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IPO
Tamilnad Mercantile Bank IPO
TM

Tamilnad Mercantile Bank IPO

Tamilnad Mercantile Bank Limited

₹14,000/ 28 shares

Minimum investment

Tamilnad Mercantile Bank IPO Details

Bidding date

05 Sep - 07 Sep 2022

Price range

—

Minimum quantity

28

Minimum investment

₹14,000

Issue size

—

IPO doc (link)

RHP docsExternal Link

Listing exchange

NSE/BSE

Tamilnad Mercantile Bank IPO Dates & Timeline

05 Sep, 2022
Opening date
07 Sep, 2022
Closing date
08 Sep, 2022
Basis of allotment
09 Sep, 2022
Initiation of refunds
09 Sep, 2022
Credit of shares
12 Sep, 2022
Listing date

About Tamilnad Mercantile Bank IPO: Company Overview

Tamilnad Mercantile Bank (TMB) is a private bank and one of the oldest banks in the private sector banks in India. TMB was incorporated in 1921 and headquartered in Thoothukudi, Tamil Nadu, India. The bank has a long-term track record with over 100 yea

Strengths & Risks of Tamilnad Mercantile Bank IPO

Return on Assets: Its Return on Assets stood at 1.3% compared to a median 0.7% for its peers, in FY21

Diversified loan book : Diversified loan book consisting of retail customers, agricultural customers, corporates and MSMEs

Net Non- Performing Assets: Its net non- performing assets (NNPA) have reduced from 2.4% in FY19 to 1.9% in FY21

CASA: Its current account saving account (low cost funds) to total deposit ratio rose to 28.5% in FY21 from 24.6% in FY19.

Net interest margin : Net interest margin, which is an important metric of profitability, increased from 3.6% in FY19 to 3.7% in FY21.

Bank credit to GDP: Tamil Nadu is under-penetrated. Its bank credit to GDP stood at 53% as compared to 89% in case of Maharashtra and 37% for Gujarat

Risks : 37.6% of its paid up equity share capital is subject to outstanding legal proceedings which are pending in various forums.

Petition in the Court: Its former director has filed a petition in the court, alleging mismanagement in the bank, and cited ongoing proceedings against the bank by the Directorate of Enforcement.

Legal Proceedings: Its business, reputation and financial results could be impacted by adverse results in the legal proceedings.

New Branches: Requires permission from the Reserve Bank of India to open new branches

How to Apply for Tamilnad Mercantile Bank IPO: Step-by-Step Guide

  • Research the IPO:Review the prospectus and company details.
  • Open accounts:Ensure you have a demat and trading account.
  • Check dates:Note the IPO opening and closing dates.
  • Apply online:Log in to your brokerage account and complete the IPO application form.
  • Make payment:Pay through your linked bank account.
  • Submit application:Confirm and submit your application.
  • Track status:Monitor the allotment status and check for shares in your demat account upon listing.

FAQs: Tamilnad Mercantile Bank IPO

Ans. Tamilnad Mercantile Bank IPO is a main-board IPO. They are going to raise ?831.60 Crores via IPO. The issue is priced at ?500 to ?525 per equity share. The IPO is to be listed on BSE & NSE.

Ans. The IPO is to open on September 5, 2022, for QIB, NII, and Retail Investors.

Ans. The investors' portion for QIB-75%, NII-15%, and Retail 10%.

Ans. You can Log in to Astha Doc & apply for this IPO.

Ans. Tamilnad Mercantile Bank IPO size is ?831.60 crores.

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