Tamilnad Mercantile Bank IPO subscription is to open on Sep 05, 2022 and will close on Sep 07, 2022, the price band of the Tamilnad Mercantile Bank IPO is fixed at ₹ 500 – ₹ 525. TMB offer a wide range of banking and financial services primarily to micro, small and medium enterprises (“MSME”), agricultural and retail customers (“RAM”)
- Tamilnad Mercantile Bank IPO GMP
- Tamilnad Mercantile Bank IPO Subscription Status
- Tamilnad Mercantile Bank IPO Allotment Status
- Tamilnad Mercantile Bank IPO Listing Date
- About Tamilnad Mercantile Bank
- Objects of the Issue
- Tamilnad Mercantile Bank Limited Financials:
- Tamilnad Mercantile Bank IPO Price – Details
- Issue Size
- Company Promoters
- Tamilnad Mercantile Bank IPO Lot Size
- TMB IPO DRHP & RHP
- Registered and Corporate Office
- TMB IPO Lead Managers
- TMB IPO Registrar
- TMB IPO Allotment Date, Listing Date and other Important Dates
- Tamilnad Mercantile Bank IPO – FAQS
About Tamilnad Mercantile Bank
Incorporated as ‘Nadar Bank Limited’ in 1921 and the name was changed to ‘Tamilnad Mercantile Bank Limited’ in the year 1962. TMB is one of the oldest and leading old private sector banks in India with a history of almost 100 years
TMB offer a wide range of banking and financial services primarily to micro, small and medium enterprises (“MSME”), agricultural and retail customers (“RAM”). TMB has 509 branches, of which 106 branches are in rural, 247 in semi-urban, 80 in urban and 76 in metropolitan centres.
The overall customer base is approximately 5.08 million as of March 31, 2022 and 4.05 million or 79.78% of the customers have been associated with bank for a period of more than five years and have contributed to ₹ 350,142.39 million or 77.93% to our deposits and ₹ 219,022.26 million or 64.90% to the advances portfolios as of March 2022.
Objects of the Issue
- Bank proposes to utilize the Net Proceeds towards augmenting its Tier–I capital base to meet its future capital requirements.
- The Offer will also be used towards meeting the expenses in relation to the Offer
- To receive the benefits of listing the Equity Shares on the Stock Exchanges.
Tamilnad Mercantile Bank Limited Financials:
Summary of financial Information (Restated Consolidated Statement)
| Particulars | For the year ended (₹ in million) | ||
|---|---|---|---|
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |
| Total Assets | 5,28,584.88 | 4,75,271.69 | 4,27,587.97 |
| Total income | 46,564.35 | 42,534.02 | 39,925.29 |
| Total Expenses | 38,345.26 | 36,500.73 | 35,848.35 |
| Profit After Tax | 9,019.02 | 6,540.43 | 4,648.92 |
Tamilnad Mercantile Bank IPO Price – Details
| Description | TMB IPO Details |
|---|---|
| Public Issue | Initial Public Issue of upto 15,840,000 Equity Shares of ₹ 10 (aggregating up to ₹ 831.60 crore) |
| Issue Open Date | 05-Sep-22 |
| Issue Close Date | 07-Sep-22 |
| Issue Type | Book Built |
| IPO Price Band | ₹ 500 – ₹ 525 |
| Face Value | ₹ 10 |
| Market Lot | 28 Equity Shares and in multiples thereof |
| Minimum Order Quantity | 28 Equity Shares |
| Maximum Subscription Amount for Retail Investor | Rs. 2,00,000 |
| Listing | NSE, BSE |
| NSE Symbol | TMB |
| IPO Market Timings | 10.00 a.m. to 5.00 p.m. |
Issue Size
| Issue Size | 15,840,000 Equity Shares of ₹ 10 (aggregating up to ₹ [.] million) |
| Fresh Issue | 15,840,000 Equity Shares of ₹ 10 (aggregating up to ₹ [.] million) |
Company Promoters
- Tamilnad Mercantile Bank is a professionally managed bank and does not have an identifiable promoters.
Tamilnad Mercantile Bank IPO Lot Size
| Application | Lots | No of Shares | Amount (Rs) |
| Minimum | 1 | 28 | ₹ 14,700 |
| Maximum | 13 | 364 | ₹ 1,91,100 |
TMB IPO DRHP & RHP
Registered and Corporate Office
No. 57, Victoria Extension Road,
Thoothukudi – 628 002,
Tamil Nadu, India
Website: www.tmb.in
TMB IPO Lead Managers
- Axis Capital Limited
- Motilal Oswal Investment Advisors Limited
- SBI Capital Markets Limited
TMB IPO Registrar
TMB IPO Allotment Date, Listing Date and other Important Dates
| Details | Date |
|---|---|
| Bid / Offer Opens on | 05-Sep-22 |
| Bid / Offer Closes on | 07-Sep-22 |
| Finalisation of Basis of Allotment | 12-Sep-22 |
| Initiation of refunds | 13-Sep-22 |
| Credit of the Equity Shares | 14-Sep-22 |
| Listing Date | 15-Sep-22 |
Tamilnad Mercantile Bank IPO – FAQS
What is the TMB IPO Price?
The Tamilnad Mercantile Bank IPO price band is ₹ 500 – ₹ 525 per share
When TMB IPO will open?
The TMB IPO opens on Sep 05, 2022 and closes on Sep 07, 2022
What is the lot size of Tamilnad Mercantile Bank IPO?
The Tamilnad Mercantile Bank IPO lot size is 28 Equity Shares and the minimum order quantity is 28 Equity Shares
Who is the Registrar for Tamilnad Mercantile Bank IPO?
The Registrar for Tamilnad Mercantile Bank IPO is Link Intime India Private Limited
How to apply in Tamilnad Mercantile Bank IPO through UPI?
Check the step by step process here – Click here
How to apply in Tamilnad Mercantile Bank IPO through Zerodha?
Check the step by step process here – Click here
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