Tamilnad Mercantile Bank IPO: IPO opens on 5th-Sep-2022 and it will close on 7th-Sep-2022 as per the Red Herring Prospectus (RHP). The IPO price band at ₹500-525 per share, issue to open on Monday.
5 – 7 Sep
₹ 832 Cr
Issue Open Date
Issue Close Date
Basis of Allotment Date
* Initiation of Refunds
IPO Listing Date
* Refund is a 7-10 days process. If you don’t get refund then please contact your bank.
About the Tamilnad Mercantile Bank
The history of Tamilnad Mercantile Bank Ltd., the then Nadar Bank Ltd., dates back to 1921. The thought of establishing a bank under the guidance of the able Nadar business community was mooted out in the Anniversary of Nadar Mahajana Sangam held at Tuticorin in 1920. The proposal was effected soon. The bank was registered on May 11, 1921 as “The Nadar Bank Ltd”.
The bank was opened by Shri T.V. Balagurusamy Nadar, the then President of the Nadar Mahajana Sangam and the bank threw open its door to the public on Nov 11, 1921 at 9am in Ana Mavanna Building at South Raja Street, Tuticorin.
Managing Director & CEO
K.V. Rama Moorthy
As on March 31, 2022, Bank had a network of 509 branches, 12 administrative offices, 1,141 ATMs, 282 CRMs, and 101 E-lobbies. Out of these 509 branches, 76 branches are in metropolitan areas, 80 branches are in urban areas, 247 branches are in semi-urban areas, and 106 branches are in rural areas.
- Strong legacy, loyal customer base and focus on improving servicing framework
- Strong presence in Tamil Nadu with focus to increase presence in other strategic regions
- Advances with focus on MSME, agricultural and retail segments
- Consistently growing deposit base with focus on low-cost retail CASA
- Professionally managed Bank with experienced senior management team and board of directors.
Summary of Restated Consolidated Financial Information
For the year/period ended ( Amount in ₹ Crore)
|Profit After Tax||464.89||654.04||901.9|
IPO Date and Price Band
|Issue Open Date||5 Sep 2022|
|Issue Close Date||7 Sep 2022|
|Issue Type||Book Built Issue|
|Face Value||₹ 10 per equity share|
|IPO/Issue Price||₹ 500 to ₹ 525 per equity share|
|Market Lot||28 Shares|
|Min Order Quantity||28 Shares|
|Listing At||BSE, NSE|
IPO Prospectus (RHP)
Tamilnad Mercantile Bank IPO FAQs
Ans. Tamilnad Mercantile Bank is a main-board IPO. The issue is priced at ₹ 500 to ₹ 525 per equity share.
OPEN: 5 Sep 2022 CLOSE: 7 Sep 2022
Q How to apply for Tamilnad Mercantile Bank IPO through Upstox?
Ans. Login to Upstox with the credentials. Select the IPO – Tamilnad Mercantile Bank. Confirm your application. Block funds on your mobile UPI app. Open Demat Account Now With Upstox
Q When the Tamilnad Mercantile Bank IPO will Open?
Ans. The IPO Opens on 7 Sep 2022.
Q When the TMB IPO will Close?
Ans. The IPO will close on 7 Sep 2022
Q What is TMB IPO Price Band?
Ans. The IPO Price Band is ₹ 500 to ₹ 525 per equity share.
Q What is the IPO Allotment Date?
Ans. The TMB IPO allotment date is 14 Sep 2022.
Q What is the IPO Listing Date?
Ans. The IPO Listing Date is 15 Sep 2022.
Q What is the minimum lot size of the IPO?
Ans. The minimum bid is 28 Shares.