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IndusInd Bank MD plans to sell shares via Employee Stock Options

The bank said that he will sell the shares to repay loans taken to exercise earlier vested ESOPS.

SNS | New Delhi |

IndusInd Bank CEO and MD Sumant Kathpalia plans to sell some of his share in the bank through previous Employee Stock Options (ESOP).

In a regulatory filing the bank said that he will sell the shares to repay loans taken to exercise earlier vested ESOPS.

“Sumant Kathpalia, Managing Director & CEO of the Bank, plans to sell some shares of IndusInd Bank Limited held by him through exercise of previous Employee Stock Options (ESOPs), principally to exercise upcoming ESOP vesting and to repay loans taken to exercise earlier vested ESOPs,” it said.

The banks shares were at Rs 967.10, lower by 7.40 per cent or 0.76 per cent from its previous close.