ING Vysya Bank surges on ING Group stake sale plan report

The stock has rallied over 7% to Rs 548 on BSE.

ING Vysya Bank has surged over 7% to Rs 548 in early morning deals on BSE on reports that the promoter is planning to sell its entire stake in the private sector bank.

“ING Group NV, the biggest Dutch financial-services company, is said to be seeking a buyer for its 43% stake in ING Vysya Bank,” the Economic Times report suggests.

Currently, ING Mauritius Holdings (33.85%) and ING Mauritius Investments (9.69%) are collectively holds 43.55% stake in ING Vysya Bank, the shareholding pattern data shows.

The stock opened at Rs 540 and touched high of Rs 599 on BSE. A combined around 50,000 shares change hands on the counter till 0920 hours on BSE and NSE.