Tamilnad Mercantile Bank’s IPO will open for subscription on 5th September, at a price band of Rs 500-525 apiece. The public issue will close on 7th September. The IPO is entirely a fresh issue of up to 1.58 crore shares with a face value of Rs 10 each, aggregating to Rs 831.6 crore, according to RHP. The lead managers to the issue include Axis Capital, Motilal Oswal, and SBI Capital Markets. Link Intime India is the registrar to the issue. Upon successful listing, Tamilnad Mercantile Bank will join the likes of City Union Bank, CSB Bank, DCB Bank, Federal Bank, …
