Shringar House of Mangalsutra IPO, worth Rs 400.95 crore, saw strong demand, subscribing over 60 times. Allotment will be announced on September 15, with listing on September 17. The grey market premium of Rs 31 suggests potential 18–19% gains, though the actual listing price may vary.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.