Tamilnad Mercantile Bank IPO GMP, Grey Market Premium Today (Live)
Tamilnad Mercantile Bank IPO: Tamilnad Mercantile Bank IPO GMP (Tamilnad Mercantile Bank Grey Market Premium), Tamilnad Mercantile Bank (TMB) IPO Date, Tamilnad Mercantile Bank Ltd IPO Review, Tamilnad Mercantile Bank IPO Benefits & Risks. We will update Tamilnad Mercantile Bank GMP daily. Also, all information related to Tamilnad Mercantile Bank IPO like price band, all dates, issue size and retail parts etc.
Tamilnad Mercantile Bank IPO
Tamilnad Mercantile Bank primarily provides banking and financial services to retail customers, Micro, Small, and Medium Enterprises (MSMEs), and more. Tamilnad Mercantile Bank Ltd Has filed its DRHP (Draft Red Herring Prospectus) with market regulator SEBI (Securities and Exchange Board of India) to raise around Rs 831.60 crore through IPO (Initial public offering).
Tamilnad Mercantile Bank IPO will open on 05 September 2022 and close on 07 September 2022. The price band of the Tamilnad Mercantile Bank IPO is ₹500 to ₹525. Tamilnad Mercantile Bank IPO size is 831.60 Crores. The offer includes 831.60 Crores under fresh issue and No offer for sale. Tamilnad Mercantile Bank IPO QIB quota is 75%, NII quota is 15% and RII quota is 10%. Tamilnad Mercantile Bank IPO listing date is 15 September 2022. You can know about Tamilnad Mercantile Bank IPO GMP (Grey Market Premium) below.
The Tamilnad Merchantile Bank has given excellent financial performance. The company made a profit of ₹901 crores in the financial year 2022 (31 March 2022). The IPO of Tamilnad Mercantile Bank will be listed on NSE and BSE. Tamilnad Mercantile Bank IPO face value is ₹10 per equity share.
We will talk about Tamilnad Mercantile Bank's finance, benefits, and risks of investing in the company.
Read About
What is Tamilnad Mercantile Bank IPO GMP Today?
Tamilnad Mercantile Bank IPO GMP is ₹14.
What is the Tamilnad Mercantile Bank IPO Date?
Tamilnad Mercantile Bank IPO Opening date is 05 September 2022.
What is Tamilnad Mercantile Bank IPO Expected Return?
Tamilnad Mercantile Bank IPO Expected Returns is approx 5%.
About Tamilnad Mercantile Bank International Ltd
Tamilnad Mercantile Bank was established in the year 1921. Tamilnad Mercantile Bank (TMB) is one of the oldest private sector banks in India. Tamilnad Mercantile Bank primarily provides banking and financial services to retail customers, Micro, Small, and Medium Enterprises (MSMEs), and more. Tamilnad Mercantile Bank has a strong portfolio of advances and deposits from a diverse customer base including retail customers, agricultural customers, and MSMEs.
As per reports, As of March 31, 2022, Tamilnad Mercantile Bank has a strong branch network of 509 branches. Also, the bank has a total customer base of 5.08 million. This bank has a significant market presence in Tamilnad with 369 branches. Tamilnad Mercantile Bank is not only present in Tamil Nadu but it is also present in 15 other states and 4 union territories of India.
Important Links
Purpose of the offer
- To prepay/repay all or a part of the dues raised by the company.
- To get the benefits of listing the shares on the stock exchanges.
- To meet general corporate objectives.
Tamilnad Mercantile Bank GMP Today (Grey Market Premium)
[Note: Tamilnad Mercantile Bank GMP of IPO is given below]
| DATE | GMP | KOSTAK | Subject to Sauda |
|---|---|---|---|
| 15 September | ₹14 | ₹- | ₹2000 |
| 14 September | ₹12 | ₹- | ₹2000 |
| 13 September | ₹15 | ₹- | ₹- |
| 12 September | ₹15 | ₹- | ₹- |
| 11 September | ₹25 | ₹- | ₹2500 |
| 10 September | ₹25 | ₹- | ₹2500 |
| 09 September | ₹25 | ₹- | ₹2500 |
| 08 September | ₹5 | ₹- | ₹2500 |
| 07 September | ₹15 | ₹500 | ₹2500 |
| 06 September | ₹15 | ₹500 | ₹2500 |
| 05 September | ₹35 | ₹- | ₹500 |
| 04 September | ₹35 | ₹- | ₹500 |
| 03 September | ₹35 | ₹- | ₹500 |
| 02 September | ₹35 | ₹- | ₹500 |
| 01 September | ₹- | ₹- | ₹500 |
| 31 August | ₹- | ₹- | ₹- |
Tamilnad Mercantile Bank IPO Date and Price Band Details
Tamilnad Mercantile Bank IPO open date: 05 September 2022, Closing date: 07 September 2022, and Listing date: 15 September 2022. The price band of Tamilnad Mercantile Bank IPO is ₹500 to ₹525 per share. Tamilnad Mercantile's IPO issue size is Rs 831.60 crores. Tamilnad Mercantile Bank Ipo retails portion is 10%, QIB Portion is 75%, and NII Portion is 15%.
| IPO Open: | 05 September 2022 |
| IPO Close: | 07 September 2022 |
| Listing Date: | 15 September 2022 |
| Listing On: | NSE & BSE |
| IPO Size: | Approx ₹831.60 crores |
| Fresh Issue: | Approx ₹831.60 crores |
| Offer For Sale: | No OFS Includes |
| Price Band: | ₹500 to ₹525 per share |
| Face Value: | ₹10 per Equity share |
| QIB Portion: | 75% |
| Retail Portion: | 10% |
| NII Portion: | 15% |
| Employee Res: | Not Disclosed |
Tamilnad Mercantile Bank IPO Market Lot & Size
Tamilnad Mercantile Bank IPO's minimum lot size is 28 shares with ₹14,700 application amount and the maximum lot size is 364 shares with ₹191,100 application amount.
| Minimum Lot: | 01 |
| Minimum Lot Size: | 28 Shares |
| Minimum Amount: | ₹14,700 |
| Maximum Lot: | 13 |
| Maximum Lot Size: | 364 Shares |
| Maximum Amount: | ₹191,100 |
Tamilnad Mercantile Bank IPO Allotment & Listing Date
| Ipo Opening Date: | 05 September 2022 |
| IPO Closing Date: | 07 September2022 |
| Basis of Allotment: | 12 September 2022 |
| Refund Date: | 13 September 2022 |
| Credit to Demat Account: | 14 September 2022 |
| Listing Date: | 15 September 2022 |
Tamilnad Mercantile Bank IPO Review
HappiestPost View: Apply
Brokerage Firm IPO Reviews
- Motilal Oswal: To be updated
- ICICI Direct: May Apply
- Capital Market: Neutral
- Ventura Securities: Apply
- Yes Securities: Apply
Tamilnad Mercantile Bank Ipo Review
[Note: Rated by Happiest Post]
Review For Listing Gain
Review For Short term
Review For Long term
Strength
- The company has a long-term track record with a history of nearly 100 years.
- Apart from the state of Tamil Nadu, the bank has a presence in 15 other states as well.
- The company has a strong presence in Tamil Nadu and continues to focus on expanding its presence in strategic areas.
- The company has a diverse product portfolio.
- The company has a loyal customer base.
- The company has a proven financial performance track record over the years.
- The company is making progress in MSME, Agriculture, and Retail sectors.
- The company has a Board of Directors with vast experience and a top leadership team.
Risks
- In the long run, the increase in his portfolio of non-performing assets (NPAs) can have a negative impact on his bank.
- They will not be able to open additional branches till they are listed as per RBI rules.
- His bank provides its product services in many different areas, due to which the chances of increasing the NPA of the bank increases.
- Contingent liabilities of the company exceed its net worth, which can have a negative impact on the company and business.
- Any change in any kind of norms related to their sector can have a negative impact on their operations.
Tamilnad Mercantile Bank Ltd Financials
Tamilnad Mercantile Bank Financials(in Crores)
| Year | Total Assets | Revenue | Profit |
|---|---|---|---|
| Mar 2019 | ₹40,532.80 | ₹3,638.80 | ₹294.62 |
| Mar 2020 | ₹42,758.80 | ₹3,992.53 | ₹464.89 |
| Mar 2021 | ₹47,527.17 | ₹4,253.40 | ₹654.04 |
| Sep 2021 | ₹52858.49 | ₹4,656.44 | ₹901.90 |
Promoters
The promoters of the company are:
- [.]
Contact Details of Tamilnad Mercantile Bank
Tamilnad Mercantile Bank Limited
No. 57, Victoria Extension Road,
Thoothukudi – 628 002, Tamil Nadu, India
Tel: +91 461 2325136
E-mail: secretarial@tmbank.in
Website: www.tmb.in
Tamilnad Mercantile Bank Lead Managers
- Axis Capital Limited
- SBI Capital Markets Limited
- Motilal Oswal Investment Advisors Limited
Tamilnad Mercantile Bank IPO Registrars
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West,
Mumbai 400 083
Maharashtra, India
Tel: +91 22 4918 6200
E-mail: tmb.ipo@linkintime.co.in
Website: www.linkintime.co.in
Conclusion
The track record has been excellent considering the financial position of the company. The company had a profit of Rs 901 crore in the financial year 2022. The company has a diversified product portfolio. You can apply for small listing gain and long-term in Tamil Nadu Mercantile Bank Limited IPO.
If you are going to apply for multiple lots then you should think of applying on the last day (after seeing the IPO subscription numbers of Day 1 and Day 2). Tamil Nadu Mercantile Bank Limited IPO financial details and other information is given above.
Tamilnad Mercantile Bank IPO FAQs
What is Tamilnad Mercantile Bank IPO GMP Today?
Tamilnad Mercantile Bank IPO GMP is ₹12 as of today.
What is the Tamilnad Mercantile Bank IPO Opening Date?
Tamilnad Mercantile Bank IPO Opening date is 05 September 2022.
What is the Tamilnad Mercantile Bank IPO Closing Date?
Tamilnad Mercantile Bank IPO Closing date is 07 September 2022.
What is the Tamilnad Mercantile Bank IPO Allotment date?
Tamilnad Mercantile Bank IPO Allotment Date is 12 September 2022.
What is the Tamilnad Mercantile Bank IPO Listing Date?
The Tamilnad Mercantile Bank IPO Date is 15 September 2022.
What is Tamilnad Mercantile Bank IPO Kostak Rate?
Tamilnad Mercantile Bank IPO Kostak rate is ₹500.
What is Tamilnad Mercantile Bank IPO Expected Returns?
Tamilnad Mercantile Bank IPO Expected Returns is 10%.
Read More:
You can also know about the stock market and Grey Market Premium, IPO Allotment Status.
How to Apply the Tamilnad Mercantile Bank Ltd IPO with Zerodha?
1. Open your Zerodha kite app and visit the Account tab, then see for console and click on IPO.
2. If you are a Desktop user then Log in to Console on Zerodha Website. Go to Portfolio and Click on IPO.
3. You will see the IPO name "Tamilnad Mercantile Bank Ltd".
4. Then, Click on Bid Button.
5. Then, Enter your UPI ID.
6. Then, Fill in Quantity and Price. (we recommend, that you should choose the cutoff price.)
7. Then Submit the IPO Application Form.
8. Now go to your UPI App (PhonePe, Google Pay, etc) or BHIM App to Approve the mandate.
7. Then Submit the IPO Application Form.
8. Now go to your UPI App (PhonePe, Google Pay, etc) or BHIM App to Approve the mandate.
Disclaimer
- We are not involved in gray market trading in any way. And do not provide the facility to buy or sell any IPO from IPO.
- Reference to IPO Grey Market Premium (IPO GMP) is valid only for the date specified in the header.
- We are not involved in the buying or selling of IPO form.
- Do not decide to subscribe to an IPO solely based on GMP (Grey Market Premium), as this can change at any time. Research the fundamentals and financial statements of companies before subscribing.
We hope you like this article about Tamilnad Mercantile Bank IPO. If you have a query about Tamilnad Mercantile Bank IPO Please post a comment.
Thanks For Visiting & Happy Investing.
0 Comments
We are waiting for your comments. 💙