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The Hindu
The Hindu
National
PTI

Tamilnad Mercantile Bank IPO subscribed 1.53 times on Day 2

Tamilnad Mercantile Bank IPO

The initial public offer of Tamilnad Mercantile Bank (TMB) got subscribed 1.53 times on Tuesday, day two of the subscription.

The ₹831.6-crore public offer received bids for 1,33,68,460 shares, against 87,12,000 shares on offer, according to an update available with the NSE.

The retail Individual Investors (RIIs) category received 3.61 times subscription. The portion for non-institutional investors got subscribed 1.27 times and the Qualified Institutional Buyers (QIBs) quota was subscribed 98%.

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