Bookbuilding IPO | ₹808 Cr | Listed at BSE, NSE | Mon, Sep 5, 2022 - Wed, Sep 7, 2022
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 per share. The lot size for an application is 28. The minimum amount of investment required by an retail is ₹14,700 (28 shares) (based on upper price). 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 Open
Mon, Sep 5, 2022
IPO Close
Wed, Sep 7, 2022
Issue Price
₹510 per share
Market Cap (Pre-IPO)
₹8,313.45 Cr
| IPO Date | 5 to 7 Sep, 2022 |
| Listed on | Thu, Sep 15, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹500 to ₹525 |
| Issue Price | ₹510 per share |
| Lot Size | 28 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,58,40,000 shares (agg. up to ₹808 Cr) |
| Fresh Issue | 1,58,40,000 shares (agg. up to ₹808 Cr) |
| Share Holding Pre Issue | 14,25,11,454 shares |
| Share Holding Post Issue | 15,83,51,454 shares |
| BSE Script Code / NSE Symbol | 543596 / TMB |
| ISIN | INE668A01016 |
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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 28 shares and in multiples thereof.
| 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 |
Tamilnad Mercantile Bank IPO raises ₹374.22 crore from anchor investors. Tamilnad Mercantile Bank IPO Anchor bid date is September 2, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Sep 2, 2022 |
| Shares Offered | 71,28,000 |
| Anchor Portion (₹ Cr.) | 374.22 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Oct 12, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Dec 11, 2022 |
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 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|
| Assets | 52,858.49 | 47,527.17 | 42,758.80 |
| Total Income | 4,656.44 | 4,253.40 | 3,992.53 |
| Profit After Tax | 901.90 | 654.04 | 464.89 |
| NET Worth | 5,335.71 | 4,579.98 | 3,979.65 |
| Reserves and Surplus | 5,193.20 | 4,437.47 | 3,837.14 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Augmenting its Tier–I capital base tomeet its future capital requirements |
| KPI | |
|---|---|
| ROE | 16.58 |
| RoNW | 15.4 |
| PAT Margin | 17.65% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 57.67 | |
| P/E (x) | 9.22 | |
| Market Cap | ₹8,313.45 Cr. |
The Tamilnad Mercantile Bank IPO is subscribed 2.86 times on September 7, 2022 7:00:00 PM (Day 3). The public issue subscribed 6.48 times in the retail category, 1.62 times in the QIB category, and 2.94 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.62 | 47,52,000 | 76,86,392 |
| NII | 2.94 | 23,76,000 | 69,90,312 |
| bNII (bids above ₹10L) | 3.1 | 15,84,000 | 49,09,940 |
| sNII (bids below ₹10L) | 2.63 | 7,92,000 | 20,80,372 |
| Retail | 6.48 | 15,84,000 | 1,02,64,268 |
| Total | 2.86 | 87,12,000 | 2,49,40,972 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees | 21.45 |
| 2 | Commission/processing fee for SCSBs and the Bankers to the Offer. Brokerage, underwriting commission and sellingcommission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs; andBrokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 1.94 |
| 3 | Fees payable to the Registrar to the Offer | 0.15 |
| 4 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 2.77 |
| 5 | Printing and stationery | 1.59 |
| 6 | Advertising and marketing expenses | 7.66 |
| 7 | Fee payable to legal counsel | 3.31 |
| 8 | Miscellaneous | 3.96 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹510.00 | ₹510.00 |
| Open | ₹510.00 | ₹495.00 |
| Low | ₹484.50 | ₹481.00 |
| High | ₹519.00 | ₹515.00 |
| Last Trade | ₹508.45 | ₹509.65 |
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 ₹808 Crores. The issue is priced at ₹510 per share. The minimum order quantity is 28.
The IPO opens on Mon, Sep 5, 2022, and closes on Wed, Sep 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 Mon, Sep 5, 2022 and closes on Wed, Sep 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 Wed, Sep 14, 2022. Check the Tamilnad Mercantile Bank IPO allotment status.
The Tamilnad Mercantile Bank IPO listing date is on Thu, Sep 15, 2022.
