Tamilnad Mercantile Bank
Tamilnad Mercantile Bank Limited
Tamilnad Mercantile Bank (TMB) was established in Tuticorin, Tamilnadu in the year 1921 and was initially set up to serve the business needs of the Nadar community. Expansion outside the state only began in the 70s and its client base remains concentrated in southern India. Traditionally a business focused lender, the bank is now working to expand its retail exposure.
The bank has grown consistently over time, with healthy profits and relatively low NPAs. While it was initially set to go IPO in 2017, the bank has deferred this decision for the time being. As a viable business with strong potential for growth, TMB makes for a suitable long term investment.
Private Assets are a different breed of investments, here's what you need to know
How do I invest in Private Assets?
You can invest in the stocks fit for your portfolio and risk appetite by directly purchasing them from Minance.
Where are my stocks held?
Your stocks are held in your CDSL or NSDL demat accounts. If you don't have one, we will help you open it.
Will you help me choose the right stock for my portfolio?
Yes, our investment managers will be happy to help you choose the right stocks and purchase them.
What is the minimum amount I need to invest?
The minimum amount need to invest in a single firm is ₹50,000. To invest in a diversified portfolio, the minimum investment needed is ₹1,00,000
How do I track the performance of my investments?
While prices of unlisted stocks do not change frequently, your dashboard shows the latest going price.
Will you help me sell my unlisted stocks?
Yes, Minance will help you find a buyer however, we do not guarantee the same. Note that you are also free to sell these shares on your own.
Does Minance charge me a fee for selling these shares?
No, we make our money by purchasing shares early on and selling them when the valuations rise.
How and when are unlisted stocks taxed?
Unlisted stocks are taxed as short or long term capital gains and enjoy indexation benefit. To know more, please click here.