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 Rs.831.60 crores via IPO that comprises fresh issue of Rs.831.60 crores and offer for sale up to [.] of Rs.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.
Tamilnad Mercantile Bank IPO Details
| Subscription Dates | 5 – 7 September 2022 |
| Price Band | INR500 – 525 per share |
| Fresh issue | 15,840,000 shares (INR792 – 831.6 crore) |
| Offer For Sale | Nil |
| Total IPO size | 15,840,000 shares (INR792 – 831.6 crore) |
| Minimum bid (lot size) | 28 shares (INR14,700) |
| Face Value | INR10 per share |
| Retail Allocation | 10% |
| Listing On | NSE, BSE |
Tamilnad Mercantile Bank IPO Market Lot
The Tamilnad Mercantile Bank IPO minimum market lot is 28 shares with Rs.14,700 application amount. The retail investors can apply up-to 13 lots with 364 shares or Rs.191,100 amount.
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 12 and the IPO listing on September 15.
| 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 Company Financial Report
| Rs. in Crores | |||||
| Revenue | Expense | PAT | |||
| 2020 | Rs.3,993 | Rs.3,585 | Rs.465 | ||
| 2021 | Rs.4,253 | Rs.3,650 | Rs.654 | ||
| 2022 | Rs.4,656 | Rs.3,835 | Rs.902 | ||
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: tmb.ipo@linkintime.co.in
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: secretarial@tmbank.in
Website: http://www.tmb.in/
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