HDFC Bank's Managing Director and Chief Execurtive Officer Aditya Puri has sold 7.42 million shares worth Rs 842.9 crore at a price of Rs 1,135.94 per share, according to a stock exchange filing. Puri, who held a 0.14% stake or 7.8 million shares in the bank as of June 30 2020, now holds 376,000 shares or a 0.01% stake.
Puri, who emerged as the highest paid banker among the top lenders for FY 2019-20, is set to retire in October this year on attaining the age of 70.
Last week, Puri had told shareholders at the bank's virtual AGM that his preferred successor was an internal candidate, who had spent around 25 years at the lender. While he stopped short of naming the candidate, Puri said that the candidate had "learnt very well".
Puri has been widely credited with building the bank as the most valued one by investors over nearly 26 years, and who succeeds him at the corner office is the subject of intense interest in banking and industry circles.