Announced Fri, 17 Jul · 16:30 IST
Sale of 0.50% stake in PNB MetLife for about 120 crore
Strategic Transactions View source PDF
J&KBANK · price
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Price reaction · full curve 14 horizons · vs prior close
+3.2%1-day move
₹183.11
prior close
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base price
After-mkt
timing
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AI summary
J&K Bank signed an SPA with MetLife International Holdings, LLC to sell its 1,02,47,348 equity shares (0.50% of paid-up capital) in PNB MetLife India Insurance at Rs 117.20 per share, totaling about Rs 120.10 crore. The transaction is not a related party deal and J&K Bank holds no shares in the buyer entity.
Likely market impact
Minor divestment of insurance JV stake, freeing around 120 crore. Limited impact on earnings given the small 0.50% holding.