval for the proposed divestment of the aforesaid stake. Upon review, the competent authority determined on July 14, 2026, that the transaction qualifies as a material event requiring disclosure. Accordingly, the present disclosure is being made under Regulation 30 of SEBI (LODR) Regulations, 2015.

The proposed transaction has not been set in motion yet, and remains subject to execution of definitive documentation, and completion of other necessary formalities.

Shares of The Jammu & Kashmir Bank Limited was last trading in BSE at Rs. 177.25 as compared to the previous close of Rs. 182.55. The total number of shares traded during the day was 215698 in over 2001 trades.

The stock hit an intraday high of Rs. 182.20 and intraday low of 176.30. The net turnover during the day was Rs. 38537781.00.

Source : Equity Bulls

Keywords

TheJammuandKashmirBank INE168A01041 StakeSale PNBMetLife