Tamilnad Mercantile Bank IPO: Check subscription date, price band and more
The IPO will be a fresh issue of 1.58 crore equity shares and the Tuticorin-based bank proposes to utilise the proceeds from the issue for augmenting its Tier-I capital base to meet future capital requirements, according to the Red Herring Prospectus (RHP).
![Tamilnad Mercantile Bank IPO: Check subscription date, price band and more Tamilnad Mercantile Bank IPO: Check subscription date, price band and more](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_850x478/public/2022/08/30/197568-stock-exchange-financial-graph-chart.jpg?itok=Nld2DM8Z&c=26bfe00e9e232da703e49c18d78fda54)
At the upper end of the price band, the bank is expected to mobilise Rs 831.6 crore through the IPO. Source: Freepik