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Explained: Why Tamilnad Mercantile Bank management is banking on an IPO

The management of this small, conservative bank views a public issue as a means of ending a long shareholder feud and unlocking value for its next phase of growth

Bank IPO | initial public offerings IPOs | Indian Banks

T E Narasimhan  |  Chennai 

Tamilnad Mer­cantile Bank, TMB
TMB’s management, now busy meeting lead managers and investors, is confident of getting a good valuation principally because it has managed to insulate the bank’s performance from the controversies

Hundred-year old Tamilnad Mer­cantile Bank (TMB), which has been at the centre of an internal feud for nearly two decades, is gearing up for an initial public offering (IPO) later this year. Is this undue optimism on the part of a small, conservative bank roiled by warring shareholders and little known outside its home state?



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First Published: Thu, February 11 2021. 06:10 IST