RBL Bank declines 4% as MD sells shares worth over Rs 38.5 crore

Ahuja sold the shares mainly to service personal debt and meet family commitments, the bank said

Shares of RBL Bank slipped as much as 4.29 per cent to Rs 201.55 on the BSE on Monday after the private sector lender said its managing director and CEO Vishwavir Ahuja had sold shares worth over Rs 38.5 crore in the bank.

"We have received an intimation from Vishwavir Ahuja, Managing Director and CEO of the bank, mentioning that he has sold 18,92,900 shares of RBL Bank on 27th and 28th of August, 2020 for approximately Rs 38.52 crore," RBL Bank said in a regulatory filing, on Friday. READ THE FILING HERE
 

The sale has been driven