Wednesday, March 05, 2025 | 10:08 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Tamilnad Mercantile Bank eyes Rs 1,000-crore IPO by Nov-Dec 2021

The lender's FY21 net profit rose 48% to Rs 603 cr

TMB
Premium

Tamilnad Mercantile Bank

Abhijit Lele Mumbai
Private lender Tamilnad Mercantile Bank's (TMB) is planning an Initial Public Offering ( IPO) of about Rs 1,000 crore by November-December 2021. The IPO will involve combination of fresh capital plus sale of existing shares.

The shareholders of the unlisted South-based private bank have already given nod for IPO. Bank would work file prospectus with Securities and Exchange Board of India, said K V Rama Moorthy, managing director and chief executive, TMB.

The book value of bank is Rs 321 per share and capital adequacy was 18.94 per cent in March 2021, up from 16.74 per cent in March 2020.

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in