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Open
5 Sep 2022
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Close
7 Sep 2022
3
Allotment
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Listing
Thu, Sep 15, 2022
Price Band
₹500 to ₹525
Issue Size
1,58,40,000 shares (agg. up to ₹808 Cr)
Lot Size
28 Shares
Listing Date
Thu, Sep 15, 2022
Latest GMP
₹14
Est. Gain
2.67%
✦ AI Insight
GMP Trend
15-09-2022₹14Est. ₹539+2.67%
14-09-2022₹12Est. ₹537+2.29%
12-09-2022₹5Est. ₹530+1.05%
Live Subscription
| Category | Subscription (times) |
|---|---|
| Total | 1.98x |
Restated Financials (₹ Cr.)
| 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 |
Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Augmenting its Tier–I capital base tomeet its future capital requirements |
About Tamilnad Mercantile Bank IPO
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 Long-term track record with almost 100 years of history. Strong presence in Tamil Nadu and consistent focus to expand presence in strategic regions. Diversified and loyal customer base i.e., retail, MSMEs, and agricultural. Consistently growing customer deposit base with a focus on low-cost retail CASA. Proven financial performance track record. + Read More
Contact Details
Tamilnad Mercantile Bank Ltd. AddressNo.57, Victoria Extension RoadThoothukudiThoothukudi, Tamil Nadu, 628002+91 461 2325136secretarial@tmbank.inVisit Website