Tamilnad Mercantile Bank IPO Opens: 5 Points On It

The bank has reserved about 75 per cent of the offer for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs) and the remaining 10 per cent for retail investors.  The net proceeds from the primary market offering will be used to augment the lender's Tier-I capital base. On Friday, the Tamilnad Mercantile Bank faced a serious challenge from a group of investors seeking to stall the Rs 832-crore...