Tamilnad Mercantile Bank rises on entering into partnership with Wegofin Digital Solutions
Tamilnad Mercantile Bank is currently trading at Rs. 423.50, up by 0.50 points or 0.12% from its previous closing of Rs. 423.00 on the BSE.
The scrip opened at Rs. 420.65 and has touched a high and low of Rs. 425.20 and Rs. 420.65 respectively. So far 1212 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 509.95 on 09-Dec-2024 and a 52 week low of Rs. 403.35 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs. 430.70 and Rs. 420.05 respectively. The current market cap of the company is Rs. 6691.93 crore.
The Institutions and Non-Institutions held 6.54% and 93.47% stake in the company respectively.
Tamilnad Mercantile Bank (TMB) has entered into strategic partnership with Wegofin Digital Solutions, a leading fintech innovator, to revolutionize digital banking and financial services for businesses across India. This collaboration marks a significant milestone in TMB’s digital transformation journey, introducing Banking-as-a-Payment Aggregator (BAPA) to empower MSMEs, startups, and enterprises with cutting-edge financial solutions.
Wegofin, a next-generation fintech platform offering integrated solutions for banking, payments, accounting, and compliance, will serve as a Technology Service Provider (TSP) for TMB. Through this partnership, TMB will strengthen its role as a trusted banking partner while enabling seamless UPI merchant acquiring, automated payouts, fraud risk management, and compliance-driven financial operations. TMB will leverage Wegofin’s RBI-compliant SaaS platforms to onboard merchants, automate bulk disbursements, and streamline UPI transactions with real-time settlement and reconciliation.
Tamilnad Mercantile Bank is one of the oldest private sector banks in the country. It offers a wide range of banking and financial services primarily to Micro, Small and Medium Enterprises (MSME), agricultural and retail customers.
