Incorporated in 1921, Tamilnad Mercantile Bank (TMB) is one of the oldest private sector banks in India. It offers an array of banking and financial services to retail customers, micro, small, and medium enterprises (MSMEs), and more. TMB has a strong portfolio of advances and deposits from a diversified customer base including retail customers, agricultural customers, and MSMEs. Tamilnad Mercantile Bank IPO is about to open on 5th September 2022. The IPO size is about Rs. 831 cr and the listing of Tamilnad Mercantile Bank IPO will be done on 15th September 2022.
As of March 31, 2022, the bank has a strong branch network of 509 branches and a total customer base of 5.08 million. TMB has a significant market presence in the state of Tamil Nadu with 369 branches, and is also present in 15 other states and 4 union territories of India.
Tamilnad Mercantile Bank IPO Review :
Tamilnad Mercantile Bank IPO Date & Price Band :
|IPO Open:||Sep 5, 2022|
|IPO Close:||Sep 7, 2022|
|IPO Size:||28 Shares|
|Price Band:||₹500 to ₹525 per share|
|Listing on:||BSE & NSE|
|Retail Portion:||Not more than 10% of the Net Offer|
|Face Value:||₹10 per share|
Tamilnad Mercantile Bank IPO Market Lot:
- Shares: – 28 shares
- Minimum Amount: – ₹14,700
- Maximum Amount: – ₹191,100
Tamilnad Mercantile Bank IPO Allotment & Listing:
- Basis of Allotment: Sep 12, 2022
- Refunds: Sep 13, 2022
- Credit to Demat accounts: Sep 14, 2022 Advertisement
- Listing: Sep 15, 2022
Tamilnad Mercantile Bank IPO Form Download:
You can apply in Tamilnad Mercantile Bank IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Check out the Tamilnad Mercantile Bank forms – Click BSE Forms & NSE Forms blank IPO forms download, fill, and submit in your bank or with your broker.
Tamilnad Mercantile Bank Financial:
|Period Ended||Total Assets||Total Revenue||Profit After Tax|
- City Union Bank Limited
- CSB Bank Limited
- DCB Bank Limited
- Federal Bank Limited
- Karur Vysya Bank Limited
- Karnataka Bank Limited
- RBL Bank Limited
|TMB is a professionally managed bank and does not have identifiable promoters.|
Objectives of the IPO
- Funding capital expenditure requirements for developing an R&D facility and expansion / setting up of manufacturing facilities.
- Funding long-term working capital requirements.
- General corporate purposes.
Tamilnad Mercantile Bank IPO Registrar
Link Intime India Private Ltd
Tamilnad Mercantile Bank IPO Lead Managers:
- Axis Capital Limited
- Motilal Oswal Investment Advisors Pvt Ltd
- SBI Capital Markets Limited
Tamilnad Mercantile Bank Limited
No. 57, Victoria Extension Road
Thoothukudi – 628 002,
What is Tamilnad Mercantile Bank IPO Open Date for QIB, NII, and Retail?
Tamilnad Mercantile Bank IPO will open on September 5, 2022
Tamilnad Mercantile Bank Limited IPO Size?
Tamilnad Mercantile Bank IPO size is Approx ₹831.60 Crores
Tamilnad Mercantile Bank Limited IPO Price Band?
Tamilnad Mercantile Bank IPO Price Band is ₹500 to ₹525 per share
Tamilnad Mercantile Bank IPO Minimum Lot Size?
The minimum bid is 28 Shares with a ₹14,700 shares
What is Tamilnad Mercantile Bank IPO Allotment Date?
Tamilnad Mercantile Bank IPO allotment date is Sep 12, 2022
What is Tamilnad Mercantile Bank IPO Listing Date?
Tamilnad Mercantile Bank IPO listing date is Sep 15, 2022 The IPO is to list on BSE and NSE.