Tamilnad Mercantile Bank Limited IPO Closed

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IPO date 05 Sep 2022 – 07 Sep 2022
Listing date 15 Sep 2022
Price range 500 – 525
Minimum order quantity 28
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Tamilnad Mercantile Bank Limited is one of the oldest and leading old private sector banks in India with a history of almost 100 years. They 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 bank has 509 branches, of which 106 branches are in rural, 247 in semi-urban, 80 in urban and 76 in metropolitan centres.

The overall customer base of Tamilnad Mercantile Bank is approximately 5.08 million as of March 31, 2022, and 4.05 million or 79.78% of its customers have been associated with the bank for a period of more than five years and have contributed to Rs. 350,142.39 million or 77.93% to deposits and Rs. 219,022.26 million or 64.90% to advances portfolios as of March 2022.

As per the CRISIL Report, it had the second highest Net Profit for Fiscal 2022 amongst its peers, and its Return on Assets was also higher at 1.66% compared to a median of 0.80% for Peers for Fiscal 2022.

The public offer of Tamilnad Mercantile Bank comprises a fresh issue of 1.58 crore equity shares aggregating up to Rs. 831.6 crores at the upper end of the price band.

Financial Snapshot

Financial Year Ended Revenue (₹ Crores) Profit for the period (₹ Crores) EPS (₹)
March 2020 3,992.52 464.89 28.61
March 2021 4253.40 654.04 42.34
March 2022 4,656.44 901.90 57.67

IPO Schedule

Issue Period 5th September to 7th September 2022
Finalization of Allotment 12th September 2022
Initiation of Refunds 13th September 2022
Credit of Shares 14th September 2022
Date of Listing 15th September 2022
Mandate end date 23rd September 2022
Anchor Investors Lock-In End Date 7th October 2022

How do I apply to the Tamilnad Mercantile Bank Limited IPO?

You can apply for the Tamilnad Mercantile Bank Limited IPO using any supported UPI app by following two steps:

  • Enter your bid on Kite
  • Accept UPI mandate on your phone

On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.

Where do I check the allotment status for Tamilnad Mercantile Bank Limited IPO?

You can check the allotment status for the Tamilnad Mercantile Bank Limited IPO on the website of the Registrar and Transfer agent.

Alternatively, you can also check the allotment status on the NSE website.