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Tamilnad Mercantile Bank Limited IPO (Tamilnad Mercantile Bank IPO) Detail

Sep 5, 2022 - Sep 7, 2022

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.

Strengths

  • Long-term track record with almost 100 years of history.
  • Strong presence in Tamil Nadu and consistent focus to expand presence in strategic regions.
  • Diversified and loyal customer base i.e., retail, MSMEs, and agricultural.
  • Consistently growing customer deposit base with a focus on low-cost retail CASA.
  • Proven financial performance track record.

Company Financials

Tamilnad Mercantile Bank Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and Surplus
31-Mar-2042758.83992.53464.893979.653837.14
31-Mar-2147527.174253.4654.044579.984437.47
31-Mar-2252858.494656.44901.95335.715193.2
Amount in ₹ Crore

Objects of the Issue

The net proceeds from the issue will be utilized for the following purposes;

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

Tamilnad Mercantile Bank IPO Details

Tamilnad Mercantile Bank IPO Date Sep 5, 2022 to Sep 7, 2022
Tamilnad Mercantile Bank IPO Face Value ₹10 per share
Tamilnad Mercantile Bank IPO Price ₹500 to ₹525 per share
Tamilnad Mercantile Bank IPO Lot Size 28 Shares
Issue Size15,840,000 shares of ₹10
(aggregating up to ₹807.84 Cr)
Fresh Issue15,840,000 shares of ₹10
(aggregating up to ₹807.84 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
QIB Shares OfferedNot less than 75% of the Net Offer
NII (HNI) Shares OfferedNot more than 15% of the Net Offer
Retail Shares OfferedNot more than 10% of the Net Offer
Company Promoters

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

Tamilnad Mercantile Bank IPO Timeline (Tentative Timetable)

Tamilnad Mercantile Bank IPO opens on Sep 5, 2022, and closes on Sep 7, 2022. The Tamilnad Mercantile Bank IPO bid date is from Sep 5, 2022 10.00 A.M. to Sep 7, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

Event Date
Tamilnad Mercantile Bank IPO Opening Date Sep 5, 2022
Tamilnad Mercantile Bank IPO Closing Date Sep 7, 2022
Basis of Allotment Sep 12, 2022
Initiation of Refunds Sep 13, 2022
Credit of Shares to Demat Sep 14, 2022
Tamilnad Mercantile Bank IPO Listing Date Sep 15, 2022

Tamilnad Mercantile Bank IPO Lot Size

The Tamilnad Mercantile Bank IPO lot size is 28 shares. A retail-individual investor can apply for up to 13 lots (364 shares or ₹191,100).

Application Lots Shares Amount
Retail (Min) 1 28 ₹14,700
Retail (Max) 13 364 ₹191,100
S-HNI (Min) 14 392 ₹205,800
B-HNI (Min) 69 1,932 ₹1,014,300

Tamilnad Mercantile Bank IPO Review

On all counts, except the pending legal matter in regard to OFS, this issue is fairly priced and holds good future prospects. Though conservative, the steady growth track record and sound fundamentals of the bank augur well for considering the reasonably priced issue from a medium to long-term perspective. Read detail review...


Tamilnad Mercantile Bank IPO Subscription Status (Bidding Detail)

The Tamilnad Mercantile Bank IPO is subscribed 2.86 times on Sep 7, 2022 7:00:00 PM. The public issue subscribed 6.48 times in the retail category, 1.62 times in the QIB category, and 2.94 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB1.62
NII2.94
    bNII (bids above ₹10L)3.10
    sNII (bids below ₹10L)2.63
Retail6.48
Total2.86

Tamilnad Mercantile Bank IPO Prospectus

Tamilnad Mercantile Bank IPO Rating

1161
4.0
Rating:Rated 4.0 stars
Vote Here ...

Tamilnad Mercantile Bank IPO Listing Date

Listing Date Thursday, September 15, 2022
BSE Script Code 543596
NSE Symbol TMB
Listing In T Group of Securities
ISIN INE668A01016
IPO Price ₹510 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹510.00
₹510.00
₹484.50
₹519.00
₹508.45
NSE
₹510.00
₹495.00
₹481.00
₹515.00
₹509.65

Company Contact Information

Tamilnad Mercantile Bank Limited
No. 57, Victoria Extension Road
Thoothukudi – 628 002,

Phone: +91 461 2325136
Email: secretarial@tmbank.in
Website: http://www.tmb.in/

Tamilnad Mercantile Bank IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: tmb.ipo@linkintime.co.in
Website: https://linkintime.co.in/

Tamilnad Mercantile Bank IPO FAQs

Tamilnad Mercantile Bank IPO is a main-board IPO of 15,840,000 equity shares of the face value of ₹10 aggregating up to ₹807.84 Crores. The issue is priced at ₹500 to ₹525 per share. The minimum order quantity is 28 Shares.

The IPO opens on Sep 5, 2022, and closes on Sep 7, 2022.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in Tamilnad Mercantile Bank IPO using UPI as a payment gateway. Zerodha customers can apply in Tamilnad Mercantile Bank IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Tamilnad Mercantile Bank IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Tamilnad Mercantile Bank IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Tamilnad Mercantile Bank IPO opens on Sep 5, 2022 and closes on Sep 7, 2022.

Tamilnad Mercantile Bank IPO lot size is 28 Shares and the minimum order quantity is .

You can apply in Tamilnad Mercantile Bank IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Tamilnad Mercantile Bank IPO will be done on Sep 12, 2022, and the allotted shares will be credited to your demat account by Sep 14, 2022. Check the Tamilnad Mercantile Bank IPO allotment status.

The Tamilnad Mercantile Bank IPO listing date is on Thursday, September 15, 2022.
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