HDFC Bank slips over 3% as Aditya Puri sells stake

The sale comes months ahead of CEO and MD Aditya Puri’s retirement from the bank

Aditya Puri

Shares of HDFC Bank on Monday declined over 3% after its CEO and MD Aditya Puri sold shares worth ₹842.87 crore last week.

The stock dipped 3.55% to ₹1,079 on the BSE.

At the NSE, it declined 3.5% to ₹1,080.

The share sale cut Mr. Puri’s holding in the lender to just 0.01% from the earlier 0.14%, according to regulatory filings.

The sale comes months ahead of Mr. Puri’s retirement from the bank that he led to become the largest by assets among private lenders and the second-largest overall over 25 years.

A bank spokesperson said the shares were allotted to Mr. Puri over a period of time at different price points and were not given at par with the face value of the shares.