Aditya Puri, the outgoing MD of HDFC bank, has sold nearly 95% of his stake in HDFC Bank worth Rs.843 crore. Most of these were in the nature of stocks he got as ESOPs from the bank. With this stake sale, Puri’s stake in the bank falls from 0.14% to 0.01% and he now has just 3.76 lakh shares left with. Puri demits office in October this year as he turns 70.

While the board has already sent the recommendations for the next CEO to the RBI for approval, the final decision is expected to be between two internal candidates viz. Sasidharan Jagadishan and Kaizaad Bharucha. Puri’s exit is likely to have an impact on the bank as he had led the bank from Day-1 building it into Rs.6.15 trillion MCAP in 26 years.