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Tamilnad Mercantile Bank IPO Date, Review, Price, Allotment & Analysis

Table of Contents

Tamilnad Mercantile Bank IPO date is fixed, the IPO is to open on September 5 and will close on September 7. Tamilnad Mercantile Bank (TMB) IPO to raise around ₹831.60 crores via IPO that comprises fresh issue of ₹831.60 crores and offer for sale up to [.] of ₹10 each. The retail quota is 10%, QIB is 75%, and HNI is 15%.

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 bank offerings banking and financial services to its customers are retailers, micro-enterprises, small and medium enterprises, MSMEs, and more. They have a strong network of branches of over 500 and a customer base of over 5 million as of March 2022. They have over 350 branches in Tamil Nadu state and have a presence in 15 states and 4 union territories. You can check Tamilnad Mercantile Bank IPO subscription status and Tamilnad Mercantile Bank IPO allotment status on their respective pages.

Objects of the Issue:

  • To augment tier-I capital base to meet future capital requirements.
  • Meet offer issue expenses.
  • To receive the benefits of listing the shares on the stock exchanges.

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 Allotment & Listing 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 Company Financial Report

  ₹ in Crores

RevenueExpensePAT
2020₹3,993₹3,585₹465
2021₹4,253₹3,650₹654
2022
₹4,656₹3,835₹902

Tamilnad Mercantile Bank IPO Valuation – FY2022

Check Tamilnad Mercantile Bank IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.

 Earning Per Share (EPS): ₹57.67 per Equity Share
 Price/Earning P/E Ratio: N/A
 Return on Net Worth (RoNW): 15.40%
 Net Asset Value (NAV): 374.41 per Equity Share

Peer Group

  • City Union Bank Limited
  • CSB Bank Limited
  • DCB Bank Limited
  • Federal Bank Limited
  • Karur Vysya Bank Limited
  • Karnataka Bank Limited
  • RBL Bank Limited

Company Promoters

  • TMB is a professionally managed bank and does not have an identifiable promoters.

Tamilnad Mercantile Bank IPO Registrar

Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/

Tamilnad Mercantile Bank IPO Allotment Status Check

Check Tamilnad Mercantile Bank IPO allotment status on Linkintime website allotment URL. Click Here

Tamilnad Mercantile Bank IPO Lead Managers

  • Axis Capital Limited
  • Motilal Oswal Investment Advisors Pvt Ltd
  • SBI Capital Markets Limited

Company Address

Tamilnad Mercantile Bank Limited
No. 57, Victoria Extension Road
Thoothukudi – 628 002,
Phone: +91 461 2325136
Email: [email protected]
Website: http://www.tmb.in/

Tamilnad Mercantile Bank IPO FAQs


What is Tamilnad Mercantile Bank IPO?

Tamilnad Mercantile Bank IPO is a main-board IPO. They are going to raise ₹831.60 Crores via IPO. The issue is priced at ₹500 to ₹525 per equity share. The IPO is to be listed on BSE & NSE.

When Tamilnad Mercantile Bank IPO will open?

The IPO is to open on September 5, 2022, for QIB, NII, and Retail Investors.

What is Tamilnad Mercantile Bank IPO Investors Portion?

The investors’ portion for QIB-75%, NII-15%, and Retail 10%.

How to Apply the Tamilnad Mercantile Bank IPO?

You can apply for Tamilnad Mercantile Bank IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.

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 the 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 Tamilnad Mercantile Bank IPO Size?

Tamilnad Mercantile Bank IPO size is ₹831.60 crores.

What is Tamilnad Mercantile Bank IPO Price Band?

Tamilnad Mercantile Bank IPO Price Band is ₹500 to ₹525. 

What is Tamilnad Mercantile Bank IPO Minimum and Maximum Lot Size?

The minimum bid is 28 Shares with ₹14,700 amount while the maximum bid is 364 shares with ₹191,100.

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.

Note: The Tamilnad Mercantile Bank IPO price band and date are officially announced. The IPO grey market premium (Tamilnad Mercantile Bank IPO Premium) will be added to the IPO grey market page as it will start).

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