The Managing Director and CEO of IndusInd Bank, 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 Employee Stock Options.

"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.

Shares of IndusInd Bank on Wednesday clsoed at Rs 965.45 lower by Rs 9.10 or 0.93 as compared to  its previous closing price on the National Stock Exchange. While the benchmark  Sensex declined 290.69 points and the Nifty ended 77.95 points lower at 15,030.15

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