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Tamilnad Mercantile Bank IPO is a book build issue of ₹807.84 crores. The issue is entirely a fresh issue of 1.58 crore shares of ₹807.84 crore.
Tamilnad Mercantile Bank IPO bidding started from Sep 5, 2022 and ended on Sep 7, 2022. The allotment for Tamilnad Mercantile Bank IPO was finalized on Sep 12, 2022. The shares got listed on BSE, NSE on Sep 15, 2022.
Tamilnad Mercantile Bank IPO price band is set at ₹510.00 per share . The lot size for an application is 28. The minimum amount of investment required by an retail is ₹14,000 (28 shares). The lot size investment for sNII is 15 lots (420 shares), amounting to ₹2,14,200, and for bNII, it is 71 lots (1,988 shares), amounting to ₹10,13,880.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Tamilnad Mercantile Bank IPO RHP for detailed Information.
| IPO Date | September 5, 2022 to September 7, 2022 |
| Listing Date | September 15, 2022 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹500 to ₹525 per share |
| Issue Price Final | ₹510 per share |
| Lot Size | 28 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 1,58,40,000 shares (aggregating up to ₹807.84 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 14,25,11,454 shares |
| Share Holding Post Issue | 15,83,51,454 shares |
Tamilnad Mercantile Bank IPO offers total 1,58,40,000 shares. Out of which 1,18,80,000 (75.00%) allocated to QIB, 47,52,000 (30.00%) allocated to QIB, 23,76,000 (15.00%) allocated to NII, 15,84,000 (10.00%) allocated to RII and 71,28,000 (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,18,80,000 (75.00%) | NA |
| − Anchor Investor Shares Offered | 71,28,000 (45.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 47,52,000 (30.00%) | NA |
| NII (HNI) Shares Offered | 23,76,000 (15.00%) | NA |
| − bNII > ₹10L | 15,84,000 (10.00%) | 4,040 |
| − sNII < ₹10L | 7,92,000 (5.00%) | 2,020 |
| Retail Shares Offered | 15,84,000 (10.00%) | 56,571 |
| Total Shares Offered | 1,58,40,000 (100.00%) |
Tamilnad Mercantile Bank IPO raises ₹374.22 crore from anchor investors. Tamilnad Mercantile Bank IPO Anchor bid date is September 4, 2022. Tamilnad Mercantile Bank IPO Anchor Investors list
| Bid Date | September 4, 2022 |
| Shares Offered | 71,28,000 |
| Anchor Portion Size (In Cr.) | 374.22 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 12, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 11, 2022 |
Tamilnad Mercantile Bank IPO opens on September 5, 2022, and closes on September 7, 2022.
| IPO Open Date | Mon, Sep 5, 2022 |
| IPO Close Date | Wed, Sep 7, 2022 |
| Tentative Allotment | Mon, Sep 12, 2022 |
| Initiation of Refunds | Tue, Sep 13, 2022 |
| Credit of Shares to Demat | Wed, Sep 14, 2022 |
| Tentative Listing Date | Thu, Sep 15, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Sep 7, 2022 |
Investors can bid for a minimum of 28 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 28 | ₹14,280 |
| Retail (Max) | 14 | 392 | ₹1,99,920 |
| S-HNI (Min) | 15 | 420 | ₹2,14,200 |
| S-HNI (Max) | 70 | 1,960 | ₹9,99,600 |
| B-HNI (Min) | 71 | 1,988 | ₹10,13,880 |
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
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-20 | 42758.8 | 3992.53 | 464.89 | 3979.65 | 3837.14 |
| 31-Mar-21 | 47527.17 | 4253.4 | 654.04 | 4579.98 | 4437.47 |
| 31-Mar-22 | 52858.49 | 4656.44 | 901.9 | 5335.71 | 5193.2 |
| Amount in ₹ Crore | |||||
The market capitalization of Tamilnad Mercantile Bank IPO is ₹8313.45 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 9.22 |
The net proceeds from the issue will be utilized for the following purposes;
[Dilip Davda] On all counts, except the pending legal matter in regard to OFS, this issue is fairly priced and holds good future prospects. Though conservative, the steady growth track record and sound fundamentals of the bank augur well for considering the reasonably priced issue from a medium to long-term perspective. Read detail review...
| Listing Date | September 15, 2022 |
| BSE Script Code | 543596 |
| NSE Symbol | TMB |
| ISIN | INE668A01016 |
| Final Issue Price | ₹510 per share |
| BSE Listing Group | T |
Tamilnad Mercantile Bank Ltd.
No. 57, Victoria Extension Road
Thoothukudi – 628 002,
Thoothukudi, Tamil Nadu
Phone: +91 461 2325136
Email: secretarial@tmbank.in
Website: http://www.tmb.in/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: tmb.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Tamilnad Mercantile Bank IPO is a main-board IPO of 1,58,40,000 equity shares of the face value of ₹10 aggregating up to ₹807.84 Crores. The issue is priced at ₹510 per share. The minimum order quantity is 28.
The IPO opens on September 5, 2022, and closes on September 7, 2022.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Tamilnad Mercantile Bank IPO using UPI as a payment gateway. Zerodha customers can apply in Tamilnad Mercantile Bank IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Tamilnad Mercantile Bank IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Tamilnad Mercantile Bank IPO opens on September 5, 2022 and closes on September 7, 2022.
Tamilnad Mercantile Bank IPO lot size is 28, and the minimum amount required for application is ₹14,280.
You can apply in Tamilnad Mercantile Bank IPO online using either UPI or ASBA as a 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. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Tamilnad Mercantile Bank IPO will be done on Monday, September 12, 2022, and the allotted shares will be credited to your demat account by Wednesday, September 14, 2022. Check the Tamilnad Mercantile Bank IPO allotment status.
The Tamilnad Mercantile Bank IPO listing date is on Thursday, September 15, 2022.
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