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.