Tamilnad Mercantile Bank Limited IPO
Tamilnad Mercantile Bank Limited IPO
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Tamilnad Mercantile Bank Limited's achieved publicly listed status following its IPO debut on 15-09-2022 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 05-09-2022 through 07-09-2022 enabled investor participation across market segments.
Share allocation was completed on 12-09-2022, 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 IPO About Company
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."
Tamilnad Mercantile IPO Strength Factors
- 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.
Tamilnad Mercantile IPO Risk Factors
NA
Tamilnad Mercantile IPO Lead Manager(s)
- Axis Capital Limited
- Motilal Oswal Investment Advisors Limited
- SBI Capital Markets Limited
Tamilnad Mercantile IPO Promoter(s)
- Shri M.V. Shanmugavel Nadar
- Shri T.V. Balagurusamy Nadar
Tamilnad Mercantile IPO FAQs
Tamilnad Mercantile Bank Limited IPO subscribed 2.86 times. The public issue subscribed 6.48 times in the retail category,1.62times in QIB, and 3.1 times in the HNI (10+) category byDecember 1, 2025 9:58:09 AM (Day 1).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Tamilnad Mercantile IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Tamilnad Mercantile IPO FAQs
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