NEW DELHI: IndusInd Bank MD and CEO Sumant Kathpalia is planning to sell some of his shares in the private sector lender to settle loans and vesting of upcoming ESOP, the bank said on Wednesday. Kathpalia plans to sell some shares of held by him through exercise of the previous employee stock ownership plans (ESOPs), the bank said in a regulatory filing.
He wants to sell the shares “principally to exercise upcoming ESOP vesting and to repay loans taken to exercise earlier vested ESOPs”, it added.
An ESOP offers an employee the benefit to own the company’s shares.
IndusInd Bank’s shares traded down by 0.87 per cent to Rs 966.05 apiece on the BSE.
