Page 4 - Tamilnad Mercantile Bank

Tamilnad Mercantile Bank IPO subscribed 0.8x on first day of issue

TMB is looking to issue 15.84 million fresh shares in the IPO. At the upper end of the price band, the bank will raise Rs 832 crore and will be valued at Rs 8,314 crore

Krishnan Sankarasubramaniam takes over as Tamilnad Mercantile Bank MD & CEO

Tamilnad Mercantile Bank Ltd on Sunday said veteran banker Krishnan Sankarasubramaniam has taken over as its managing director and Chief Executive Officer with immediate effect. Sankarasubramaniam succeeds K V Rama Moorthy and his term would be for a period of three years, which has been approved by the Reserve Bank of India. Prior to taking up the new role, Sankarasubramaniam was serving Punjab and Sind Bank as its Managing Director and CEO, a bank statement said here. During his tenure at Punjab and Sind Bank, he played a crucial role in the bank's turnaround leading to it registering the highest ever profit in 2021-22. A post graduate in commerce from the Madurai Kamaraj University and a qualified cost accountant, Sankarasubramaniam had served Syndicate Bank as its executive director before joining Punjab and Sind Bank. As executive director at Syndicate Bank, he was overseeing almost all the portfolios of the bank particularly corporate credit, integrated treasury, risk ...

Street Signs: GMP of TMB, DreamFolks positive, market trend positive & more

Analysts recommend traders to maintain a bullish bias and buy on dips

SAT dismisses plea opposing Tamilnad Mercantile Bank's Rs 830 cr IPO

Three shareholders of TMB had sought a stay on the share sale, aggrieved by TMB's decision to drop the OFS component

Tamilnad Mercantile settling all disputes, keen on opening branches: CEO

Lender waiting for RBI to ease restrictions, says K V Rama Moorthy about his expansion plans

TMB sets price band of Rs 500-525 a share: IPO to open on September 5

Offer consists of fresh issue of 15.8 mn equity shares; bank is expected to raise Rs 832 crore at the upper end of the band; stock will start trading on Sept 15

Battered by three decades of controversy, TMB looks back to the future

The storied bank hopes to put its troubles behind it with its impending IPO

Sebi clears decks for IPO of 100-year-old lender Tamilnad Mercantile Bank

It's a fresh issue-cum-OFS; Axis Capital, Motilal Oswal Investment Advisors and SBI Capital Markets are book running lead managers

Tuticorin-based Tamilnad Mercantile Bank gets Sebi's nod to float IPO

Going by the draft papers, the bank proposes to utilise the net proceeds from the fresh issue towards augmenting its Tier-I capital base to meet its future capital requirement

Tamilnad Mercantile Bank's Q4 net rises 36%, total income increases 9%

Tamilnad Mercantile Bank's Q4 result: The total interest earned increased 6.23 per cent to Rs 3,833.86 crore for FY22 as compared to Rs 3,609.05 crore for the previous year

ED seizes Rs 293 cr worth shares of ex-Tamilnad Mercantile Bank chairman

The seized assets are in the form of shareholdings of Muthu alias MGM Maran in four Indian companies

Tamilnad Mercantile Bank files DRHP with Sebi for Rs 1,000 cr IPO

The IPO will include an issue of 15.83 million fresh equity shares at a face value of Rs 10 each and an offer for sale of up to 12,505 shares by promoters and existing shareholders

Tamilnad Mercantile Bank eyes Rs 1,000-crore IPO by Nov-Dec 2021

The lender's FY21 net profit rose 48% to Rs 603 cr

Tamilnad Mercantile Bank plans IPO of up to Rs 1,200 crore this fiscal

The Tamilnad Mercantile Bank will turn 100 this year

Tamilnad Mercantile Bank Q3 net almost doubles to Rs 181 cr on robust NII

The lender's NII was up 8.46% to Rs 428.73 cr from Rs 338.72 cr, while operating profit rose 36.72% to Rs 349.82 cr

Tamilnad Mercantile Bank H1 profit up 60% to Rs 242 cr, GNPAs drop 25%

The bank is stringly focused on priority sector, which constitutes 75.64% of its adjusted net banking credit, and are above the regulatory norm of 40%

Tamilnad Mercantile Bank shareholders vote for IPO, reveals Madras HC

Development comes after several rejections of IPO proposal the past few years; former Chairman expects listing in next 12 months

Balancing tradition and new systems key for old, traditional banks: Experts

These banks need to understand their limitations and balance tradition with new age banking systems, they say

ED fines Standard Chartered Rs 100 cr for FEMA breach, penalises two others

TamilNad Mercantile Bank slapped with Rs 17 cr penalty, its former chief told to cough up Rs 35 cr

Tamilnad Mercantile Bank net profit grows 57.7% to Rs 408 cr in FY20

Gross NPAs of the bank came down 12.6 per cent to Rs 1,020.98 crore, or 3.62 per cent of gross advances, from Rs 1168.11 crore (4.32 per cent) the previous year