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)
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|
|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|
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|
- City Union Bank Limited
- CSB Bank Limited
- DCB Bank Limited
- Federal Bank Limited
- Karur Vysya Bank Limited
- Karnataka Bank Limited
- RBL Bank Limited
- TMB is a professionally managed bank and does not have an identifiable promoters.
Tamilnad Mercantile Bank IPO RegistrarLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Tamilnad Mercantile Bank IPO Allotment Status CheckCheck 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 AddressTamilnad Mercantile Bank Limited
No. 57, Victoria Extension Road
Thoothukudi – 628 002,
Phone: +91 461 2325136
Email: [email protected]