Tamilnad Mercantile Bank IPO

Tamilnad Mercantile Bank Ltd.

₹14,000 /28 sharesMinimum Investment

Tamilnad Mercantile Bank IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
BSE & NSE₹525.00₹495.00-₹30.00 (5.71%)

Tamilnad Mercantile Bank IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
5 Sep ‘22 - 7 Sep ‘22₹14,00028₹500 - ₹525
Issue SizeIPO Doc
831.68Cr
RHP PDF

About Tamilnad Mercantile Bank

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
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