Tamilnad Mercantile Bank Shares Debut Nearly 3% Lower On NSE

The company's shares listed at par with the issue price at Rs 510 on the BSE. Later, it hit a high of Rs 519 and a low of Rs 487.

Shares of Tamilnad Mercantile Bank on Thursday made a muted market debut and fell by nearly 3 per cent at the NSE against its issue price of Rs 510.

At the NSE, the stock made its debut at Rs 495, lower by 2.94 per cent from the issue price.

The company's shares listed at par with the issue price at Rs 510 on the BSE. Later, it hit a high of Rs 519 and a low of Rs 487.

The initial public offer of Tamilnad Mercantile Bank got subscribed 2.86 times on the last day of subscription on Wednesday last week.