• Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Realasset Realasset
moneycontrol.com

Home » News » IPO » IPO - Upcoming Issues

Jul 31, 2012, 01.12 PM | Source: Business Line

Tamilnad Mercantile Bank gearing up for IPO

It’s almost a year-and-half now since the Nadar-community dominated Tamilnad Mercantile Bank (TMB) has been hinting about an initial public offering (IPO).

Like this story, share it with millions of investors on M3

Tamilnad Mercantile Bank gearing up for IPO

It’s almost a year-and-half now since the Nadar-community dominated Tamilnad Mercantile Bank (TMB) has been hinting about an initial public offering (IPO).

Post Your Comments

Share Cancel

It’s almost a year-and-half now since the Nadar-community dominated Tamilnad Mercantile Bank (TMB) has been hinting about an initial public offering (IPO).

Its chief executive Nagendra Murthy said, "The paperwork and ground work is almost done. We are ready. But the timing can be decided only after the court sets the date for the AGM’.

He refused to comment further on this.

This 92-year old institution is in the meantime strengthening itself. With a paid-up capital of a mere Rs 28 lakh and reserves (excluding revaluation reserve) in excess of Rs 1634 crore, the bank has grown despite various constraints / controversies.

TMB's shares (with face value of Rs 10/share) are said to be traded at over Rs 45000/share in the grey market.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Tamilnad Mercantile Bank gearing up for IPO

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login