Ahead of retirement, Aditya Puri sells 95% of his stake in HDFC Bank

HDFC Bank had last year in November set-up a six-member committee to identify Puri’s successor. Image: Reuters

HDFC Bank Managing Director Aditya Puri has sold 95 per cent stake of his stake – 7.42 million shares — worth Rs 842.87 crore during July 21-23, according to stock exchange filings. Before this transaction, Puri had held 7.8 million shares 0.14 per cent stake of the bank’s equity capital. He is now left with 0.01 per cent stake or 3.76 lakh shares. The share sale by Puri came around three months ahead of his retirement from the top job as managing director since 1994. HDFC Bank had last year in November set-up a six-member committee including Sanjiv Sachar, Sandeep Parekh, Keki Mistry, Shyamala Gopinath, Srikanth Nadhamuni and M.D. Ranganathan to identify his successor.