J&K Bank to Divest 0.50% Stake in PNB MetLife for ₹120 Cr

Jammu & Kashmir Bank Ltd announced its proposal to divest 1,02,47,348 equity shares, representing 0.50% of its paid-up share capital in PNB MetLife India Insurance Company Limited, to MetLife International Holdings, LLC. The transaction is valued at ₹117.20 per share, aggregating to ₹120,09,89,186. The bank's Board of Directors approved the divestment on January 20, 2026. This divestment will reduce J&K Bank's shareholding in PNB MetLife from 3.034% to 2.534%. The transaction is subject to definitive documentation and necessary formalities, and does not involve a change in control of PNB MetLife. The competent authority determined this as a material event requiring disclosure.