Incorporated in 1921, Tamilnad Mercantile Bank (TMB) is one of the oldest private sector banks in India. It offers an array of banking and financial services to retail customers, micro, small, and medium enterprises (MSMEs), and more. TMB has a strong portfolio of advances and deposits from a diversified customer base including retail customers, agricultural customers, and MSMEs.
As of March 31, 2022, the bank has a strong branch network of 509 branches and a total customer base of 5.08 million. TMB has a significant market presence in the state of Tamil Nadu with 369 branches, and is also present in 15 other states and 4 union territories of India.
Tamilnad Mercantile Bank IPO Subscription Status Live
Last Data Updated on 5th September 2022, 3:30 PM (Refresh Page)
| Category | Day 1 | Day 2 | Day 3 |
| QIB | 0.73 | – | – |
| NII (bids above ₹10L) | 0.55 | – | – |
| NII (bids below ₹10L) | 0.27 | – | – |
| Retail | 1.21 | – | – |
| Total | 0.74 | – | – |
Tamilnad Mercantile Bank IPO Dates & Price Band :
| IPO Open: | Sep 5, 2022 |
| IPO Close: | Sep 7, 2022 |
| IPO Size: | ₹792.00 – 831.60 Cr |
| Price Band: | ₹500 to ₹525 per share |
| Listing on: | BSE & NSE |
| Retail Portion: | Not more than 15% of the Net Offer |
| Equity: | 28 Equity Shares |
| Face Value: | ₹10 Per Equity Share |
Tamilnad Mercantile Bank IPO Market Lot:
- Shares: 28 Shares
- Minimum Amount: ₹14,700
- Maximum Amount: ₹191,100
Tamilnad Mercantile Bank IPO Allotment & Listing:
- Basis of Allotment: Sep 12, 2022
- Refunds: Sep 13, 2022
- Credit to Demat accounts: Sep 14, 2022
- Listing: Sep 15, 2022
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