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. Check the below details for TMB IPO GMP.
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.
What is Tamilnad Mercantile Bank IPO GMP?
The Tamilnad Mercantile Bank IPO GMP or Grey Market Premium is Rs 10
What is Tamilnad Mercantile Bank IPO Kostak?
The Tamilnad Mercantile Bank IPO Kostak Price or Rate is Rs 0
What is Tamilnad Mercantile Bank IPO Subject to Sauda?
The Tamilnad Mercantile Bank IPO Subject to Sauda is Rs 0
Tamilnad Mercantile Bank IPO Expected Returns
Tamilnad Mercantile Bank IPO Expected returns is 2%
Tamilnad Mercantile Bank IPO GMP Daily Movements
| Date | GMP | Kostak | Subject to |
| 9 September 2022 | 10 | 0 | 0 |
| 8 September 2022 | 5 | 0 | 0 |
| 7 September 2022 | 15 | 300 | 1500 |
| 6 September 2022 | 15 | 300 | 1500 |
| 5 September 2022 | 35 | 500 | 2500 |
| 4 September 2022 | 35 | 500 | 2500 |
| 3 September 2022 | 35 | 0 | 600 |
| 2 September 2022 | 34 | 0 | 600 |
Tamilnad Mercantile Bank IPO Dates & Price Band :
| IPO Open: | Sep 5, 2022 |
| IPO Close: | Sep 7, 2022 |
| IPO Size: | 28 Shares |
| Price Band: | ₹500 to ₹525 per share |
| Listing on: | BSE & NSE |
| Retail Portion: | Not more than 10% 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: Sept 12, 2022
- Refunds: Sep 13, 2022
- Credit to Demat accounts: Sep 14, 2022
- Listing: Sep 15, 2022
About Tamilnad Mercantile Bank
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.
Strengths
- Long-term track record with almost 100 years of history.
- Strong presence in Tamil Nadu and consistent focus to expand presence in strategic regions.
- Diversified and loyal customer base i.e., retail, MSMEs, and agricultural.
- Consistently growing customer deposit base with a focus on low-cost retail CASA.
- Proven financial performance track record.
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Tamilnad Mercantile Bank IPO Subscription
Tamilnad Mercantile Bank Allotment Status
Tamilnad Mercantile Bank IPO Date
Disclaimer:
– IPO Grey Market Premium (Tamilnad Mercantile Bank IPO GMP) mention is valid for the specific date as mentioned in the header.
– We are not buying and selling IPO forms on IPO Grey Market.
– Kostak Rate is the premium one gets by selling his/her IPO application (in an off-market transaction) to someone else even before allotment or listing of the issue.
– Do not subscribe for IPO by just seeing the premium Price as it may change anytime before listing. Subscribe only considering the Fundamentals of the companies.