HomeIPOTamilnad Mercantile Bank IPO Details

Tamilnad Mercantile Bank IPO Details

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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”)

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

DescriptionTMB IPO Details
Public IssueInitial Public Issue of upto 15,840,000 Equity Shares of ₹ 10 (aggregating up to ₹ 831.60 crore)
Issue Open  Date05-Sep-22
Issue Close Date07-Sep-22
Issue TypeBook 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 InvestorRs. 2,00,000
Listing NSE, BSE
NSE SymbolTMB
IPO Market Timings 10.00 a.m. to 5.00 p.m.

Issue Size

Issue Size15,840,000 Equity Shares of ₹ 10 (aggregating up to ₹ [.] million)
Fresh Issue15,840,000 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

ApplicationLotsNo of SharesAmount (Rs)
Minimum128₹ 14,700
Maximum13364₹ 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

DetailsDate
Bid / Offer Opens on05-Sep-22
Bid / Offer Closes on07-Sep-22
Finalisation of Basis of Allotment12-Sep-22
Initiation of refunds 13-Sep-22
Credit of the Equity Shares14-Sep-22
Listing Date15-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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