The initial public offering (IPO) of Tamilnad Mercantile Bank (TMB) was fully subscribed on its second day on Tuesday. The offer received bids for 13.3 million shares, against the IPO size of 8.712 million shares, getting subscribed 1.53 times. Retail investors booked their quota 3.61 times, and non-institutional investors booked 1.27 times their reserved portion. The lender has fixed the price band at Rs 500-525 per share. The offer will conclude on Wednesday. Also read: DreamFolks IPO share allotment: Check status via BSE, Link Intime, grey market premium; stock listing on Sep 6 TMB intends to use the net proceeds …
