Puri sells Rs 156cr HDFC Bank shares

Mumbai: HDFC Bank CEO Aditya Puri sold 12.5 lakh shares of the private lender worth Rs 156 crore earlier this month. The bank informed the exchanges that Puri sold shares held by him to exercise stock options vested in his name, which would otherwise lapse imminently.
“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,” the lender said.
Puri, the founding CEO of HDFC Bank, is the longest serving bank chief in India. The bank, which he started in 1994, currently has a market capitalisation of Rs 6.6 lakh crore.
Puri’s term ends in October this year and the bank has appointed a search committee to identify a successor.