The private sector lender ING Vysya Bank on Monday said it will raise Rs 416 crore by issuing shares to potential buyers and allotting equity on preferential issue basis.

The investors committee has approved to issue 92,70,455 shares to qualified institutional buyers at Rs. 248.10 a piece aggregating to Rs. 230 crore and to allot 74,93,478 shares to ING Mauritius Holdings and ING Mauritius Investments at Rs. 248.10 per share on preferential basis, aggregating to Rs. 186 crore, ING Vysya Bank said in a filing to the Bombay Stock Exchange.

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