Tamilnad Mercantile Bank IPO GMP History
Tamilnad Mercantile Bank IPO has been listed on September 15, 2022 at a listing price of ₹495, against the issue price of ₹510 — a loss of ₹15 (-2.94%). The GMP peaked at ₹35 on 5 September 2022 and reached a low of ₹5 on 9 September 2022. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Tamilnad Mercantile Bank IPO raised ₹807.84 Cr. through its IPO at a price band of ₹500 to ₹525 per share, with a lot size of 28 shares. The IPO was open for subscription from 05 Sep 2022 to 07 Sep 2022.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 10 Nov, 11:32 AM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 15 Sep 2022 | ₹ 15 | — | 3% | — | — |
| 14 Sep 2022 | ₹ 15 | — | 3% | — | — |
| 13 Sep 2022 | ₹ 15 | — | 3% | — | — |
| 12 Sep 2022 | ₹ 15 | ▲ | 3% | — | — |
| 09 Sep 2022 | ₹ 5 | — | 1% | — | — |
| 08 Sep 2022 | ₹ 5 | ▼ | 1% | — | — |
| 07 Sep 2022 | ₹ 15 | — | 3% | — | — |
| 06 Sep 2022 | ₹ 15 | ▼ | 3% | — | — |
| 05 Sep 2022 | ₹ 35 | — | 7% | — | — |
| 02 Sep 2022 | ₹ 35 | — | 7% | — | — |
Tamilnad Mercantile Bank IPO dates
Key dates from opening to listing. Today is 11 November.
- Open 05 Sep 2022
- Close 07 Sep 2022
- Allotment 12 Sep 2022
- Refund/credit 13 Sep 2022
- Listing 15 Sep 2022
Tamilnad Mercantile Bank IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹510 |
|---|---|
| GMP-based estimate (pre-listing) | ₹560 (+6.7%) |
| Listing gain / loss | −₹15 per share |
| Listing date | 15 Sep, 2022 |
| Actual listing price | ₹495 (-2.94%) |
Is Tamilnad Mercantile Bank IPO GMP reliable?
Grey market premium for Tamilnad Mercantile Bank IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the Tamilnad Mercantile Bank IPO full review for a fundamentals-based assessment before making any grey market trades.
Tamilnad Mercantile Bank IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for Tamilnad Mercantile Bank IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Tamilnad Mercantile Bank IPO
Tamilnad Mercantile Bank Limited was incorporated in 1921 and is one of the oldest private sector banks in India, with a history of almost 100 years.
It offers banking and financial services mainly to micro, small and medium enterprises, agricultural and retail customers.
On 31 March 2022 it had 509 branches, of which 106 were rural, 247 semi-urban, 80 urban and 76 metropolitan, and a customer base of about 5.08 million. It has 369 branches in Tamil Nadu and is present in 15 other states and 4 union territories. Customers of more than five years made up 79.78% of its customers.
The IPO was Rs 807.84 crore and was entirely fresh issue. The money was meant to strengthen the bank's Tier-I capital. The bank has no identifiable promoter.
Frequently asked
What is the GMP of Tamilnad Mercantile Bank IPO?
The current Grey Market Premium (GMP) of Tamilnad Mercantile Bank IPO is ₹ 35.
What is the Kostak Price of Tamilnad Mercantile Bank IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Tamilnad Mercantile Bank IPO is not available.
What is the Subject to Sauda Price of Tamilnad Mercantile Bank IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of Tamilnad Mercantile Bank IPO?
Tamilnad Mercantile Bank IPO listed on September 15, 2022 at ₹495, against the issue price of ₹510 — a loss of -2.94%.
How did the GMP of Tamilnad Mercantile Bank IPO trend before listing?
The GMP of Tamilnad Mercantile Bank IPO was stable in its final days before listing. The GMP peaked at ₹35 on 5 September 2022. View the day-wise table above for the complete GMP history.
Explore Tamilnad Mercantile Bank IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
