The Managing Director of HDFC Bank Aditya Puri has offloaded his 95% stake valued Rs.843 Crores in India’s largest private lender bank. As per the Insider Trading Data published by Bombay Stock Exchange the C.E.O. Aditya Puri has sold his 74.2 lakh shares of HDFC Bank in between July 21 & July 24, ere this deal he was holding around 0.14% of the bank’s Equity Capital in the form of 77.96 lakh shares.
In the F.Y. 2020 he got ESOPs about 6.82 lakh valuing around Rs.161 Crore as per the HDFC Bank’s Annual Reports data. Mr Puri was earning about Rs.15.9 Crore in the F.Y.2020 making him the highest-paid bank executive of India.
During his long period of service in HDFC Bank which started in 1994 and that is ending on October 20, 2020, he was allotted many Stock Options in HDFC Bank and HDB Financial out of which he sold Rs.161 Crore shares of HDB Financial in December last year.
After the end of his term as the Managing Director and Chief Executive officer of the bank on October 20, 2020, he will act as an advisor to the 6-member group comprising of Shyamala Gopinath, Sanjiv Sachar, M D Ranganath, Sandeep Parekh, Srikanth Nadhamuni and Keki Mistry.
Mr Puri talking about his successor said, “There has been a lot of talk about the successor not being with us for a long time. Our potential successor has been with us for 25 years. My successor was always in place with, at least in my mind. It is now for RBI to decide what has been given to them” in the annual general meeting of HDFC Bank recently.
The HDFC Bank has already shortlisted three possible successors to Mr Puri who are insiders like Sasidhar Jagdishan and Kaizad Bharucha and also the Head of Citi Commercial Bank Mr Sunil Garg. Now the bank is only waiting for the regulatory approval from RBI for its next MD & CEO.
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