J&K Bank signs escrow for ₹120 cr PNB MetLife sale.

Jammu and Kashmir Bank Limited

has signed an escrow agreement for the sale of its PNB MetLife stake at ₹117.20 per share. The deal is valued at ₹120.10 crore. The bank is selling its 0.5% stake in PNB MetLife India Insurance. Shares will transfer through an escrow arrangement with Barclays entities. This follows the earlier share purchase agreement and moves the transaction toward completion. The key numbers are the ₹117.20 per share price and ₹120.10 crore total value. The sale will generate cash and reduce the bank’s non-core investment. Other private banks may see little direct impact. Near-term price reaction could be mildly positive on the cash inflow. Risks include any delay in final regulatory clearances. We have no financial interest in this news.