TMB plans to list by 2019

Bank's shares were privately traded at around Rs 400 and this price could double before the IPO

Tamilnad Mercantile Bank (TMB) is planning an initial public offering  (IPO) before 2019. "Shareholders’ issues are being resolved. Two courts have ruled on share issues related to two factions that should resolve the matter once and for all,” said S Annamalai, chairman, TMB. If all went well, the IPO was likely before 2019, he added. 

The 96-year-old bank will list to meet Reserve Bank of India regulations. The IPO will provide an exit to some investors, mainly foreign institutional investors. 

TMB executives said the bank’s shares were privately traded at around Rs 400 and this price could double before the