What is the issue size of Tamilnad Mercantile Bank Limited IPO?

Tamilnad Mercantile Bank IPO is a fresh issue of equity shares of Rs.10 each totaling up to Rs. 831.60 crores

What is 'pre-apply' for Tamilnad Mercantile Bank Limited IPO?

Pre-apply will alow you to apply for the Tamilnad Mercantile Bank Limited IPO 2 days before the subscription period starts.

If I pre-apply for Tamilnad Mercantile Bank Limited IPO, when will my order get placed?

Your order will be placed on the exchange as soon as the Tamilnad Mercantile Bank Limited IPO bidding starts. You will receive a UPI request within 24 hours after the bidding period opens.

When will I know if my Tamilnad Mercantile Bank Limited IPO order is placed?

We will notify you when your Tamilnad Mercantile Bank Limited IPO order is placed with the exchange.

What are the open and close dates of the Tamilnad Mercantile Bank Limited IPO?

Tamilnad Mercantile Bank Limited IPO will open on September 05, 2022. The last date of application is September 07, 2022.

What is the lot size and minimum order quantity of the Tamilnad Mercantile Bank Limited IPO?

The minimum order quantity and lot size of Tamilnad Mercantile Bank IPO is 28 shares.

What are the allotment dates for the Tamilnad Mercantile Bank Limited IPO?

Tamilnad Mercantile Bank Limited IPO allotment date is September 12, 2022.

Who is the registrar of Tamilnad Mercantile Bank Limited IPO?

Tamilnad Mercantile Bank Limited IPO registrar is Link Intime India Private Limited

Where is the Tamilnad Mercantile Bank Limited IPO getting listed?

The shares are proposed to be listed on the BSE and NSE.

Tamilnad Mercantile Bank IPO

Tamilnad Mercantile Bank Ltd.

₹14,000 /28 sharesMinimum Investment

Tamilnad Mercantile Bank IPO DetailsBidding DatesMin. InvestmentLot SizePrice Range
5 Sep ‘22 - 7 Sep ‘22₹14,00028₹500 - ₹525
Issue SizeIPO Doc
831.68CrRHP PDF
Subscription Status As on 07 Sep '22, 7:00 PMQualified Institutional Buyers
1.62x
Retail Individual Investor
6.48x
Non-Institutional Investor
2.94x
Total
2.86x
About Tamilnad Mercantile BankTamilnad Mercantile Bank Limited is one of the oldest and leading old private sector banks in India with a history of almost 100 years. It offers a wide range of banking and financial services primarily to micro, small and medium enterprises, agricultural, and retail customers. The bank has 509 branches, of which 106 branches are in rural, 247 in semi-urban, 80 in urban, and 76 in metropolitan cities. Other than Tamil Nadu, the bank has a presence in 15 states and union territories. The customer base as of March 31, 2022, was approximately 5.08 million. ;
Parent Organisation
Tamilnad Mercantile Bank Ltd.
Founded
1921
Managing Director
K.V. Rama Moorthy
Should you invest in Tamilnad Mercantile Bank Ltd. IPO? | TMB IPO review
Strengths & Risks
Almost 100 years of history, loyal customer base, and focus on improving the servicing framework
Strong presence in Tamil Nadu with a focus to increase presence in other strategic regions
Advances with a focus on MSME, agricultural, and retail segments
Consistently growing deposit base with a focus on low-cost retail CASA
Professionally managed Bank with an experienced senior management team and board of directors
Strong asset quality, underwriting practices, and risk management policies and procedures
Consistent financial performance
37.73% of the bank’s paid-up equity share capital or 53.76 million Equity Shares are subject to outstanding legal proceedings which are pending at various forums
Failure by borrowers to repay the outstanding borrowings
The bank has received and may in the future receive multiple anonymous whistle-blower complaints
The bank’s former director has filed a writ petition before the High Court of Madras seeking to prevent it from undertaking the IPO
Regional concentration in southern India
Inability to comply with regulatory laws, regulations, and norms
The bank’s contingent liabilities exceed its net worth
The continuing impact of the Covid-19 pandemic
Negative cash flows in the past
Inability to maintain CRR, SLR, and capital adequacy ratios
Dependency on the accuracy and completeness of information about customers and counterparties
Any non-compliance with mandatory AML, KYC, and CFT laws and regulations
Financials
*All values are in Rs. Cr
No Graph Data To Display
Application detailsApply asPrice bandApply upto
Regular₹500 - 525₹2 Lakh
For Tamilnad Mercantile Bank IPO, eligible investors can apply as Regular.

Bidding Dates	Min. Investment	Lot Size	Price Range
5 Sep ‘22 - 7 Sep ‘22	₹14,000	28	₹500 - ₹525

Issue Size	IPO Doc
831.68Cr	RHP PDF

Apply as	Price band	Apply upto
Regular	₹500 - 525	₹2 Lakh

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