trending Market Intelligence /marketintelligence/en/news-insights/trending/ugV1s8hOuXG-goxqBGCbUA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Jammu & Kashmir Bank to sell PNB MetLife India Insurance stake for 1.85B rupees

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Jammu & Kashmir Bank to sell PNB MetLife India Insurance stake for 1.85B rupees

Jammu & Kashmir Bank Ltd. will sell 41,111,111 equity shares of PNB MetLife India Insurance Co. Ltd. to Oman India Joint Investment Fund II for 1.85 billion rupees.

The state-run bank did not disclose additional details of the transaction, which is subject to approval from India's insurance regulator.

In November 2018, PNB MetLife India Insurance obtained regulatory approval for its planned IPO.

According to a July 27, 2018, filing with the BSE, Jammu & Kashmir Bank held 102,189,189 shares of PNB MetLife India Insurance, or a stake of 5.08%. Through the IPO, the bank had proposed to sell up to 76,641,892 shares of the insurer, or a stake of 3.81%.

U.S.-based MetLife International Holdings LLC and India's Punjab National Bank own stakes of 32.05% and 30% in PNB MetLife India Insurance, according to S&P Global Market Intelligence data.

As of March 15, US$1 was equivalent to 68.99 Indian rupees.