Tamilnad mercantile bank ipo

The lender has a customer base of 50.8 million, of which 41.8 lakh or about 85 per cent, comes from Tamil Nadu itself. However, it has a presence in Gujarat, Maharashtra, The lender had 509 branches, 106 of which are located in the rural areas, whereas 247 in semi-urban locations, 80 in urban and 76 in metropolitan centres as of March 31, 2022. Most analysts said the asking valuations were attractive when compared with peers, but the bank’s future growth would be subject to pending legal actions. Some of them had a subscribe rating on the issue with a long-term view. Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website: 1) Visit 2) Under the issue type, click Equity 3) Under the issue name, select 4) Write the application number 5) Add the PAN card ID 6) Click on 'I am not a Robot' and hit submit. You can also check the allotment status on the online portal of Link Intime India Private Limited ( The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications, and carries out the allotment process as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch, and uploading of refunds, and attending to all investor-related queries after the issue is completed. 1) Go to the web portal of Link Intime India Private Limited 2) Select the IPO in dropbox whose name w...

Tamilnad Mercantile Bank IPO: All of the six foreign shareholders -- Robert & Ardis James Company (4.95 per cent), Starship Equity Holdings (4.72 per cent), Subcontinental Equities (4.64 per cent), East River Holdings (3.72 per cent), Swiss Re Investors Mauritius (1.90 per cent) and FI Invest Mauritius (1.48 per cent) -- would have to retain their holdings for the next six months after the IPO. Tamilnad Mercantile Bank doesn't come under the SEBI norm of 25 per cent minimum public shareholding as it is already completely owned by shareholders. All of the six foreign shareholders -- Robert & Ardis James Company (4.95 per cent), Starship Equity Holdings (4.72 per cent), Subcontinental Equities (4.64 per cent), East River Holdings (3.72 per cent), Swiss Re Investors Mauritius (1.90 per cent) and FI Invest Mauritius (1.48 per cent) -- would have to retain their holdings for the next six months after the IPO. The equity shares are expected to list on September 15. Grey market premium: Market participants said the Tamilnad Mercantile Bank IPO grey market premium (GMP) today is at Rs 25. It implies that the grey market is expecting the lender to list around Rs 550 (Rs 525 + Rs 25), which is around 4.76 per cent higher from the IPO's upper band price of Rs 525 per equity share. Brokerages' take on the IPO: Hem Securities said, "The bank is bringing the issue at price-to-book multiple of 1.40 times on FY22 PAT basis. Although, the bank has a strong legacy, loyal customer base and h...

The initial public offering (IPO) of Tamilnad Mercantile Bank (TMB), one of the oldest private sector banks in India, is set to open on September 5. The issue is generating positive responses from analysts and investors. Most analysts said retail investors should apply for the IPO citing consistent financial performance and healthy asset quality. At the same time, a few are cautious in the short term as they see a couple of risks. “At the upper end of the price band, the bank is valued at 1.35 times price to book value (after issue) as on 31 March 2022 which looks reasonable. However, a change in management and pending legal proceedings in relation to shareholding remain risks,” said Kajal Gandhi at ICICIdirect. The broker said investors can apply for the IPO with a long term view. As much as 37.7 percent of equity share capital is subject to legal proceedings, which ICICI Securities said is a key risk. Besides, significant regional concentration in southern India also poses a risk. The company has set a price band for the IPO at Rs 500-525 a share. The offering is a fresh issue of shares worth Rs 832 crore. An investor can apply for a minimum 28 shares and in multiples thereof. Meanwhile, the firm issued 71,28,000 shares at Rs 510 apiece to raise Rs 363.53 crore from 10 anchor investors ahead of its IPO. Anchors are Nomura, Societe Generale, Max Life Insurance, Kotak Mahindra Life Insurance, Bajaj Allianz Life Insurance, Cholamandalam General Insurance, Authum Investment,...

The three-day initial public offering (IPO) of Tamilnad Mercantile Bank will open for public subscription next week on Monday, September 5, 2022 and conclude on Wednesday, September 7. The Tuticorin-based private sector lender has fixed the price band at ₹500-525 per share for its ₹832-crore initial share offer. The company on Friday said it has mobilised a little over ₹363 crore from anchor investors ahead of its issue. It has decided to allocate 71.28 lakh equity shares to anchor investors at ₹510 apiece, aggregating the transaction size to ₹363.5 crore, according to a circular uploaded on the BSE website. The Its managing director and chief executive KV Rama Muthry said with this, the bank does not come under the Sebi norm of 25% minimum public shareholding as it is already fully owned by shareholders. As per market observers, ₹34 in the grey market today. The shares of the company are expected to list on stock exchanges BSE and NSE on Thursday, September 15, 2022. Axis Capital, Motilal Oswal Investment Advisors and SBI Capital Markets are the book-running lead managers and Link Intime India Private Ltd is the registrar for the IPO. 75% of the issue has been reserved for qualified institutional investors, 15% for the non-institutional investors and the remaining 10% for retail investors. Tamilnad Mercantile Bank (TMB) is one of the oldest private sector banks with a history of 101 years, having been established in 1921 as Nadar Bank. The bank offers a wide range of serv...

The initial public offering (IPO) of Tamilnad Mercantile Bank got subscribed 1.53 times on Tuesday, day two of the subscription, after getting fully subscribed in early trade. The three-day issue will conclude on Wednesday. The price band is ₹500-525 per share. The The Tuticorin-based private sector lender on Friday said it has mobilised a little over ₹363 crore from anchor investors ahead of its share sale. ₹831.6 crore through its initial share sale. The bank proposes to utilise the proceeds from the issue for augmenting its Tier–I capital base to meet future capital requirements. Tamilnad Mercantile Bank (TMB) is one of the oldest private sector banks with a history of 101 years, having been established in 1921 as Nadar Bank. The bank offers a wide range of services primarily to micro, small and medium enterprises, agricultural and retail customers. Yes Securities has given a Subscribe rating to the “Company’s consolidated revenue growth of 5% over FY20-22 but interest/discount on advances was of 4.1% over FY20-22. It It will be challenging for the bank to grow its business in Tamil Naidu as well as new geographics. Looking at the current valuation of price to book of 1.4 times we believe that near term positive has been priced in the IPO price. Thus, we have a NEUTRAL rating on the issue," said brokerage Angel One.

Tamilnad Mercantile Bank The IPO was launched with a price band of Rs 500-525 a share. Tamilnad Mercantile Bank IPO: Subscription Status The Qualified Institutional Buyers (QIBs) category was subscribed 1.62 times. The Non-Institutional Investors (NIIs) category was subscribed 2.94 times. The Retail Individual Investors (RIIs) category was subscribed 6.48 times. Tamilnad Mercantile Bank IPO: Share Allotment Process The finalization of basis of share allotment of Tamilnad Mercantile Bank IPO is expected to take place next week on Monday, September 12, 2022 and if allotted, then the credit of shares to demat account of bidders will be done on Wednesday, September 14, 2022. The registrar for this IPO is Link Intime Tamilnad Mercantile Bank IPO: Valuation “At the current valuation, TMB is seen demanding a richer valuation compared to its peers given that TMB is outperforming its peers on the majority of financial parameters," Narendra Solanki, Head–Equity Research, Anand Rathi Shares & Stock Brokers, said. Considering its consistency in performance and the healthy return ratio, the brokerage had recommended a “subscribe- long term” rating to the IPO. Overall market sentiments also affected the premium to some extent, the experts feel. CSB Bank, DCB Bank, Karur Vysya Bank, and Karnataka Bank were available at P/E of 3.4-8.0 their FY22 earnings. In the last couple of weeks, the equity market has corrected and remained range-bound after hitting psychological levels — 60,000 on th...

The Rs 831.6 crore initial public offering (IPO) of • When will Tamilnad Mercantile Bank's IPO will open for subscription on Monday, September 5. • When will the IPO of Tamilnad Mercantile Bank close for subscription? The IPO of Tamilnad Mercantile Bank will close for subscription on Wednesday, September 7. • What is the price band for Tamilnad Mercantile Bank's IPO? The price band for Tamilnad Mercantile Bank's IPO has been fixed at Rs 500-525 per share. • What is the issue size of Tamilnad Mercantile Bank's IPO? The IPO is entirely an fresh issue of up to 1,58,40,000 equity shares with a face value of Rs 10 each. At the upper range of the price band, the company will raise Rs 831.60 crore via initial stake sale. • What Tamilnad Mercantile Bank will do with the net proceeds from the issue? The Thoothukudi (formerly Tuticorin)-based private lender plans to utilise the net proceeds from the issue towards augmenting its tier–I capital base to meet its capital requirements and get the benefits of listing on the stock exchanges. • What is the lot size for Tamilnad Mercantile Bank's IPO? Investors can subscribe to the Tamilnad Mercantile Bank's IPO by betting for a lot of 28 shares or in multiples thereof. At the upper range of price band, one lot of the IPO is worth Rs 14,700. A retail bidder can bid for 13 lots at maximum. • How was Tamilnad Mercantile Bank's performance last year? For the year ended on March 31, 2022, the company had reported total revenue of Rs 4,656.44 cro...

Tamilnad Mercantile Bank The IPO was launched with a price band of Rs 500-525 a share. Tamilnad Mercantile Bank IPO: Subscription Status The Qualified Institutional Buyers (QIBs) category was subscribed 1.62 times. The Non-Institutional Investors (NIIs) category was subscribed 2.94 times. The Retail Individual Investors (RIIs) category was subscribed 6.48 times. Tamilnad Mercantile Bank IPO: Share Allotment Process The finalization of basis of share allotment of Tamilnad Mercantile Bank IPO is expected to take place next week on Monday, September 12, 2022 and if allotted, then the credit of shares to demat account of bidders will be done on Wednesday, September 14, 2022. The registrar for this IPO is Link Intime Tamilnad Mercantile Bank IPO: Valuation “At the current valuation, TMB is seen demanding a richer valuation compared to its peers given that TMB is outperforming its peers on the majority of financial parameters," Narendra Solanki, Head–Equity Research, Anand Rathi Shares & Stock Brokers, said. Considering its consistency in performance and the healthy return ratio, the brokerage had recommended a “subscribe- long term” rating to the IPO. Overall market sentiments also affected the premium to some extent, the experts feel. CSB Bank, DCB Bank, Karur Vysya Bank, and Karnataka Bank were available at P/E of 3.4-8.0 their FY22 earnings. In the last couple of weeks, the equity market has corrected and remained range-bound after hitting psychological levels — 60,000 on th...

The initial public offering (IPO) of Tamilnad Mercantile Bank (TMB), one of the oldest private sector banks in India, is set to open on September 5. The issue is generating positive responses from analysts and investors. Most analysts said retail investors should apply for the IPO citing consistent financial performance and healthy asset quality. At the same time, a few are cautious in the short term as they see a couple of risks. “At the upper end of the price band, the bank is valued at 1.35 times price to book value (after issue) as on 31 March 2022 which looks reasonable. However, a change in management and pending legal proceedings in relation to shareholding remain risks,” said Kajal Gandhi at ICICIdirect. The broker said investors can apply for the IPO with a long term view. As much as 37.7 percent of equity share capital is subject to legal proceedings, which ICICI Securities said is a key risk. Besides, significant regional concentration in southern India also poses a risk. The company has set a price band for the IPO at Rs 500-525 a share. The offering is a fresh issue of shares worth Rs 832 crore. An investor can apply for a minimum 28 shares and in multiples thereof. Meanwhile, the firm issued 71,28,000 shares at Rs 510 apiece to raise Rs 363.53 crore from 10 anchor investors ahead of its IPO. Anchors are Nomura, Societe Generale, Max Life Insurance, Kotak Mahindra Life Insurance, Bajaj Allianz Life Insurance, Cholamandalam General Insurance, Authum Investment,...

The three-day initial public offering (IPO) of Tamilnad Mercantile Bank will open for public subscription next week on Monday, September 5, 2022 and conclude on Wednesday, September 7. The Tuticorin-based private sector lender has fixed the price band at ₹500-525 per share for its ₹832-crore initial share offer. The company on Friday said it has mobilised a little over ₹363 crore from anchor investors ahead of its issue. It has decided to allocate 71.28 lakh equity shares to anchor investors at ₹510 apiece, aggregating the transaction size to ₹363.5 crore, according to a circular uploaded on the BSE website. The Its managing director and chief executive KV Rama Muthry said with this, the bank does not come under the Sebi norm of 25% minimum public shareholding as it is already fully owned by shareholders. As per market observers, ₹34 in the grey market today. The shares of the company are expected to list on stock exchanges BSE and NSE on Thursday, September 15, 2022. Axis Capital, Motilal Oswal Investment Advisors and SBI Capital Markets are the book-running lead managers and Link Intime India Private Ltd is the registrar for the IPO. 75% of the issue has been reserved for qualified institutional investors, 15% for the non-institutional investors and the remaining 10% for retail investors. Tamilnad Mercantile Bank (TMB) is one of the oldest private sector banks with a history of 101 years, having been established in 1921 as Nadar Bank. The bank offers a wide range of serv...