The one of the oldest and leading old private sector banks company Tamilnad Mercantile Bank IPO will be open on 05 September 2022 and closes on 07 September 2022. According to RHP, the company wants to raise ₹831.60 crore through IPO. The company will issue fresh shares of ₹831.60 crores through this IPO and will issue shares through offer for sale of ₹- crores.
The company has reserved 75% for QIB, 15% for NII and 10% for Retail Investor in this IPO.
■ The company price band before set as 525 but now the company announced the price band 510. (09-09-2022)
Tamilnad Mercantile Bank is one of the oldest and leading old private sector banks in India with a history of almost 100 years. The TMB offer a wide range of banking and financial services primarily to micro, small and medium enterprises (“MSME”), agricultural and retail customers (“RAM”). As of March 31, 2022, the company have 509 branches, of which 106 branches are in rural, 247 in semi-urban, 80 in urban and 76 in metropolitan centres. You can check here to know Tamilnad Mercantile Bank IPO GMP and Tamilnad Mercantile Bank IPO subscription status here.
| Read also: Upcoming IPO List 2022 |
The TMB head quartered at Thoothukudi, Tamil Nadu, India. The company have built a strong presence in the state of Tamil Nadu, with 369 branches and 949 automated teller machines (“ATMs”) and 255 cash recycler machines (“CRMs”) as of March 31, 2022. Tamil Nadu, the fourth largest state of India, is one of the fastest growing states, with continued focus on MSME and textile industry. Tamil Nadu’s gross state value added (“GSVA”) at current prices grew at a compounded annual growth rate.
The TMB also focus on diversifying our growth in other high growth regions of India which will help increase our network and client base. Other than Tamil Nadu, TMB are present in 15 other states and 4 union territories of India. Apart from Tamil Nadu, The TMB have sizable presence in the states of Maharashtra, Gujarat, Karnataka, and Andhra Pradesh with presence across 90 branches and 125 ATMs and 18 CRMs as of March 31, 2022.
The TMB have also been consistently growing our customer base from approximately, approximately 4.66 million as of March 31, 2020 to approximately 4.91 million as of March 31, 2021 to approximately 5.08 million as of March 31, 2022 at the CAGR of 4.36% from Fiscal 2020 to 2022.
Object Of the Issue :
- Bank proposes to utilize the Net Proceeds towards augmenting its Tier–I capital base to meet its future capital requirements.
- The Gross Proceeds from the Offer will also be used towards meeting the expenses in relation to the Offer.
- The Bank expects to receive the benefits of listing the Equity Shares on the Stock Exchanges.
Company Strengths :
- Strong legacy, loyal customer base and focus on improving servicing framework
- Strong presence in Tamil Nadu with focus to increase presence in other strategic regions
- Advances with focus on MSME, agricultural and retail segments
- Consistently growing deposit base with focus on low-cost retail CASA
- Professionally managed Bank with experienced senior management team and board of directors
- Strong asset quality, underwriting practices and risk management policies and procedures
- Consistent financial performance
Tamilnad Mercantile Bank IPO Review :
■ Apply For Long Term
Tamilnad Mercantile Bank IPO Date & Price Band & Details :
| IPO Open : | 05 September 2022 |
| IPO Close : | 07 September 2022 |
| IPO Size : | ₹831.60 Cr {15,840,000 Shares} |
| Face Value : | ₹10. Equity Share |
| Price Band : | ₹500–₹525 Per Share |
| Listing On : | BSE, NSE |
| Issue Size : | ₹831.60 Cr {15,840,000 Shares} |
| Fresh Issue : | ₹831.60 Cr {15,840,000 Shares} |
| Offer For Sale : | ₹-. Cr |
Tamilnad Mercantile Bank IPO Market Lot :
Tamilnad Mercantile Bank IPO Minimum Market lot is 1 Lot with 28 shares with ₹14,700 Application amount. The retail investors can apply up to 13 lots with 364 Shares or ₹191,100 amounts.
| Minimum Lot Size : | 1 Lot |
| Minimum Share : | 28 Shares |
| Minimum Amount : | ₹14,700 |
| Maximum Lot Size : | 13 Lot |
| Maximum shares : | 364 Shares |
| Maximum Amount : | ₹191,100 |
Tamilnad Mercantile Bank IPO Shares Offer :
A Total of 15,840,000 shares are to be bid for the public issue by Tamilnad Mercantile Bank IPO with 15,840,000 for Fresh issue and – for offer for sale Shares.
| Category | Shares Offers | Amount |
| Fresh issue : | 15,840,000 | ₹831.60 Cr |
| Offer For Sale : | – | ₹– |
| Total : | 15,840,000 | ₹831.60 Cr |
Tamilnad Mercantile Bank IPO Reservation :
Tamilnad Mercantile Bank IPO Total Reservation of 15,840,000 shares are to be bid for the public issue by Tamilnad Mercantile Bank IPO with 11,880,000 for QIB and 2,376,000 for NII 1,584,000 For RII & – Shares EMP.
| Category | Reservation | Shares | Amount |
| QIB : | 75% | 11,880,000 | ₹623.70 Cr |
| NII : | 15% | 2,376,000 | ₹124.74 Cr |
| RII : | 10% | 1,584,000 | ₹83.16 Cr |
| EMP : | – % | – | ₹- |
| Total : | 100% | 15,840,000 | ₹831.60 Cr |
Tamilnad Mercantile Bank IPO EPS & RoNW :
The Tamilnad Mercantile Bank company’s EPS growth & RoNW an Increasing every year, which is shown to you in the table here.
| Year | EPS Growth in (Rs.) | Return on Net Worth % |
|---|---|---|
| 2022 | ₹57.67 | 15.40 |
| 2021 | ₹42.34 | 13.17 |
| 2020 | ₹28.61 | 10.24 |
Tamilnad Mercantile Bank IPO Peer Comparison PE :
The Tamilnad Mercantile Bank, According to DRHP of the company eight company is listed whose PE Multiple is shown in this table.
| Sr. No. | Company | PE Ratio |
| 1. | City Union Bank Limited | 12.54 |
| 2. | CSB Bank Limited | 8.01 |
| 3. | DCB Bank Limited | 7.49 |
| 4. | Federal Bank Limited | 10.23 |
| 5. | Karur Vysya Bank Limited | 5.50 |
| 6. | Karnataka Bank Limited | 3.39 |
| 7. | RBL Bank Limited | N/A |
| 8. | South Indian Bank Limited | 35.81 |
Tamilnad Mercantile Bank IPO Dates :
Tamilnad Mercantile Bank IPO Date is 05 September 2022 and closes on 07 September 2022. The allotment will be finalized on 12 September 2022 and the IPO may list on 15 September 2022.
| Open Date : | 05 September 2022 |
| Close Date : | 07 September 2022 |
| Allotment Date : | 12 September 2022 |
| Refund Date : | 13 September 2022 |
| Share Credit Date : | 14 September 2022 |
| Listing Date : | 15 September 2022 |
Tamilnad Mercantile Bank IPO Form :
There are two ways to apply in Tamilnad Mercantile Bank IPO. You can apply for Tamilnad Mercantile Bank IPO through ASBA available in your bank account. You have to go to your online bank login and select Tamilnad Mercantile Bank IPO in the Invest section and apply through your bank account. Another option is you can apply for Tamilnad Mercantile Bank IPO through IPO form download through NSE and BSE. See the Tamilnad Mercantile Bank IPO Form – Download the NSE Form and BSE Form IPO Form, fill it, and submit it to your bank or your broker.
Tamilnad Mercantile Bank Company Financial Report (in Cr) :
| Year | Total Assets | Revenue | Expense | PAT |
|---|---|---|---|---|
| 2022 | ₹52858.48 | ₹4656.43 | ₹3834.52 | ₹901.90 |
| 2021 | ₹47527.16 | ₹4253.40 | ₹3650.07 | ₹654.04 |
| 2020 | ₹42758.79 | ₹3992.52 | ₹3584.83 | ₹464.89 |
Company Promoters :
■ K.V. Rama Moorthy
Quick Link :
■ DRHP Draft Prospectus
■ RHP Draft Prospectus
Tamilnad Mercantile Bank IPO Lead Managers :
■ Axis Capital Limited
■ Motilal Oswal Investment Advisors Limited
■ SBI Capital Markets Limited
Tamilnad Mercantile Bank IPO Registrar :
Link Intime India Private Limited
C-101, 1 st Floor, 247
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai 400 083
Maharashtra, India
Tel: +91 22 4918 6200
E-mail: [email protected]
Investor grievance e-mail: [email protected]
Website: www.linkintime.co.in
Note: Check Tamilnad Mercantile Bank IPO allotment status Visit IPOBAZAR Allotment Page And Search Your Registrar IPO Allotment Link. Click Here
Company Address :
Tamilnad Mercantile Bank Limited
No. 57, Victoria Extension Road
Thoothukudi – 628 002
Tamil Nadu, India
Tel.: +91 461 2325136
Email: [email protected]
Website: www.tmb.in
Tamilnad Mercantile Bank IPO FAQs :
What is Tamilnad Mercantile Bank IPO?
Tamilnad Mercantile Bank IPO is Mainboard IPO. They are going to raise ₹831.60. Crores via IPO. The issue is priced at ₹500-₹525 per equity share. The IPO is to be listed on NSE, BSE.
When Tamilnad Mercantile Bank IPO will open?
The IPO is to open on 05 Sep – 07 Sep 2022 for QIB, NII & RII.
What is Tamilnad Mercantile Bank IPO Size?
Tamilnad Mercantile Bank IPO size is ₹831.60 Crores.
What is the Fresh issue size of Tamilnad Mercantile Bank IPO?
The Fresh issue size of Tamilnad Mercantile Bank IPO ₹831.60 Cr.
What is the Offer For Sale size of Tamilnad Mercantile Bank IPO?
The Offer For Sale size of Tamilnad Mercantile Bank IPO ₹- Cr.
What is Tamilnad Mercantile Bank IPO Price Band?
Tamilnad Mercantile Bank IPO Price Band is ₹500-₹525 Per share.
What is Tamilnad Mercantile Bank IPO Minimum and Maximum Lot Size?
The minimum 28 Shares with ₹14,700 amount while the maximum 364 shares with ₹191,100.
What is Tamilnad Mercantile Bank IPO Investors Portion?
The investors’ portion for QIB 75%, NII 15%, RII 10%.
What is Tamilnad Mercantile Bank IPO Allotment Date?
Tamilnad Mercantile Bank IPO allotment date is 12 September 2022.
What is Tamilnad Mercantile Bank IPO Listing Date?
Tamilnad Mercantile Bank IPO listing date is 15 September 2022. The IPO to list on NSE, BSE.
How to Apply the Tamilnad Mercantile Bank IPO through Zerodha?
Log in to Console in Zerodha Website. Go to Portfolio and Click on IPO. You will see the IPO Name “Tamilnad Mercantile Bank IPO”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate.
How to Apply the Tamilnad Mercantile Bank IPO through Upstox?
Log in to Upstox Website or app. Go to Portfolio and Click on IPO. You will see the IPO Name “Tamilnad Mercantile Bank IPO”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate.
How to Apply the Tamilnad Mercantile Bank IPO through Groww?
Log in to Groww Website or app. Now you can see IPOs and Click on IPO. You will see the IPO Name “Tamilnad Mercantile Bank IPO”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate.
How to Apply the Tamilnad Mercantile Bank IPO through Paytm Money?
Log in to the Paytm Money Website or app. Now you can see Invest is IPOs Section and Click on IPO. You will see the IPO Name “Tamilnad Mercantile Bank IPO”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate.
| Tamilnad Mercantile Bank IPO GMP: Click Here Tamilnad Mercantile Bank IPO Subscription: Click Here Tamilnad Mercantile Bank IPO Allotment: Click Here Tamilnad Mercantile Bank IPO Listing: Click Here |
All Tamilnad Mercantile Bank IPO-related links are available here. If you want to know the details then click on Click Here Link.
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