Tamilnad Mercantile Bank Limited
- IPO Date05 Sep, 2022 to 07 Sep, 2022
- Listing Date15 Sep, 2022
- Face Value₹10 per share
- Issue Price₹500 to ₹525 per share
- Lot Size28 Shares
- Minimum Investment₹14,700
- Listing AtBSE, NSE
- Total Issue Size1,58,40,000 Shares
(aggregating up to ₹831.60 Cr) - Fresh Issue1,58,40,000 Shares
(aggregating up to ₹831.60 Cr)
- Offer for Sale-
- Issue TypeBook Built Issue IPO
- Share holding pre issue-
- Shareholding post issue-
IPO Dates
Closing Date
07 Sep, 2022
Initiation of Refunds
14 Sep, 2022
Listing Date
15 Sep, 2022
05 Sep, 2022
Opening Date
12 Sep, 2022
Basis of Allotment
14 Sep, 2022
Credit of Shares
Tamilnad Mercantile Bank Limited Lot Size
Investors can bid for a minimum of 28 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 28 | ₹14,700 |
| Retail (Max) | 13 | 364 | ₹1,91,100 |
| S-HNI (Min) | 14 | 392 | ₹2,05,800 |
| S-HNI (Max) | 68 | 1904 | ₹9,99,600 |
| B-HNI (Min) | 69 | 1932 | ₹10,14,302 |
Tamilnad Mercantile Bank Limited COMPANY INFORMATION
Tamilnad Mercantile Bank IPO is a book built issue of Rs 807.84 crores. The issue is entirely a fresh issue of 1.58 crore shares. Tamilnad Mercantile Bank IPO bidding started from September 5, 2022 and ended on September 7, 2022. The allotment for Tamilnad Mercantile Bank IPO was finalized on Monday, September 12, 2022. The shares got listed on BSE, NSE on September 15, 2022. Tamilnad Mercantile Bank IPO price band is set at ₹500 to ₹525 per share. The minimum lot size for an application is 28 Shares. The minimum amount of investment required by retail investors is ₹14,700. The minimum lot size investment for sNII is 14 lots (392 shares), amounting to ₹205,800, and for bNII, it is 69 lots (1,932 shares), amounting to ₹1,014,300. Axis Capital Limited, Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited are the book running lead managers of the Tamilnad Mercantile Bank IPO, while Link Intime India Private Ltd is the registrar for the issue. Refer to Tamilnad Mercantile Bank IPO RHP for detailed information.
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.
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.
Strengths
- Long-term track record with almost 100 years of history.
- Strong presence in Tamil Nadu and consistent focus to expand presence in strategic regions.
- Diversified and loyal customer base i.e., retail, MSMEs, and agricultural.
- Consistently growing customer deposit base with a focus on low-cost retail CASA.
- Proven financial performance track record.
FAQs About Tamilnad Mercantile Bank Limited
Tamilnad Mercantile Bank Limited will open on 05 Sep, 2022 and close on 07 Sep, 2022. Investors must apply within this period to participate.
The Tamilnad Mercantile Bank Limited price band is set between ₹500.00 and ₹525.00 per share. The minimum lot size is 28, requiring an investment of at least ₹14700.00.
The Tamilnad Mercantile Bank Limited shares are expected to be listed on 15 Sep, 2022, subject to regulatory approvals and final allotment.
You can track your Tamilnad Mercantile Bank Limited application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Tamilnad Mercantile Bank Limited will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.