Tamilnad Mercantile Bank
Mainboard₹14,700 / 28 Shares
Tamilnad Mercantile Bank IPO Details
The Tamilnad Mercantile Bank IPO price band is set between ₹500-525 per equity share, with a face value of ₹10 per share. The issue is managed by Link Intime India Private Ltd, and the equity shares are proposed to be listed on the Mainboard.
The IPO date for subscription opens on 5 Sep, 2022 and closes on 7 Sep, 2022. Investors can check the allotment status on 12 Sep, 2022, while the listing date is tentatively scheduled for 15 Sep, 2022.
The total issue size is Fresh Issue : 15,840,000 Shares : 831.6 Crores Approx, aggregating up to . Stay tuned for the latest Tamilnad Mercantile Bank IPO review and GMP updates.
Tamilnad Mercantile Bank IPO Review, Rating & Analysis
Tamilnad Mercantile Bank IPO Review
NO REVIEWTamilnad Mercantile Bank IPO Rating
Tamilnad Mercantile Bank IPO Highlights
IPO Date
Sep 5, 2022 - Sep 7, 2022
Listing Date
15 Sep, 2022
Face Value
₹10 Per Equity Share
Price Band
₹500-525 per equity share
Lot Size
-
Fresh Issue
Shares
Offer for Sale
-
Listing At
BSE, NSE
Tamilnad Mercantile Bank IPO Lot Size
The minimum market lot for Tamilnad Mercantile Bank IPO is 28 shares with an application amount of ₹14,700. Retail investors can apply for up to 13 lots. The table below details the minimum and maximum investment limits for Retail and HNI investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 28 | ₹14,700 |
| Retail (Max) | 13 | 364 | ₹1,91,100 |
| S-HNI (Min) | 14 | 392 | ₹2,05,800 |
| S-HNI (Max) | 68 | 1904 | ₹9,99,600 |
| B-HNI (Min) | 69 | 1932 | ₹10,14,300 |
Tamilnad Mercantile Bank IPO Timeline
Issue Price
₹500-525 per equity shareFace Value
₹10 Per Equity ShareListing at Group
BSE, NSERegistrar
Link Intime India Private LtdLead Manager
Axis Capital,Motilal Oswal,SBI CapitalIssue Size
Fresh Issue : 15,840,000 Shares : 831.6 Crores ApproxTamilnad Mercantile Bank IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31 Mar 22 | 52858.49 | 4656.44 | 901.9 | - | - | - |
| 31 Mar 21 | 47527.17 | 4253.4 | 654.04 | - | - | - |
| 31 Mar 20 | 42758.8 | 3992.53 | 464.89 | - | - | - |
All values are in ₹ Cr.
Promoters & Share Holding
Promoter(s) Name
- TMB is a professionally managed bank and does not have an identifiable promoters.
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| N/A% | N/A% |
About Company
Incorporated in 1921, Tamilnad Mercantile Bank (TMB) is one of the oldest private sector banks in India. It offers an array of banking and financial services to retail customers, micro, small, and medium enterprises (MSMEs), and more. TMB has a strong portfolio of advances and deposits from a diversified customer base including retail customers, agricultural customers, and MSMEs.
As of March 31, 2022, the bank has a strong branch network of 509 branches and a total customer base of 5.08 million. TMB has a significant market presence in the state of Tamil Nadu with 369 branches, and is also present in 15 other states and 4 union territories of India.
Tamilnad Mercantile Bank IPO Subscription Details
| As on | QIB | NII bNII sNII | Retail | Total |
|---|---|---|---|---|
| Shares Offered / Reserved | 4,752,000 | 2,376,000 1,584,000 792,000 | 1,584,000 | 8,712,000 |
Day 1 -05-09-22 05:00 PM | 0.73 x | 0.58 0.72 x 0.32 x | 1.53 x | 0.83 x |
Day 2 -06-09-22 05:00 PM | 0.98 x | 1.27 1.35 x 1.09 x | 3.61 x | 1.53 x |
Day 3 -07-09-22 05:00 PM | 1.62 x | 2.94 3.10 x 2.62 x | 6.47 x | 2.86 x |
Frequently Asked Questions about Tamilnad Mercantile Bank IPO
When will Tamilnad Mercantile Bank IPO open for subscription?
The Tamilnad Mercantile Bank IPO opens on 5 Sep, 2022 and closes on 7 Sep, 2022.
What is the investors portion for Tamilnad Mercantile Bank IPO?
The investors' portion for QIB is 1.62 x, NII is 3.10 x, and Retail is 6.47 x.
How to apply for Tamilnad Mercantile Bank IPO?
You can apply for Tamilnad Mercantile Bank IPO via ASBA online through your bank account. You can also apply via UPI through stock brokers like Zerodha, Upstox, or Paytm Money.
What is the issue size of Tamilnad Mercantile Bank IPO?
The issue size of Tamilnad Mercantile Bank IPO is approx ₹Fresh Issue : 15,840,000 Shares : 831.6 Crores Approx crores.
What is the price band of Tamilnad Mercantile Bank IPO?
The price band for Tamilnad Mercantile Bank IPO is ₹500 to ₹525 per equity share.
What is the lot size of Tamilnad Mercantile Bank IPO?
The minimum bid (lot size) for Tamilnad Mercantile Bank IPO is N/A shares with an investment of approx ₹14,700 .
What is the allotment date of Tamilnad Mercantile Bank IPO?
The allotment date for Tamilnad Mercantile Bank IPO is 12 Sep, 2022.
What is the listing date of Tamilnad Mercantile Bank IPO?
The listing date for Tamilnad Mercantile Bank IPO is expected to be 15 Sep, 2022.
What is the GMP of Tamilnad Mercantile Bank IPO?
The latest Grey Market Premium (GMP) for Tamilnad Mercantile Bank IPO is being updated regularly on IPOROCK.
Parth D.
Founder & Lead Analyst
Parth D. is a software engineer and financial analyst who brings a quantitative edge to IPO tracking. With deep expertise in algorithmic trading and financial tool development, he builds the technology that powers IPORock's real-time data engines. He has been tracking the Indian market since 2018.