Tamilnad Mercantile Bank IPO Subscription Status Today {Live}

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Tamilnad Mercantile Bank IPO subscription status will start on Monday, September 5, 2022 and will close on September 7, 2022. Tamilnad Mercantile Bank (TMB) is a private bank and one of the oldest banks in the private sectors banks in India. TMB was incorporated in 1921 and headquartered in Thoothukudi, Tamil Nadu, India. The bank has a long-term track record with over 100 years of working history. The company reported revenues of ₹4,656 crores in 2022 against revenues of ₹4,253 crores in 2021. The company’s financial report looks strong and profit is also look strong. Please check the Tamilnad Mercantile Bank IPO subscription status details over here.

IPOWatch View:

We recommend investors may apply an IPO with long-term view. Investors should also look at the Retail and HNI numbers before investing. You can check the Tamilnad Mercantile Bank IPO allotment status here.

IPO Subscription Update:

  • Day 1: Tamilnad Mercantile Bank IPO subscribed 0.83 times overall in that QIB 0.73 times, NII 0.58 times, and Retail 1.53 times on Day 1.
  • Day 2: Tamilnad Mercantile Bank IPO subscribed 1.53 times overall in that QIB 0.98 times, NII 1.27 times, and Retail 3.61 times on Day 2.
  • Day 3: Tamilnad Mercantile Bank IPO subscribed 2.86 times overall in that QIB 1.62 times, NII 2.94 times, and Retail 6.48 times on Day 3.
Tamilnad Mercantile Bank

    Tamilnad Mercantile Bank IPO Subscription Status (Live Update – Day 3)

    Last Updated – 17:00
    CategoryDay 1Day 2Day 3
    QIB0.730.981.62
    NII0.581.272.94
    RII1.533.616.48
    Total0.831.532.86

    Tamilnad Mercantile Bank IPO Investor Categories

    • Qualified Institutional Buyers (QIB): Financial Institutions, Banks, FIIs, and Mutual Funds
    • Non-Institutional Investors(NII): Individual Investors, NRIs, Companies, Trusts, etc
    • Retail Individual Investors (RII): Retail Individual Investors or NRIs
    • Employee (EMP): Eligible Employees
    • Others: Eligible Shareholders

    Tamilnad Mercantile Bank IPO Review (Good or Bad)

    • Apply

    Brokerage Firm IPO Review

    • Ajcon Global: Apply
    • Capital Market: Neutral
    • Axis Bank: Not Rated
    • KR Choksey: Neutral
    • Canara Bank: May Apply
    • ICICI Direct: May Apply
    • Jainam Broking: May Apply
    • Nirmal Bang: May Apply
    • Religare Broking: May Apply

    Tamilnad Mercantile Bank IPO Date & Price Band Details

     Tamilnad Mercantile Bank IPO Open: September 5, 2022
     Tamilnad Mercantile Bank IPO Close: September 7, 2022
     Tamilnad Mercantile Bank IPO Size: Approx ₹831.60 Crores
     Fresh Issue: Approx 831.60 Crores
     Offer for Sale: Approx [.] Equity Shares
     Face Value: ₹10 Per Equity Share
     Tamilnad Mercantile Bank IPO Price Band: ₹500 to ₹525 Per Share
     Tamilnad Mercantile Bank IPO Listing on: BSE & NSE
     Retail Quota: 10%
     QIB Quota: 75%
     NII Quota: 15%
     Discount: N/A
     DRHP Draft Prospectus: Click Here
     RHP Draft Prospectus: Click Here
     Anchor Investors List: Click Here

    Tamilnad Mercantile Bank IPO Market Lot

    The Tamilnad Mercantile Bank IPO minimum market lot is 28 shares with ₹14,700 application amount. The retail investors can apply up-to 13 lots with 364 shares or ₹191,100 amount.

     Minimum Lot Size: Minimum 28 Shares for 1 lot
     Minimum Amount: ₹14,700 for 1 lot
     Maximum Lot Size: Maximum 364 Shares for 13 lot
     Maximum Amount: ₹191,100 for 13 lot

    Tamilnad Mercantile Bank IPO Subscription Dates

    The Tamilnad Mercantile Bank IPO date is September 5 and the close date is September 7. The Tamilnad Mercantile Bank IPO allotment will be finalized on September 23 and the IPO listing on September 26.

     Price Band Announcement: September 1, 2022
     Anchor Investors Allotment: September 2, 2022
     Tamilnad Mercantile Bank IPO Open Date: September 5, 2022
     Tamilnad Mercantile Bank IPO Close Date: September 7, 2022
     Basis of Allotment: September 12, 2022
     Refunds: September 13, 2022
     Credit to Demat Account: September 14, 2022
     Tamilnad Mercantile Bank IPO Listing Date: September 15, 2022

    Tamilnad Mercantile Bank IPO Form

    How to apply for the Tamilnad Mercantile Bank IPO? You can apply for Tamilnad Mercantile Bank IPO via ASBA available in your bank account. Just go to the online bank login and apply via your bank account by selecting the Tamilnad Mercantile Bank IPO in the Invest section. The other option is you can apply for Tamilnad Mercantile Bank IPO via IPO forms downloaded via NSE and BSE. Check out the Tamilnad Mercantile Bank forms – Click BSE Forms & NSE Forms blank IPO forms download, fill, and submit in your bank or with your broker.

    Tamilnad Mercantile Bank IPO Subscription Status FAQs:


    When Tamilnad Mercantile Bank IPO Subscription will start?

    The IPO subscription starts on September 5, 2022 for NII, and Retail Investors.

    How to subscribe Tamilnad Mercantile Bank IPO?

    You can go with ASBA and Non-ASBA options for a subscription. Go to your bank account and apply for IPO online via ASBA or download the form online or get the physical form and submit the filled form to your broker or bank.

    How do I check live Tamilnad Mercantile Bank IPO Subscription Numbers Today?

    One can visit our portal for live IPO subscription numbers that we are updating hourly basis from the official websites. One can check the live subscription on official websites on the particular IPO page.

    How to Apply the Tamilnad Mercantile Bank IPO through Zerodha?

    Log in to Console in Zerodha Website or in Application. Go to Portfolio and Click on IPO. You will see the IPO Name “Tamilnad Mercantile Bank”. Click on Bid Button. Enter your UPI ID, Quantity and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Zerodha.

    How to Apply the Tamilnad Mercantile Bank IPO through Upstox?

    Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Tamilnad Mercantile Bank”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox.

    How to Apply the Tamilnad Mercantile Bank IPO through Paytm Money?

    Log in to Paytm Money Application with your credentials. Select the IPO. You will see the IPO Name “Tamilnad Mercantile Bank”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Paytm Money.

    What is the Tamilnad Mercantile Bank IPO Allotment Date?

    Tamilnad Mercantile Bank IPO allotment date is September 12, 2022.

    What is the Tamilnad Mercantile Bank IPO Listing Date?

    Tamilnad Mercantile Bank IPO listing date is September 15, 2022. The IPO is to list on BSE and NSE.


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