Post-IPO, Tamilnad Mercantile Bank to up focus on RAM, go on phygital mode

TMB's IPO was subscribed 2.86 times on the last day of subscription

Tamilnad Mercantile Bank (TMB) made a muted market debut on Thursday, with the stock listing at its issue price of Rs 510. It corrected and ended the session at Rs 508.45, a decline of 0.3 per cent, and as its leader spoke about the lender’s plans.

TMB will continue its focus on the retail, agriculture and MSME (RAM) portfolio as it offers services in the physical and digital (phygital mode), said its new managing director and chief executive officer, Krishnan Sankarasubramaniam.

RAM accounts for around 88 per cent of TMB’s loan portfolio now. Sankarasubramaniam—referred for brevity as