Tamilnad Mercantile Bank Limited
ListedMainboardFinancial Services · NSE / BSE
Tamilnad Mercantile Bank (TMB), established in 1921, is one of India’s oldest private sector banks offering a wide range of banking and financial services to retail customers, farmers, and MSMEs. With a strong mix of deposits and loans, the bank serves a diversified customer base. As of March 31, 2022, TMB operates 509 branches and caters to 5.08 million customers, with a major footprint in Tamil Nadu through 369 branches, along with its presence across 15 other states and 4 union territories.
Price Band
₹525
Issue Size
₹808 Cr
Lot Size
28 shares
GMP
₹16
+3.0%
Est. Listing
₹541
at current GMP
Subscribed
2.86x
overall
Open
5 Sep 2022
Close
7 Sep 2022
Allotment
12 Sep 2022
Refund
13 Sep 2022
Demat Credit
14 Sep 2022
Listing
15 Sep 2022
Last updated 12 days ago
Official Registrar Verification
Tamilnad Mercantile Bank Limited Allotment Status
Designated Registrar: Link Intime India Private Limited
Allotment Date
12 Sep 2022
Basis finalization
Refunds Initiate
13 Sep 2022
Mandate release
Demat Credit
14 Sep 2022
Shares in demat
Listing Debut
15 Sep 2022
Trading begins
How to Check Tamilnad Mercantile Bank Limited IPO Allotment Status
- Click the Check on Registrar button above to visit Link Intime India Private Limited's allotment portal.
- Select Tamilnad Mercantile Bank Limited from the dropdown company list.
- Choose your lookup mode: PAN Number, Application Number, or DP Client ID.
- Enter your details accurately and solve the Captcha code.
- Click Submit / Search to view the number of shares applied and allotted to you.
About Tamilnad Mercantile Bank Limited Public Issue & Market Profile
Tamilnad Mercantile Bank Limited is bringing an initial public offering (IPO) in the Financial Services sector with an aggregate issue size of ₹807.84 Crores. The shares are offered at a price band of ₹525 to ₹525 per equity share on NSE and BSE. Currently, market analysts recommend evaluating the company's financial valuation, price-to-earnings (P/E) multiple, and peer comparison prior to submitting bids.
Public Issue & Allotment Procedure:
The public offer consists of a fresh issue and offer-for-sale structured under SEBI regulations. Bidding is open to Qualified Institutional Buyers (QIB), Non-Institutional Bidders (NII/HNI), and Retail Individual Investors (RII). Applications can be submitted online using ASBA or UPI mandate through certified stock brokers and net banking portals.
Official Allotment Timelines & Registrar Guidance:
Following the close of bidding on 2022-09-07, the basis of allotment is scheduled to be finalized on 2022-09-12. Investors can verify their application status online by submitting their PAN card number, Application Number, or DP Client ID on the registrar's official portal (Link Intime India Private Limited) or the BSE allotment checking window.
Frequently Asked Questions
What if my name is not showing on the registrar portal?
Allotment records are updated in batches. If the status is not yet available, please wait a few hours until the basis of allotment is fully finalized.
How will I receive the refund if I don't get allotment?
Since funds are blocked under ASBA/UPI, the bank will automatically release the blocked hold on your funds upon receipt of revocation instructions from the sponsor bank.