Money & Banking

HDFC Bank’s Aditya Puri sells 12.52 lakh shares worth ₹151 cr

Our Bureau Mumbai | Updated on February 29, 2020

The CEO is looking to offload more of his stake ahead of his retirement

Aditya Puri, Managing Director and CEO, HDFC Bank, sold 12.52 lakh shares in the private sector lender earlier this month and is looking to offload more of his stake. The transaction, at Monday’s closing price of ₹1,210 apiece on the BSE, would have fetched Puri over ₹151 crore.

According to a regulatory filing by the bank, Puri sold 9.01 lakh shares on February 11, followed by 3.5 lakh shares on February 12.

“We would like to further inform you that Puri intends to sell some more equity shares of the bank held by him through previous stock options, primarily to exercise stock options already vested in his name,” HDFC Bank informed the exchanges.

According to the bank’s annual report for 2018-19, Puri held 0.14 per cent stake in the lender, or about 77 lakh shares. He also exercised stock options worth ₹42.2 crore in 2018-19, and was granted 4.92 lakh stock options.

The latest share-sale by Puri comes months ahead of his retirement later this year. He has been associated with HDFC Bank since 1994 and is to retire in October 2020 on attaining 70 years of age.

HDFC Bank is likely to submit a shortlist of candidates to the Reserve Bank of India by July or August this year for the post of MD and CEO.

Published on February 24, 2020

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