HDFC Bank’s MD Aditya Puri has sold 95% of his shareholding in the bank valued at Rs 842.7 crore. Puri held 0.14% stake (or about 7.8 million shares in the bank), of which he has sold 7.42 million shares between July 21 and July 23.
Puri has been the longest serving MD of a private bank in India. He will hang up his boots this October as he will reach the maximum age limit of 70 for a Chief Executive Officer of a private bank.
He took home an annual salary of Rs 18.92 crore in 2019-20, which was 38% higher than in the previous year, and emerged the highest-paid banker among the top private lenders. Puri exercised stock options of Rs 161.56 crore during the year, according to the bank’s 2019-20 annual report.
According to exchange filings, Puri exercised 3.42 million stock options at an acquisition cost of Rs 158 crore between October 2015 and July 2020, and sold 9.65 million shares, including last week’s sale, for Rs 1,165 crore.
HDFC Bank has shortlisted three potential candidates for the position of MD after Puri demits office.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
