Tamilnad Mercantile Bank Limited IPO

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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 June 30, 2021, they have 509 branches, of which 106 branches are in rural, 247 in semi-urban, 80 in urban and 76 in metropolitan centres.

Their overall customer base is approximately 4.93 million as of June 30, 2021, and 3.45 million or 69.96% of their customers have associated with them for a period of more than five years and have contributed to ₹ 275,619 million or 67.02% to their deposits and ₹ 179,638.99 million or 57.56% to their advances portfolios as of June 2021. As per the CRISIL Report, they had the second-highest Net Profit for Fiscal 2021 amongst their Peers, and their Return on Assets was also higher at 1.3% compared to a median 0.7% for their peers for Fiscal 2021.

The entire public offer of Tamilnad Mercantile Bank Limited comprises of fresh issue of 1,58,27,495 Equity Shares and an Offer for Sale of up to 12,505 Equity Shares by the selling shareholders.

Financial Snapshot

Financial Year Ended Revenue (₹ Crores) Profit for the period (₹ Crores) EPS (₹)
March 2019 3,635.79 294.61 18.14
March 2020 3,992.52 464.89 28.61
March 2021 4253.40 654.04 28.61

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 Console
  • 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.