Tamilnad Mercantile Bank IPO description – The company is one of the oldest and leading old private sector banks in India with a history of almost 100 years. It offers a wide range of banking and financial services primarily to micro, small and medium enterprises (“MSME”), agricultural and retail customers (“RAM”).
As of June 30, 2021, It has 509 branches, of which 106 branches are in rural, 247 in semi-urban, 80 in urban and 76 in metropolitan centers. Its overall customer base is approximately 4.93 million as of June 30, 2021 and 3.45 million or 69.96% of its customers have been associated with it for a period of more than five years and have contributed to INR275,619 million or 67.02% to its deposits and INR179,638.99 million or 57.56% to its advances portfolios as of June.
As per the CRISIL Report, it had the second highest Net Profit for Fiscal 2021 amongst its Peers, and its Return on Assets was also higher at 1.3% compared to a median 0.7% for its Peers for Fiscal 2021.
Promoters of Tamilnad Mercantile Bank– The bank is a professionally managed bank and does not have an identifiable promoter
Tamilnad Mercantile Bank IPO Details
| Subscription Dates | 5 – 7 September 2022 |
| Price Band | INR500 – 525 per share |
| Final Allotment Price | INR510 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 Financial Performance
| FY2019 | FY2020 | FY2021 | FY2022 | |
| Revenue | 3,224.5 | 3,466.1 | 3,609.1 | 3,833.9 |
| Expenses | 3,380.2 | 3,584.8 | 3,650.1 | 3,834.5 |
| Net income | 294.6 | 464.9 | 654.0 | 901.9 |
| Margin (%) | 9.14 | 13.4 | 18.1 | 23.5 |
Tamilnad Mercantile Bank IPO News
Tamilnad Mercantile Bank Valuations & Margins
| FY2019 | FY2020 | FY2021 | FY2022 | |
| EPS | 18.14 | 28.61 | 42.34 | 57.67 |
| PE ratio | – | – | – | 8.67 – 9.10 |
| RONW (%) | 7.15 | 10.24 | 13.17 | 15.40 |
| ROE (%) | 7.36 | 10.73 | 14.10 | 10.73 |
| EBITDA (%) | ||||
| Net NPA (%) | 2.40 | 1.80 | 1.98 | 1.80 |
| NAV | 253.89 | 279.25 | 321.38 | 374.41 |
Tamilnad Mercantile Bank IPO GMP Daily Trend
| Date | Consolidated Grey Premium | Kostak | Subject to Sauda |
| 14 Sep 2022 | 15 | – | – |
| 13 Sep 2022 | 15 | 300 | 2,200 |
| 12 Sep 2022 | 15 | 300 | 2,200 |
| 9 Sep 2022 | 15 | 300 | 2,200 |
| 8 Sep 2022 | 10 | 250 | 2,000 |
| 7 Sep 2022 | 15 | 300 | 2,400 |
| 6 Sep 2022 | 20 | 400 | 2,700 |
| 5 Sep 2022 | 25 | 500 | 3,000 |
| 2 Sep 2022 | 25 | 500 | 4,000 |
| 1 Sep 2022 | 10 | – | – |
| 30 Aug 2022 | 20 | – | – |
Tamilnad Mercantile Bank IPO Subscription – Live Updates
| Category | Shares Offered | Day 1 | Day 2 | Day 3 |
| QIB | 47,52,000 | 0.73 | 0.98 | 1.62 |
| NII | 23,76,000 | 0.58 | 1.27 | 2.94 |
| Retail | 15,84,000 | 1.53 | 3.61 | 6.47 |
| Total | 87,12,000 | 0.83 | 1.53 | 2.86 |
Tamilnad Mercantile Bank IPO Reviews – Subscribe or Avoid?
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Tamilnad Mercantile Bank Offer Registrar
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +91 22 4918 6200
Email: [email protected]
Website: www.linkintime.co.in
Tamilnad Mercantile Bank Contact Details
Tamilnad Mercantile Bank Limited
No. 57, Victoria Extension Road,
Thoothukudi – 628 002,
Tamil Nadu, India;
Phone: +91 461 2325136
Email: [email protected]
Website: www.tmb.in
Tamilnad Mercantile Bank IPO Allotment Status
Tamilnad Mercantile Bank IPO allotment is now available on Link Intime’s website. Click on this link to get allotment status.
Tamilnad Mercantile Bank IPO Timetable
| IPO Opening Date | 5 September 2022 |
| IPO Closing Date | 7 September 2022 |
| Finalisation of Basis of Allotment | 12 September 2022 |
| Initiation of refunds | 13 September 2022 |
| Transfer of shares to demat accounts | 14 September 2022 |
| Listing Date | 15 September 2022 |
| Opening Price on BSE | INR510 per share (no change from IPO price) |
| Closing Price on BSE | INR509.65 per share (down slightly from IPO price) |
Tamilnad Mercantile Bank IPO FAQs
How many shares in Tamilnad Mercantile Bank IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%.
How to apply in Tamilnad Mercantile Bank Public Offer?
The best way to apply in Tamilnad Mercantile Bank IPO is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Tamilnad Mercantile Bank IPO GMP today?
Tamilnad Mercantile Bank IPO GMP today is INR15 per share.
What is Tamilnad Mercantile Bank IPO kostak rate today?
Tamilnad Mercantile Bank IPO kostak rate today is NA per application.
What is Tamilnad Mercantile Bank Subject to Sauda rate today?
Tamilnad Mercantile Bank Subject to Sauda rate today is NA per application.
