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

September 5, 2022 - September 7, 2022

Tamilnad Mercantile Bank IPO is a book built issue of Rs 807.84 crores. The issue is entirely a fresh issue of 1.58 crore shares.

Tamilnad Mercantile Bank IPO bidding started from September 5, 2022 and ended on September 7, 2022. The allotment for Tamilnad Mercantile Bank IPO was finalized on Monday, September 12, 2022. The shares got listed on BSE, NSE on September 15, 2022.

Tamilnad Mercantile Bank IPO price band is set at ₹500 to ₹525 per share. The minimum lot size for an application is 28 Shares. The minimum amount of investment required by retail investors is ₹14,700. The minimum lot size investment for sNII is 14 lots (392 shares), amounting to ₹205,800, and for bNII, it is 69 lots (1,932 shares), amounting to ₹1,014,300.

Axis Capital Limited, Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited are the book running lead managers of the Tamilnad Mercantile Bank IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to Tamilnad Mercantile Bank IPO RHP for detailed information.

Tamilnad Mercantile Bank IPO Details

IPO Date September 5, 2022 to September 7, 2022
Listing Date September 15, 2022
Face Value ₹10 per share
Price Band ₹500 to ₹525 per share
Lot Size 28 Shares
Total Issue Size15,840,000 shares
(aggregating up to ₹807.84 Cr)
Fresh Issue15,840,000 shares
(aggregating up to ₹807.84 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

Tamilnad Mercantile Bank IPO Reservation

Tamilnad Mercantile Bank IPO a total of 8,712,000 shares are offered. QIB: 4,752,000 (54.55%), NII: 2,376,000 (27.27%), RII: 1,584,000 (18.18%). Minimum number of shares to be allotted to RIIs : 28 shares. Minimum number of shares to be allotted to NIIs (sNII/bNII) : 392 shares.

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered4,752,000 (54.55%)NA
NII (HNI) Shares Offered2,376,000 (27.27%)
  bNII > ₹10L1,584,000 (18.18%)4,040
  sNII < ₹10L792,000 (9.09%)2,020
Retail Shares Offered1,584,000 (18.18%)56,571
Total Shares Offered8,712,000 (100%)

Tamilnad Mercantile Bank IPO Timeline (Tentative Schedule)

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

IPO Open Date Monday, September 5, 2022
IPO Close Date Wednesday, September 7, 2022
Basis of Allotment Monday, September 12, 2022
Initiation of Refunds Tuesday, September 13, 2022
Credit of Shares to Demat Wednesday, September 14, 2022
Listing Date Thursday, September 15, 2022
Cut-off time for UPI mandate confirmation 5 PM on September 7, 2022

Tamilnad Mercantile Bank IPO Lot Size

Investors can bid for a minimum of 28 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 28 ₹14,700
Retail (Max) 13 364 ₹191,100
S-HNI (Min) 14 392 ₹205,800
S-HNI (Max) 68 1,904 ₹999,600
B-HNI (Min) 69 1,932 ₹1,014,300
Lot Size Calculator

About Tamilnad Mercantile Bank Limited

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

Key Performance Indicator

Tamilnad Mercantile Bank IPO Market Cap is Rs 8313.45 Cr and P/E (x) is 9.22.

KPI Values
P/E (x)9.22
Market Cap (₹ Cr.)8313.45

Objects of the Issue (Tamilnad Mercantile Bank IPO Objectives)

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 Review (Apply)

[Dilip Davda]  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 Details

Listing Date September 15, 2022
BSE Script Code 543596
NSE Symbol TMB
ISIN INE668A01016
Final Issue Price ₹510 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue 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

Check IPO Performance…

Tamilnad Mercantile Bank IPO Contact Details

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/mipo/ipoallotment.html

Tamilnad Mercantile Bank IPO - Buy or Not

Tamilnad Mercantile Bank IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 16 3 1
Members 21 3 12

Read All Reviews Post Your Review Manage Reviews

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 September 5, 2022, and closes on September 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 September 5, 2022 and closes on September 7, 2022.

Tamilnad Mercantile Bank IPO lot size is 28 Shares, and the minimum amount required is ₹14,700.

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, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

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

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

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991 Comments

384. ManishDwiv |   Link |Nov 8, 2022 5:02:10 PM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
Breaking IPO base..ggood quarterly results...hold or buy for 575/600 targets.
383. Gaurav DD dimer |   Link |Oct 27, 2022 4:17:11 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
Closed above IPO price today
382. Nilaykumar |   Link |Sep 15, 2022 12:40:21 PM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Total volume is too less.
Mostly people holding their allotment it seems.
@lokes @monster zero @gj @svh @cold what's your view and thought on this company.
382.5. P Patel |   Link |Oct 11, 2022 12:43:23 PM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
This is the first line.
382.6. P Patel |   Link |Oct 11, 2022 12:45:27 PM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
This is the second line.
Great
381. raviagjpr |   Link |Sep 19, 2022 1:46:32 AM
Sooner or later this will follow Bandhan Bank.
380. vishnu bazar |   Link |Sep 15, 2022 2:48:12 PM
In this ipo the price band is 510-525 .. so why this is shown previous close is 510 even though the ipo is full subscribe.

all allotee got the share at 510 price and why the circuit filter is 5 % only even this is a more than 250 cr ipo???

thank you for your time and consideration....!!!!
380.2. arunARUN |   Link |Sep 16, 2022 8:45:44 AM
IPO Guru IPO Guru (1800+ Posts, 1600+ Likes)
The price to offer is discretion of board of directors. It is in T group as 49.7% shares in demat as opposed to requirement of 50% demat for non T group and above 250 crore size
Any way physical shareholders (old) will go and demat their share now so share will move out of T group
380.3. vishnu bazar |   Link |Sep 16, 2022 9:47:13 AM
thank you @arun and @prince
379. MRavichandran |   Link |Sep 14, 2022 10:10:35 PM
IPO Guru IPO Guru (2000+ Posts, 2600+ Likes)
@hostpacker,
my expectation is that TMB will list around 550 reach 575. hope its your expectation also. All the best to TMB allottees for good profit.

Dear all,
Out of topic, Aether has touched high of 998 today, any idea for this spurt?
On same topic, does any one know about @Jetha Lal, architect of Aether IPO success with so many CG fourm members like me. With out him, many would have not bet hue during that market difficult times. I sincerely hope and pray that he is alright and will come back soon with expert ideas.

Dear @Admin,
Could you please assist by enquiring @Jetha Lal's well being and inform him that he is being missed by many CG forum members. Much appreciated.

Thanks
379.12. Asoke sarkar |   Link |Sep 15, 2022 7:26:59 PM
IPO Mentor IPO Mentor (500+ Posts, 600+ Likes)
@ Ou Ai
Very good
Best of luck in days to come.
* correction : my purchase price 489
Thank you

379.13. MRavichandran |   Link |Sep 15, 2022 7:32:44 PM
IPO Guru IPO Guru (2000+ Posts, 2600+ Likes)
@Ou Ai,
Sir, you missed a point or 2 here.
Firstly, the bid is for 2900 shares at 1020 price - in pre-open (big difference to compare it with day traded shares volume).
Secondly, though @AvinashUppalapati exaggerated about the listing price was higher because of me (when I order in preopen, it was merely very few thousand shares in buying list, 10 times more selling than buying). Though your point still valid 'not even drop in ocean' (however, my bid would have at least increased the listing price even an mere 50 paisa.)

Thanks
378. Crow |   Link |Sep 15, 2022 10:55:47 AM
IPO Mentor IPO Mentor (500+ Posts, 400+ Likes)
TMB IPO is perhaps the first IPO in 10+ years that I skipped due to a vacation and I was regretting it till today's listing. I was in Ladakh and my stupid Vodafone SIM didn't work for 12 days, so couldn't study the RHP.

Anyway, I feel the T-group listing was a boon to TMB as I suspect limited down slide now. May hit UC at 519 once weak hands vanish. Retailers, if applied, should exit with minimal loss or neutral. Keep crowing.
378.1. Nifty Singh |   Link |Sep 15, 2022 6:22:17 PM
@Crow- what is your view regarding Syrma? Not moving significantly either way.
377. PKRAJ |   Link |Sep 15, 2022 4:34:44 PM
IPO Guru IPO Guru (1400+ Posts, 1000+ Likes)
After long time TMB not alloted at higher price of 525 even after not a bad subscription of about 3 times. Many negatives were there and still there. Still investor members in favor of buying this share. A bad day today in view of 400+ falling market and bad listing today. Many investors lost something today.
But still good news on some of the shares touching 52 week high which I am holding :
Solar Industries
Datapattern
Power Mech
Adani Port
And some at higher level :
Eicher Motors
Adani Wilmer
Going down a bit :
Dreamfolk
Syrma.
These are only a few examples. Mix trend.
376. sree vas |   Link |Sep 15, 2022 1:02:31 PM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
will reach 580to 615 levels by next week
375. Asoke sarkar |   Link |Sep 15, 2022 12:31:08 PM
IPO Mentor IPO Mentor (500+ Posts, 600+ Likes)
Hanging petty 'Veranda ' !
374. Abhishek Mani |   Link |Sep 15, 2022 11:48:07 AM
TMB is an excellent buy. It will cross 600 has very low NPA, professionally managed private bank trading at very cheap valuations
373. Thiagarajan Ramasamy |   Link |Sep 15, 2022 11:15:50 AM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
Combine NSE and BSE traded quantity so far is about 17 Lakh shares. Partial exit by HNIs and Retail.
372. Bullish |   Link |Sep 14, 2022 11:15:04 PM
IPO Mentor IPO Mentor (500+ Posts, 400+ Likes)
I think it will list at 510 at discount which are given to anchor due to t group listing
372.1. Bullish |   Link |Sep 15, 2022 10:25:49 AM
IPO Mentor IPO Mentor (500+ Posts, 400+ Likes)
See exactly open at 510 as t group no volume so retailers please keep safe distance from this stock do ko buy
372.2. Team Chittorgarh.com |   Link |Sep 15, 2022 10:56:02 AM
IPO Mentor IPO Mentor (800+ Posts, 1200+ Likes)
Rectified.

Thank you,
Admin @ Chittorgarh.com

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371. Monster Zero |   Link |Sep 15, 2022 10:43:26 AM
IPO Guru IPO Guru (2900+ Posts, 2500+ Likes)
It's not bad listing at all ...most people got chance to exit on BSE...
I took revenge of listing in Skp..sold today @141...
370. Thiagarajan Ramasamy |   Link |Sep 15, 2022 10:25:08 AM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
Any bulk deal in TMB Counter so far in NSE and BSE?
369. PSR |   Link |Sep 15, 2022 10:09:25 AM
IPO Guru IPO Guru (1200+ Posts, 700+ Likes)
"T" group listing has spoiled the show to some extent. Otherwise it could have been in 520 levels.
Even now, it is not a so bad listing.
369.1. sdz |   Link |Sep 15, 2022 10:19:02 AM
IPO Mentor IPO Mentor (800+ Posts, 400+ Likes)
I felt T group listing has benefitted the stock from not going down as now no one can short without shares in their demat. And so no chance of speculation of shorting by taking advantage of weakness. If operators want to speculate, they’ve to go only long and play their game after 2-3days
368. svh |   Link |Sep 15, 2022 9:49:30 AM
IPO Guru IPO Guru (2000+ Posts, 3400+ Likes)
Check above how many brokers recommended to apply and which broker had given avoid call.
🙏👍
368.1. PKRAJ |   Link |Sep 15, 2022 9:59:29 AM
IPO Guru IPO Guru (1400+ Posts, 1000+ Likes)
Forget about brokers, many senior members were positive about listing also and recommended to subscribe.
This is the beauty of Share Market.
368.2. svh |   Link |Sep 15, 2022 10:18:32 AM
IPO Guru IPO Guru (2000+ Posts, 3400+ Likes)
Yes , you are right.
When I have posted with the examples of RBL bank and Bandhan bank , one senier member was argueing with contra view. No doubt RBL and bandhan had given listing gain at that time but TMB's issue price had not left anything on the table and full of controversies since its issue date.
🙏👍
367. Trueinfo |   Link |Sep 15, 2022 9:53:47 AM
IPO Guru IPO Guru (1800+ Posts, 1600+ Likes)
What's the issue price? Some showing 525 and some channels showing 510.
367.3. Trueinfo |   Link |Sep 15, 2022 10:01:07 AM
IPO Guru IPO Guru (1800+ Posts, 1600+ Likes)
Not Applied.
367.4. Learner SK |   Link |Sep 15, 2022 10:12:09 AM
Top Contributor Top Contributor (1000+ Posts, 200+ Likes)
@ Admin - Please change the IPO price to 510. It is showing 525.
366. Jayesh Sawant |   Link |Sep 15, 2022 10:05:56 AM
Not applied.
365. lucky boy |   Link |Sep 15, 2022 9:56:15 AM
IPO Mentor IPO Mentor (1000+ Posts, 300+ Likes)
check my review given avoid call here....