scorecardresearchAhead of IPO, Tamilnad Mercantile Bank collects ₹363 crore from anchor investors

Ahead of IPO, Tamilnad Mercantile Bank collects 363 crore from anchor investors

Updated: 03 Sep 2022, 08:20 AM IST
TL;DR.
Tamilnad Mercantile Bank has decided to allocate 71.28 lakh equity shares to anchor investors at 510 apiece, aggregating the transaction size to 363.53 crore, according to a circular uploaded on the BSE website.
Tamilnad Mercantile Bank is one of the oldest private sector banks in the country with a history of almost 100 years. It offers a wide range of banking and financial services primarily to Micro, Small and Medium Enterprises (MSME), agricultural and retail customers.

Tamilnad Mercantile Bank is one of the oldest private sector banks in the country with a history of almost 100 years. It offers a wide range of banking and financial services primarily to Micro, Small and Medium Enterprises (MSME), agricultural and retail customers.