Aditya Puri sells most of his stake in HDFC Bank for ₹843 crore

• The MD of HDFC Bank, Aditya Puri has sold over 74.2 lakh shares, 95 per cent of his stake in the bank for around Rs 842.87 crore during the week gone by.
• The development gains significance as Puri is set to retire from the top post of the bank in October after serving as the MD since its establishment in 1994.
  
• The bank's board last year set up a 6-member search committee to identify his successor.
  
  

The MD of HDFC Bank, Aditya Puri has sold over 74.2 lakh shares, 95 per cent of his stake in the bank for around Rs 842.87 crore during the week gone by.

Prior to the transaction, Puri held 0.14 per cent stake -- 77.96 lakh shares -- and post the sale he holds 0.01 per cent stake, 3.76 lakh shares, according to the latest data released by the exchanges. Puri sold the shares during July 21-23.

The development gains significance as Puri is set to retire from the top post of the bank in October after serving as the MD since its establishment in 1994.

The bank's board last year set up a 6-member search committee to identify his successor.

Puri is credited with building India's largest and most valued private sector bank. The bank's market capitalisation currently stands at Rs 6.14 lakh crore.

At the end of the day's trade on Friday, its shares were at Rs 1,118.80 on the BSE, lower by Rs 11.90 or 1.05 per cent from the previous close.

SEE ALSO:
The COVID-19 vaccine from Oxford and AstraZeneca shows 'promising' results in early human trials
Dil Bechara, Kissing Booth 2 and other movies you can watch on Netflix, Amazon Prime, Disney+Hotstar this week
WFH effect – These companies are paying for employees' power bills, internet cost and more