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IPO Status: Listed [5th Sep 2022 to 7th Sep 2022]
Tamilnad Mercantile Bank IPO comprising a fresh issue of Rs. 831.60 Cr opens for subscription on 5 Sep and closes on Sept 07, 2022. The IPO price band is fixed at Rs. 500-525 and one can apply for the IPO lot of 28 shares and its multiples. The face value of shares is Rs 10 per share. Stay updated with us to know more about the Tamilnad Mercantile Bank IPO Details including issue size, minimum order amount, business overview, company financials, live subscription, GMP, allotment status, and more.
| IPO Issue Opening Date: | 5th Sep 2022 |
| IPO Issue Closing Date: | 7th Sep 2022 |
| IPO Issue Price: | ₹500-525 Per Share |
| DRHP: | Download DRHP |
| RHP: | Download RHP |
| Anchor List: | Download Anchor List |
| IPO Listing At: | BSE, NSE |
| Retail Quota: | 10 |
| IPO Issue Type: | Book Build Issue |
| IPO Issue Size: | ₹831.60 Cr. |
| Fresh Issue: | 15,840,000 shares at ₹500-525/share [Aggregating to ₹831.60 Cr.] |
| Face Value: | ₹10 Per Equity Share |
| Promoter Holding Pre IPO: | |
| Promoter Holding Post IPO: | |
| Allotment Status: | Allotment Status |
| BSE Code: | 543596 |
| NSE Code: | TMB |
Get important updates regarding Tamilnad Mercantile Bank IPO tentative timeline covering IPO opening, closing, allotment, and listing dates. Dates are updated as they are announced.
| IPO Activity | Date |
|---|---|
| Basis of Allotment Date* | 12th Sep 2022 |
| Refunds Initiation* | 13th Sep 2022 |
| Credit of Shares to Demat* | 14th Sep 2022 |
| IPO Listing Date* | 15th Sep 2022 |
* - Tentative Dates
| IPO Activity | Date |
|---|---|
| Issue Price | ₹500-525 |
| Market Lot: | 28 Shares |
| 1 Lot Amount: | ₹14700 |
| Min Small HNI Lots(2-10 Lakh): | 392 shares (14 lots) |
| Min Big HNI Lots(10+ Lakh): | 1932 shares (69 lots) |
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Expected Listing Gain | Last Updated |
|---|---|---|---|---|---|
| 15-09-2022 | 525 | 14 | 2000/7000 | ₹539 (2.67%) | 15-Sep-2022 9:54 |
Zerodha Trade@20
**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.
Tamilnad Mercantile Bank (TMB) is one of the leading old private sector banks in India with a history of 100 years. TMB provides a wide range of banking products and financial services to a diversified customer base including micro, small, and medium enterprises (MSMEs), and agricultural and retail customers (RAM).
Its portfolio of advances primarily comprised loans to retail clients, agricultural customers, and MSMEs while deposits include term deposits, savings bank deposits, recurring deposits, and current bank account deposits.
As of 31 Mar 2022, TMB has a total customer base of 5.08 million that contributes nearly 80% to the bank's total deposits and accounted for 65% of its portfolio of advances. As of 31 Mar 2022, the bank has a total of 509 branches all over the country with a strong presence in the state of Tamil Nadu with 369 branches,949 automated teller machines, and 255 cash recycler machines as of 31 March 2022. It also has a sizeable presence in other strategic locations like Maharashtra, Gujarat, Karnataka, and Andhra Pradesh.
| Incorporation | Sector | IPO Issue Size | Website |
| 1921 | Banking | ₹831.60 Cr. | http://www.tmb.in/ |
TMB aims to raise funds from the IPO for the following objectives;
The table below is live update of IPO bidding details from NSE and BSE.
| Day | QIB | NII | RII | Total | |
|---|---|---|---|---|---|
| # of Shares Offered | 4,752,000 (54.55%) | 2,376,000 (27.27%) | 1,584,000 (18.18%) | 8,712,000 | |
| 1 | 5th Sep 2022 17:02 | 0.73x | 0.58x | 1.53x | 0.83x |
| 2 | 6th Sep 2022 17:02 | 0.98x | 1.27x | 3.61x | 1.53x |
| 3 | 7th Sep 2022 19:02 | 1.62x | 2.94x | 6.48x | 2.86x |
| Tamilnad Mercantile Bank IPO Financials (₹ in Cr) | 31-Mar-2022 | 31-Mar-2021 | 31-Mar-2020 |
|---|---|---|---|
| Total Assets | ₹52,858.49 | ₹47,527.17 | ₹42,758.80 |
| Total Income | ₹4,656.44 | ₹4,253.40 | ₹3,992.53 |
| Net Profit/Loss | ₹901.90 | ₹654.04 | ₹464.89 |
Last Updated on 07-Nov-2022 08:31:09
Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase Tamilnad Mercantile Bank IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed article Step by Step Guide to apply Tamilnad Mercantile Bank IPO with Zerodha.
Alternate approch to apply in Tamilnad Mercantile Bank IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.
Tamilnad Mercantile Bank IPO Review and Important Updates
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To subscribe or apply in Tamilnad Mercantile Bank IPO, you can use the following methods:
| Tamilnad Mercantile Bank IPO Applying Mode | Method | Details |
| Online Application | 3-in-1 Trading Account | If your broker is 3-in-1 service provider, you can apply in Tamilnad Mercantile Bank IPO directly with your brokers website. Example HDFC Securities, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment. |
| Online Application | 2-in-1 Trading Account | Brokers like Zerodha, TradeSmart Online provides access to applying in Tamilnad Mercantile Bank IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online. |
| Online Application | ASBA | This is one of the most popular mode of applying in Tamilnad Mercantile Bank IPO. Most of the Syndicate Banks provide access to apply in Tamilnad Mercantile Bank IPO via ASBA process. You must have your net banking access, DP ID information to apply in Tamilnad Mercantile Bank IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account. |
| Offline Application | Physical Form | You can apply in Tamilnad Mercantile Bank IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app. |
Tamilnad Mercantile Bank IPO Review and Important Updates
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Applying in Tamilnad Mercantile Bank IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download Tamilnad Mercantile Bank IPO application online and submit to the nearest bank or to your broker. With new mandate from SEBI, all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.
For more details on how to use UPI payment method to apply Tamilnad Mercantile Bank IPO, please refer article >> Link
Tamilnad Mercantile Bank IPO Review and Important Updates
Steps to download the online application form for Tamilnad Mercantile Bank IPO
Or
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Tamilnad Mercantile Bank IPO is going to be list on 15-09-2022. NSE Code for Tamilnad Mercantile Bank is TMB. BSE Code for Tamilnad Mercantile Bank is 543596.
Other relevant questions:
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Tamilnad Mercantile Bank IPO Allotment Date is 12-09-2022.
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Tamilnad Mercantile Bank IPO share allotment date?Tamilnad Mercantile Bank IPO allotment date?
