IDBI Bank, one the leading public sector banks, witnessed a sharp rise in share price on Monday on media reports of the government to sell some stake in the bank to International Finance Corporation.

"The World Bank arm that invests in private sector may pick up a 15% holding," said the media reports.

For the quarter ended September 2015, the promoter's stake i.e the Government of India's stake in the bank is 76.50%.

In FY16, the Government is expected to raise Rs 695 billion through disinvestment.

Shares of IDBI Bank are trading at Rs 92.60, up Rs 6.2, or 7.18% at the Bombay Stock Exchange (BSE) on Monday at 10:40 a.m.

The scrip has touched an intra-day high of Rs 93.85 and low of Rs 87.20. The total volume of shares traded at the BSE is 1,543,435.