Tamilnad Mercantile Bank Limited
IPO Details
Subscription
Lot Distribution
Reservation
Company Fin.
₹16(3.05%)
Premium (ELP)
Tamilnad Mercantile Bank Limited's achieved publicly listed status following its IPO debut on Sep 15, 2022 at the NSE, BSE platform. The offering successfully mobilized 1,58,40,000 Shares, with 1,58,40,000 Shares allocated to corporate growth initiatives.
Investment participation occurred within the established price band of ₹525 to ₹525, starting from minimum lots of 28 shares. The subscription window from Sep 05, 2022 through Sep 07, 2022 enabled investor participation across market segments.
Share allocation was completed on Sep 12, 2022, determining ownership distribution among successful applicants. The listing represents a milestone achievement, transitioning the company to regulated public market status with associated responsibilities and opportunities.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Tamilnad Mercantile Bank (TMB), established in 1921, is one of India’s oldest private sector banks offering a wide range of banking and financial services to retail customers, farmers, and MSMEs. With a strong mix of deposits and loans, the bank serves a diversified customer base. As of March 31, 2022, TMB operates 509 branches and caters to 5.08 million customers, with a major footprint in Tamil Nadu through 369 branches, along with its presence across 15 other states and 4 union territories.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Long Track Record: Nearly 100 years of trusted operations.
- Strong Regional Presence: Well-established in Tamil Nadu with ongoing expansion in key markets.
- Diverse Customer Base: Serves retail, MSMEs, and agricultural clients with strong loyalty.
- Growing Deposits: Steady increase in low-cost retail CASA deposits.
- Proven Performance: Demonstrates consistent and reliable financial results.
NA
- Shri M.V. Shanmugavel Nadar
- Shri T.V. Balagurusamy Nadar
Tamilnad Mercantile Bank Limited
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