Tamilnad Mercantile Bank IPO: Tamilnad Mercantile Bank's share sale via initial public offering (IPO) opened today and will end on September 7. The south India-based private bank is one of India's oldest private sector lender in the country with presence in Indian markets for over 100 years. Tamilnad Mercantile Bank is planning to raise Rs 832 crore through IPO by selling 1.58 crore shares of face value of Rs 10 each.