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    HomeNewsBusinessIPOTamilnad Mercantile Bank may go for IPO

    Tamilnad Mercantile Bank may go for IPO

    Tuticorin-headquartered Tamilnad Mercantile Bank is looking to list its shares, possibly after resolving some of the issues around shareholding and ownership.

    May 10, 2011 / 10:44 IST

    Tuticorin-headquartered Tamilnad Mercantile Bank is looking to list its shares, possibly after resolving some of the issues around shareholding and ownership.


    How soon these issues would be resolved, however, remains to be seen.


    TMB's Managing Director and Chief Executive, Mr A K Jagannathan, said that the Reserve Bank wants the bank to list shares. TMB would consider a listing, he said.


    He spoke to Business Line after the release of the annual results for 2010-11 at a conference in Tuticorin on Friday.


    Mr Jagannathan was flanked by at least eight directors of the board.

    On reports that the bank's shares were being traded at levels below its book value, he said:
    first published: May 10, 2011 09:21 am

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