New Delhi: HDFC Bank Managing Director (MD) Aditya Puri has sold 74.2 lakh shares of the bank which accounts for around 95 percent of his total shares. The latest exchange data showed that Puri has done the sale of shares between July 21 and 23 last week. As per a few media reports, shares have been sold for Rs 842.87 crore. However, the communication head of HDFC Bank, Neeraj Jha took on to Twitter to clarify, “Rs 840 crore mentioned in the story is the value of shares at the current price. The shares were allotted to Mr. Puri at different times, at different price points (not at par) acquisition cost & tax has to be accounted for as well. The net amount therefore will be much less.”
Puri held 0.14 percent (77.96 lakh shares) stake in HDFC Bank before the transaction, according to the latest exchange data. After this sale, Puri now has 0.01% (3.76 lakh shares) stake. The share sale comes at a time when Puri is going to retire from the highest position of the bank in October. Aditya Puri has been the MD of HDFC Bank since its inception in 1994.
