J&K Bank has announced plans to sell a 0.50% stake in PNB MetLife India Insurance Company to MetLife International Holdings for about ₹120.10 crore. The bank will sell over 1.02 crore shares at ₹117.20 per share. After the sale, J&K Bank’s stake in PNB MetLife will reduce from 3.034% to 2.534%. The deal is subject to regulatory approvals and will not change the control of the insurance company.
Deal Value and Share Price
J&K Bank will sell the shares at a price of ₹117.20 per equity share. The total value of the proposed transaction is approximately ₹120.10 crore. The bank will receive the amount in cash after the transaction is completed.
Board Approved the Proposal
The Board of Directors of J&K Bank approved the proposed stake sale during its meeting held on January 20, 2026. Later, on July 14, 2026, the bank’s competent authority decided that the transaction qualifies as a material event under SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. Therefore, the bank has officially informed the stock exchanges about the proposed sale.
Bank’s Shareholding Will Reduce
Before the transaction, J&K Bank holds a 3.034% stake in PNB MetLife India Insurance Company Limited. After the proposed sale is completed, its shareholding will come down to 2.534%.
No Change in Control
The bank clarified that the proposed transaction will not result in any change in the control of PNB MetLife. It also confirmed that the transaction is not a related-party transaction.
Transaction Yet to Be Completed
J&K Bank said that the transaction has not yet started. The stake sale will be completed only after signing the required agreements, receiving regulatory approvals, and completing other necessary formalities. The completion date has not been announced.
About PNB MetLife
PNB MetLife India Insurance Company Limited is a life insurance company registered with the Insurance Regulatory and Development Authority of India (IRDAI). The company operates in the life insurance sector in India.
