IPO

Tamilnad Mercantile Bank Ltd IPO

Mainboard

Bank - Private

Listed On: Sep 15, 2022 at ₹ 495.0(NSE)

₹ 14700 /28 Shares

Check Allotment

05 Sep, 2022

Open Date

07 Sep, 2022

Close Date

12 Sep, 2022

Allotment Date

15 Sep, 2022

Listing Date
Price Summary

Last Closing

510.00 (-2.86%)

52 Week High

557.00

52 Week Low

401.00

Last Update

19-Dec-2025 3:30 PM
Tamilnad Mercantile Bank IPO Issue Details
  • Issue Price ₹500-525 per equity share
  • Face Value ₹10 Per Equity Share
  • Issue Price Fresh Issue : 15,840,000 Shares : 831.6 Crores Approx
  • Listing at BSE, NSE
  • List Price 495.0(NSE)
  • Listing Date 2022-09-15
  • Lead Manager Axis Capital,Motilal Oswal,SBI Capital
  • Registrar Link Intime India Private Ltd
Tamilnad Mercantile Bank IPO Details
  • Retail Portion 10% (Number of Retail Applications : 56,570 Approx)
Tamilnad Mercantile Bank IPO Documents
DRHP
RHP
Tamilnad Mercantile Bank IPO Details


The IPO of Tamilnad Mercantile Bank is priced at ₹500-525 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Sep 5, 2022 and ends on Sep 7, 2022. The allotment for Tamilnad Mercantile Bank IPO will be finalized on Sep 12, 2022. Tamilnad Mercantile Bank IPO will be listed on BSE, NSE, with a tentative listing date fixed as Sep 15, 2022. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

The book-running lead manager for the IPO is/are Axis Capital,Motilal Oswal,SBI Capital.


The Tamilnad Mercantile Bank IPO sets its price band at 500-525 for each share. A single application for Tamilnad Mercantile Bank Ltd IPO must contain at least 28 shares.

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Tamilnad Mercantile Bank IPO Subscription Analysis And Details
Retail
6.47x
QIB
1.62x
NII
2.94x
bNII
3.10x
sNII
2.62x
Total
2.86x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 4,752,000 2,376,000
1,584,000    792,000 		1,584,000 8,712,000
Day 1 05-09-22 05:00 PM
0.73 x 0.58
0.72 x   0.32 x 		1.53 x 0.83 x
Day 2 06-09-22 05:00 PM
0.98 x 1.27
1.35 x   1.09 x 		3.61 x 1.53 x
Day 3 07-09-22 05:00 PM
1.62 x 2.94
3.10 x   2.62 x 		6.47 x 2.86 x
Tamilnad Mercantile Bank Valuations
Earnings Per Share (EPS) ₹57.67/-
P/E Ratio N/A
RoNW 15.40%
Net Asset Value (NAV) - As on 31.03.22 ₹374.41
Tamilnad Mercantile Bank Company Financials
In Crs.
In Cr.
31-Mar-22 31-Mar-21 31-Mar-20
Assets 52858.49 47527.17 42758.8
Revenue 4656.44 4253.4 3992.53
Profit After Tax 901.9 654.04 464.89
About Tamilnad Mercantile Bank Company

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.

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Tamilnad Mercantile Bank - Promoter(s)

TMB is a professionally managed bank and does not have an identifiable promoters.

Pre Issue Share Holding : N/A%

Post Issue Share Holding : N/A%

Tamilnad Mercantile Bank IPO - Issue Objectives
1

To augment tier-I capital base to meet future capital requirements.

2

Meet offer issue expenses.

3

To receive the benefits of listing the shares on the stock exchanges.

Tamilnad Mercantile Bank IPO - Anchor Investors

Ahead of IPO, Tamilnad Mercantile Bank collects Rs 363 crore from anchor investors.
The company has decided to allocate 71.28 lakh equity shares to anchor investors at Rs 510 apiece, aggregating the transaction size to Rs 363.53 crore.
Societe Generale, Nomura Singapore, Bajaj Allianz Life Insurance Company, Max Life Insurance Company, Kotak Mahindra Life Insurance Company and Moneyewise Financial Services are among the anchor investors.