Tamilnad Mercantile Bank makes a muted debut; lists at par with issue price

The stock listed at Rs 510 on the BSE, while it listed with a 6 per cent discount on the NSE

Shares of Tamilnad Mercantile Bank (TMB) made a lackluster debut on the bourses, with the stock of the private lender getting listed at par against its issue price of Rs 510 per share on the BSE on Thursday. Post listing, the stock hit an intra-day low of Rs 487, and a high of Rs 519, BSE data shows.

On the National Stock Exchange, the stock debuted at Rs 495 per share, around 6 per cent lower than the issue price. 

At 10:08 AM, TMB was at Rs 509.90, marginally lower than its issue price on the BSE. Around