Hem Securities IPO report on Tamilnad Mercantile Bank
Tamilnad Mercantile Bank Ltd is one of the oldest and leading old private sector banks in India with a history of almost 100 years. Bank offer a wide range of banking and financial services primarily to micro, small and medium enterprises (“MSME”), agricultural and retail customers (“RAM”). As of March 31, 2022, bank have 509 branches, of which 106 branches are in rural, 247 in semi-urban, 80 in urban and 76 in metropolitan centres.
Valuation and Outlook
Also, with its strong asset quality, underwriting practices and risk management policies and procedures and consistent financial performance ,we recommend “Subscribe” on issue for long term.
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