Tamilnad Mercantile Bank (TMB) is looking to broadbase its shareholding and get past regulatory restrictions on branch expansion with its initial public offering (IPO), chief executive KV Rama Moorthy said on Tuesday. “We are having a strangulating effect by way of not (being allowed to go for) branch opening in the live organisation. That is one thing which has prompted us to go for this exercise. If that strangulation is not there, it will help us to grow,” Moorthy said. Also read: Global Markets: Shares and bonds stabilise on pause in bad news The regulator revoked three of the restrictions …
