Jammu & Kashmir Bank has successfully completed the sale of a 0.5% stake in PNB MetLife India Insurance Company to MetLife International Holdings for ₹120.10 crore.

The transaction was finalized on October 16, 2026, following earlier disclosures regarding the agreement. The bank confirmed the completion of the deal and the remittance of sale consideration from the buyer.

Transaction details

The following table summarises the key details of the completed stake sale:

The deal involved the transfer of fully paid-up equity shares with a face value of ₹10 each. The total consideration aggregated to ₹120,09,89,186. The transaction was executed at a price of ₹117.20 per equity share.

Deal structure and parties

Jammu & Kashmir Bank entered into a Share Purchase Agreement dated July 17, 2026, with MetLife International Holdings, LLC. To secure the interests of both parties, an Escrow Agreement was executed on September 21, 2026.

The escrow arrangements involved the following entities:

• Share Escrow Agent: Barclays Wealth Trustees (India) Private Limited
• Cash Escrow Agent: Barclays Bank PLC

The agreement stipulated the deposit and transfer of shares and purchase consideration through these independent agents. Barclays Securities (India) Private Limited was also a party to the broader transaction framework. The bank clarified that it holds no shareholding in the entities acting as escrow agents or in MetLife International Holdings.

Regulatory disclosures

In its disclosure to stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, J&K Bank stated that the transaction does not constitute a related party transaction. The bank confirmed that it is not related to MetLife International Holdings, LLC, or the escrow agents in any manner that would trigger related party norms. No special rights were assigned to the escrow agents beyond their designated roles.

Jammu and Kashmir Bank Ltd announced that its Managing Director and CEO, Amitava Chatterjee, along with the management team, will hold a conference call with analysts and investors on Thursday, October 22, 2026. The session is scheduled for 4:00 pm IST to discuss the bank's financial performance for the quarter and half-year ended September 30, 2026.

This announcement follows the earlier intimation regarding the Board Meeting date for approving the financial results for Q2FY27 and H1FY27. The conference call will be conducted via digital means, allowing participants to join through pre-registration links provided by the bank's investor relations partners.

Conference Call Details

The event is organized in connection with the release of the bank's results for the period ending September 30, 2026. An audio replay and transcript of the call will be made available on the bank's official website after the event concludes.

Access and Registration

Participants are encouraged to pre-register to avoid wait times during the live session. The call is facilitated by Emkay Global Financial Services Ltd. Dial-in numbers for various international locations, including the US, UK, Singapore, and Australia, have been made available alongside universal access numbers for domestic participants.

For further inquiries regarding the conference call, investors may contact the designated representatives at Emkay Global Financial Services Ltd as listed in the official communication.