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.
The net proceeds from the issue will be utilized for the following purposes;
| IPO Opening Date | 5 Sep 2022 |
|---|---|
| IPO Closing Date | 7 Sep 2022 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 Equity Share |
| IPO Price | ₹500 to ₹525 per share |
| Market Lot | 28 Shares |
| Min Order Quantity | 28 Shares |
| Listing At | BSE, NSE |
| Issue Size | 15,840,000 shares of ₹10 (aggregating up to ₹831.60 Cr) |
| Offer for Sale | 15,840,000 shares of ₹10 (aggregating up to ₹831.60 Cr) |
| QIB Shares Offered | Not less than 75% of the Net Offer |
| Retail Shares Offered | Not more than 10% of the Net Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Net Offer |
| Basis of Allotment Date | 12 Sep 2022 |
|---|---|
| Initiation of Refunds | 13 Sep 2022 |
| Credit of Shares to Demat Account | 14 Sep 2022 |
| IPO Listing Date | 15 Sep 2022 |
Tamilnad Mercantile Bank IPO is a main-board IPO of 15,840,000 equity shares of the face value of ₹10 aggregating up to ₹831.60 Crores. The issue is priced at ₹500 to ₹525 per share. The minimum order quantity is 28 Shares.
The IPO opens on Sep 5, 2022, and closes on Sep 7, 2022.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Tamilnad Mercantile Bank IPO opens on Sep 5, 2022 and closes on Sep 7, 2022.
Tamilnad Mercantile Bank IPO lot size is 28 Shares and the minimum order quantity is 28 Shares.
You can apply in Tamilnad Mercantile Bank IPO online using either UPI or ASBA as 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.
The finalization of Basis of Allotment for Tamilnad Mercantile Bank IPO will be done on Sep 12, 2022, and the allotted shares will be credited to your demat account by Sep 14, 2022.
Check the IPO allotment status.
The Tamilnad Mercantile Bank IPO listing date is Sep 15, 2022. The tentative date of Tamilnad Mercantile Bank IPO listing is Sep 15, 2022.
To Bid online, you need
Demat Account and Pan card.
Login to SMC account and
select the Tamilnad Mercantile Bank IPO
Enter UPI Id & Mobile number
Place your number of bids
with the exchange
A UPI mandate is sent to your
UPI App to block your funds.
