Deals16 Oct 2026, 07:00 pm
JK Bank Completes Sale of PNB Metlife Stake for ₹120.1 Cr
AI Summary
Jammu & Kashmir Bank Ltd announced the successful completion of its transaction with MetLife International Holdings, LLC, Barclays Securities (India) Private Limited, Barclays Wealth Trustees (India) Private Limited, and Barclays Bank PLC. The bank sold its shares in PNB Metlife India Insurance Company Limited at ₹117.20 per equity share, realizing an aggregate amount of ₹120,09,89,186/-. This sale represents a 0.5% stake in PNB Metlife India Insurance Company Limited. The transaction involved an escrow agreement to facilitate the transfer of shares and sale consideration.
Key Highlights
- JK Bank sold 0.5% stake in PNB Metlife India Insurance Company Limited.
- Transaction value stands at ₹120,09,89,186/-.
- Sale price per equity share was ₹117.20.
- The deal was completed with MetLife International Holdings, LLC and Barclays entities.
- No related party transaction or special rights were involved.
Price Impact
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