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Tamilnad Mercantile Bank IPO Details

IPO Open Sep 5, 2022
IPO Close Sep 7, 2022
IPO Price ₹510
Face Value ₹10
IPO Size ₹807.84 Cr
Listing At BSE, NSE
Lot Size 28
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Tamilnad Mercantile Bank IPO Date & Price

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

Tamilnad Mercantile Bank IPO timetable / schedule is as below:
  • Bid/Offer Opens On: Sep 5, 2022
  • Bid/Offer Closes On: Sep 7, 2022
  • Finalization of Basis of Allotment: Sep 12, 2022
  • Initiation of refunds: Sep 13, 2022
  • Credit of Equity Shares: Sep 14, 2022
  • Listing Date: Sep 15, 2022

Tamilnad Mercantile Bank IPO price is set at ₹510 per equity share.

Tamilnad Mercantile Bank IPO will close for subscription at 5 PM on Sep 7, 2022. But most brokers stop accepting application between 1 PM to 3 PM.

The Tamilnad Mercantile Bank IPO starts on Sep 5, 2022. The issue ends on Sep 7, 2022.

Tamilnad Mercantile Bank IPO Issue Size and Subscription Status

The Tamilnad Mercantile Bank IPO size is 15840000 Equity Shares of ₹10 aggregating up to ₹807.84 Cr.

Tamilnad Mercantile Bank Limited is selling its shares to the public through an Initial Public Offer (IPO). Retail investors can apply online for Tamilnad Mercantile Bank IPO shares through the banks (using ASBA) or through the broker (using UPI).

Tamilnad Mercantile Bank IPO Offer Size

Qualified Institutional Buyers (QIB)4,752,000 Shares
Non-Institutional Investors (NII)2,376,000 Shares
Retail Individual Investor (RII)1,584,000 Shares
Employee Reservations0 Shares
Other Reservations0 Shares
Total Issue Size8,712,000 Shares

Tamilnad Mercantile Bank IPO IPO Subscription Status

Qualified Institutional Buyers (QIB)1.62 times times
Non-Institutional Investors (NII)2.94 times times
Retail Individual Investor (RII)6.48 times times
Employee Reservations times
Other Reservations times
Total Issue Size2.86 times times

Click here to check the Tamilnad Mercantile Bank IPO live subscription status.

If you have a demat account, most banks offer the online IPO application. You could also contact your broker to apply in Tamilnad Mercantile Bank IPO.

Zerodha, the largest stockbroker in India, offers an online IPO application. You can apply for an IPO online with Zerodha by visiting https://zerodha.com/ipo

You could check Tamilnad Mercantile Bank IPO Grey Market Premium (GMP Rate) by visiting our IPO Grey Market Price (Message Board). Note that there is no official source of GMP Rate as it's a black market.

Tamilnad Mercantile Bank IPO Allotment and Listing

The Tamilnad Mercantile Bank IPO allot status will be available online on Sep 12, 2022. Check the Tamilnad Mercantile Bank IPO Allotment Status here.

Click here to check Tamilnad Mercantile Bank IPO Allotment Status.

Tamilnad Mercantile Bank IPO listing Date is Sep 15, 2022. The regular trading starts at 10 AM on listing day.BSE and NSE allow a pre-open trading on listing day. This 45 minutes session starts at 9 AM and ends at 9:45 AM. This session allows buyers and sellers to place/ modify /cancel orders. The next 15 minutes are for price discovery and processing orders placed in the pre-open trading session. The Tamilnad Mercantile Bank IPO listing date and time is published by the exchange in a circular.

Click here to view the Tamilnad Mercantile Bank IPO Basis of Allotment.

It is hard to say at what price Tamilnad Mercantile Bank IPO Shares will list. The price varies by the demand and supply of IPO shares on the day of listing.

The Tamilnad Mercantile Bank IPO shares will list on Sep 15, 2022 at BSE, NSE.

Tamilnad Mercantile Bank IPO - Should I apply?

Visit our IPO Analysis and Recommendations page to view IPO Notes from experts.

Sorry, we do not provide IPO recommendations. But we share a lot of information about Tamilnad Mercantile Bank IPO which could help you with questions like Tamilnad Mercantile Bank IPO buy or not? You should also read Tamilnad Mercantile Bank IPO Analysis from experts and check the daily subscription status.

It actually depends on many factors. This includes company financials, segment outlook, market situation, issue pricing, the background of promoters, lead managers performance, company strengths, risks and oversubscription. You should read the prospectus document, IPO Analysis from experts and follow the subscriptions.

Tamilnad Mercantile Bank IPO listing day gains are highly unpredictable as depends on many factors on the day listing. It depends on factors like the demand (IPO oversubscription), the market situation on the day of listing, Issue size etc.

Visit our IPO Performance Tracker to check the Tamilnad Mercantile Bank IPO performance. The performance reports are available 1 day after listing.