Tamilnad Mercantile Bank IPO : TMB was founded in 1921 as the Nadar Bank at Thoothukudi, Tamil Nadu, India. Changed its name to Tamilnad Mercantile Bank in Nov 1962 to widen its presence beyond Nadar community. It is one of the oldest private sector bank in the country.
List of Topic Covered
Key Features of Tamilnad Mercantile Bank IPO
- Tamilnad Mercantile Bank IPO will open on Sep 5, 2022
- You can apply in this IPO from Sep 5, 2022 to Sep 7, 2022.
- Issue Price band of the company is ₹500 to ₹525 per equity share.
- Tamilnad Mercantile Bank IPO comprises only a fresh issue of equity shares worth ₹831.6 Crores.
- It has a minimum 28 shares in one lot and you have to spend a minimum of ₹14,700 for 1 lot.
- Tamilnad Mercantile Bank is looking to raise ₹831.6 Crores through this IPO.
What is Tamilnad Mercantile Bank Ltd ?
- Tamilnad Mercantile Bank is one of the oldest and growing private sector banks in India.
- They offer banking and financial services to micro, small and medium enterprises (MSME), agricultural and retail customers.
- As of March 31, 2022 the bank has 509 branches across India.
- K. V. Rama Moorthy is the MD and CEO of Tamilnad Mercantile Bank Ltd.
- On the revenue front, the company has been in profits for 3 consecutive years. Strong positive sign for investors.
Grey Market Premium of Tamilnad Mercantile Bank IPO GMP
Grey market is an unregulated market to trade ipo shares before listing. Tamilnad Mercantile Bank IPO price band is placed at ₹ 500 to ₹ 525 , but the grey market premium of this share is currently 25 (4.76%) i.e. at ₹550 (₹525 + ₹25). So the share price of Tamilnad Mercantile Bank IPO in the grey market is ₹550.
Click here to Get Details IPO Grey Market Premium (GMP) Live
Tamilnad Mercantile Bank IPO Live Subscription Status
Tamilnad Mercantile Bank IPO subscribed 2.86 times on the final day i.e. on 7th Sep, 2022.
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Tamilnad Mercantile Bank IPO Date, Lot Size, Allotment
Tamilnad Mercantile Bank IPO Details
| IPO Start Date | September 5, 2022 |
| IPO Close Date | September 7, 2022 |
| Fresh Equity Share Issue | Approx. ₹831.60 Crores worth of equity shares |
| Offer for Sale | NA |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹500 – ₹525 Per Equity Share |
| Retail Quota Share | 10% |
| QIB Quota | 75% |
| NII (HNI) Quota | 15% |
| Listing on | NSE & BSE |
| Employee Discount | – |
| DRHP | View |
Tamilnad Mercantile Bank IPO Timetable
| IPO Start Date | September 5, 2022 |
| IPO Close Date | September 7, 2022 |
| Basis of Share Allotment Date | September 12, 2022 |
| Refunds Date | September 13, 2022 |
| Credit of shares to Demat Account Date | September 14, 2022 |
| Tamilnad Mercantile Bank IPO Listing Date | September 15, 2022 |
Tamilnad Mercantile Bank IPO Lot Size
| Minimum Lot Size | 28 shares for 1 lot |
| Minimum Amount | ₹ 14,700 for 1 lot |
| Maximum Lot Size | 364 Shares (13 lot) |
| Maximum Amount | ₹191,100 (for 13 Lot) |
Tamilnad Mercantile Bank Financial Report (2020-2022)
| Year | Revenue | Expense | PAT (Profit / Loss After Tax) |
| 2022 | ₹4,656 | ₹3,835 | ₹902 |
| 2021 | ₹4,253 | ₹3,650 | ₹654 |
| 2020 | ₹3,993 | ₹3,585 | ₹465 |
Tamilnad Mercantile Bank IPO – Basis of Allotment
- Tamilnad Mercantile Bank IPO’s 75% quota is reserved for the QIB category.
- 15% quota is reserved for NII Category and
- 10% quota is reserved for retail investors.
How to Apply in Tamilnad Mercantile Bank IPO ?
- You can apply for the Tamilnad Mercantile Banks IPO through the ASBA facility available in your bank account.
- Just login to your online banking. Go to the IPO section and apply for Tamilnad Mercantile Bank IPO.
- Also you can apply in this IPO through your trading account.
- One more way to apply in this IPO is through forms which you can download from NSE and BSE website.
- After downloading forms, fill it properly and submit it to the respective banks or to your broker.
How to apply for the Tamilnad Mercantile Bank IPO through Zerodha?
- Login to your console in Zerodha through desktop or app.
- Then go to your portfolio and click on IPO.
- You will see Tamilnad Mercantile Bank IPO
- Then click on the bid button.
- After this enter your UPI ID, price and quantity (lot size)
- Click the submit button.
- At last you have to go to your UPI app to approve the mandate.
How to apply for the Tamilnad Mercantile Bank IPO through Upstox?
- Login to your Upstox account through desktop or app.
- You will see the name Tamilnad Mercantile Bank IPO
- Then hit the bid button.
- Click the submit button.
- At last you have to go to your UPI app to approve the mandate.
Tamilnad Mercantile Bank IPO Allotment Status
You can check Tamilnad Mercantile Bank IPO allotment status on Registrar and Transfer Agent Website
Also you can check the allotment status on NSE Website
Other Information in Tamilnad Mercantile Bank IPO
Tamilnad Mercantile Bank IPO Promoters
TMB is the professionally managed bank and does not have any promoter.
Tamilnad Mercantile Bank IPO Lead Managers
- Axis Capital Limited
- Motilal Oswal Investment Advisors Pvt Ltd
- SBI Capital Markets Limited
Tamilnad Mercantile Bank 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 Contact Information
Link Intime India Private Ltd
- Phone: +91-22-4918 6270
- Email: tmb.ipo@linkintime.co.in
- Website: https://linkintime.co.in/
Paisa kaudi recommendation on DreamFolks IPO
Tamilnad Mercantile Bank Ltd is one of the oldest, fast growing and profitable banks in India. Price band is reasonable. Can be considered for long term gain. You can also invest in this IPO for the 5% – 10% listing gain.
Keep checking the GMP for more clear picture. Stay alert as markets are volatile now a days.
Tamilnad Mercantile Bank IPO FAQs
TMB IPO is the main-board IPO which will be listed on NSE & BSE. They are going to raise Approx ₹831.60 Crores through this IPO. One lot has minimum 28 shares and you have to spend a minimum ₹14,700 for 1 lot.
TMB IPO price band is ₹500 to ₹525.
One lot has minimum 28 shares and you have to spend a minimum ₹14,700 for 1 lot. Maximum lot is 13 and you have to spent ₹191,100 for 13 lots.
Tamilnad Mercantile Bank IPO’s 10% quota is reserved for retail investors. 15% quota is reserved for NII Category and 75% quota is reserved for the QIB category.
Tamilnad Mercantile Bank IPO will open on September 5, 2022.
Basis of Allotment for TMB IPO will happen on September 12, 2022 and allotted shares will be deposited in your demat account on September 14, 2022.
Shares of Tamilnad Mercantile Bank IPO will list in the market on September 15, 2022.
This covers all the points on DreamFolks IPO. Please write in the comment box if you need any further information on this.