Tamilnad Mercantile Bank IPO GMP, Price, Date, Allotment


Last updated on September 15, 2022

Tamilnad Mercantile Bank IPO GMP

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 Dates5 – 7 September 2022
Price BandINR500 – 525 per share
Final Allotment PriceINR510 per share
Fresh issue15,840,000 shares (INR792 – 831.6 crore)
Offer For SaleNil
Total IPO size15,840,000 shares (INR792 – 831.6 crore)
Minimum bid (lot size)28 shares (INR14,700)
Face Value INR10 per share
Retail Allocation10%
Listing OnNSE, BSE

Tamilnad Mercantile Bank Financial Performance

Net income294.6464.9654.0901.9
Margin (%)9.1413.418.123.5
Figures in INR crore unless specified otherwise

Tamilnad Mercantile Bank IPO News

Tamilnad Mercantile Bank Valuations & Margins

PE ratio8.67 – 9.10
RONW (%)7.1510.2413.1715.40
ROE (%)7.3610.7314.1010.73
Net NPA (%)2.401.801.981.80

Tamilnad Mercantile Bank IPO GMP Daily Trend

DateConsolidated Grey PremiumKostakSubject to Sauda
14 Sep 202215
13 Sep 2022153002,200
12 Sep 2022153002,200
9 Sep 2022153002,200
8 Sep 2022102502,000
7 Sep 2022153002,400
6 Sep 2022204002,700
5 Sep 2022255003,000
2 Sep 2022255004,000
1 Sep 202210
30 Aug 202220

Tamilnad Mercantile Bank IPO Subscription – Live Updates

CategoryShares OfferedDay 1Day 2Day 3
Subscription figures in number of times, at 5 PM

Tamilnad Mercantile Bank IPO Reviews – Subscribe or Avoid?

Ajcon Global – Subscribe
Angel One – Neutral
Anand Rathi –
Antique Stock Broking –
Arihant Capital –
Ashika Research – Subscribe
Asit C Mehta – Subscribe
BP Wealth – Subscribe for Long Term
Canara Bank Securities – Subscribe
Choice Broking –
Elite Wealth – Subscribe
Geojit –
GEPL Capital – Avoid
Hem Securities – Long Term Subscribe
ICICIdirect – Subscribe for Long Term
Jainam Broking – Subscribe with caution
KR Choksey – Neutral
Marwadi Financial Services –
Motilal Oswal –
Nirmal Bang – Subscribe
Reliance Securities –
Religare Broking – Subscribe
Samco Securities –
SBI Capital Securities –
Share India Securities – Subscribe for Medium to Long-term
SMC Global – 2/5
Sushil Finance –
Swastika Investmart –
Ventura Securities – Subscribe
Yes Securities – Subscribe

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 Date5 September 2022
IPO Closing Date7 September 2022
Finalisation of Basis of Allotment12 September 2022
Initiation of refunds13 September 2022
Transfer of shares to demat accounts14 September 2022
Listing Date15 September 2022
Opening Price on BSEINR510 per share (no change from IPO price)
Closing Price on BSEINR509.65 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.


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