Private sector lender ING Vysya Bank has informed that it successfully completed a Qualified Institutional Placement (QIP) of Rs 230 crore.

The bank issued 92,70,455 shares at Rs 248.10 a piece totaling to Rs 230 crore to qualified institutional buyers (QIP).

The lender stated in an official communiqué, that a preferential allotment of 7,493,478 equity shares will be made to the ING Group, at the same price, which will enable the parent ING to maintain their stake at 43.93% in the Indian arm.

The total capital raised from the QIP and Preferential Placement (PP) is around Rs 415 crore.

The shares of ING Vysya Bank today closed at 265 on the BSE, up 3.25 per cent from its previous close.