Here are more details on the stake sale in Tamilnad Mercantile Bank, the bank in which Tamil Nadu's powerful Nadar community had been refusing to give up control. According to the latest information made available by The Economic Times, non-Nadars have picked up 24.93 per cent in TMB. They include six foreign investors and two Indians.
It seems the curtains are finally down on Sivasankaran's stake sale at TMB, which was earlier opposed by Nadar members. Reserve Bank has also reportedly the stake sale.
(source: vccircle)
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