Tamilnad Mercantile Bank IPO: SAT Dismisses Challenge To Withdrawal Of OFS

The Securities Appellate Tribunal dismissed the challenge to Tamilnad Mercantile Bank Ltd.'s initial public offer on Friday.

Six shareholders of the bank—Robert and Ardis James Co., East River Holdings, Swiss Re Investors (Mauritius), Kamehameha Mauritius, Cuna Group (Mauritius), and FI Investments—had approached the SAT with a plea to injunct the IPO.

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