HDFC Bank chief executive and managing director Aditya Puri has sold more than 74 lakh shares of the private lender to raise Rs 842.87 crore, according to regulatory filings.
The share sale, which was executed between July 21 and 23, brought down Puri’s holding in the most valued Indian lender to just 0.01 per cent from the earlier 0.14 per cent.
The sale comes months ahead of Puri’s retirement from the bank, which he led to become the largest by assets among private lenders and the second-largest overall over 25 years.
He sold 74.20 lakh of the 77.96 lakh shares in the bank and Puri’s remaining holding of the bank shares is now 3.76 lakh shares valued at over Rs 42 crore as of the last close.
A bank spokesperson explained that the shares were allotted to Puri over a period of time at different price points and stressed that they were not given at par with the face value of the share.