What is IPO Grey Market Premium (GMP)?

IPO Grey Market Premium (GMP) is an unofficial, over-the-counter premium over the issue price that dealers and investors pay prior to official listing on NSE/BSE.

How is estimated IPO listing price determined?

Estimated Listing Price = Cut-off / Issue Price + Current Grey Market Premium (GMP). For example, an issue price of ₹100 with ₹40 GMP yields an estimated listing price of ₹140 (+40%).

What is Kostak rate in an IPO?

Kostak rate is the fixed profit earned by selling an IPO application before allotment, irrespective of whether the application is allotted shares or not.

What is Subject to Sauda in IPO trading?

Subject to Sauda is an informal contract where payment is made only if the seller receives share allotment in the IPO.

Is IPO Grey Market Premium (GMP) regulated by SEBI?

No. Grey Market transactions are non-exchange over-the-counter commitments and are not officially regulated or endorsed by SEBI. Investors should treat GMP as an informal sentiment indicator.

What is the estimated listing price for Tamilnad Mercantile Bank Limited IPO?

Based on the upper price band of ₹525 and current GMP of ₹16, the estimated listing price is ₹541 (approx. 3.0% gain).

What is the expected profit per lot for Tamilnad Mercantile Bank Limited IPO?

With a lot size of 28 shares and current GMP of ₹16, expected profit per retail application lot is approximately ₹448.

IPO GreyPremiumLIVE

Grey Market Intelligence

Tamilnad Mercantile Bank Limited

ListedMainboard

Financial 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

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

Overview Live GMP Live Subscription Allotment Status

Live Grey Market Premium

Tamilnad Mercantile Bank Limited GMP Today

Last updated: 19 Oct 2026

Current Premium

₹16+3.0%

Issue Price (Upper)

₹525

Band: ₹525

Estimated Listing Price

₹541

Upper price + GMP

Lot Size

28 shares

Min investment ₹14,700

Date	GMP (₹)	GMP %	Est. Listing
31 Oct 2026	+₹16	3.0%	₹541
30 Oct 2026	+₹16	3.0%	₹541
29 Oct 2026	+₹14	2.7%	₹539

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 & Pricing Context:

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.

Basis of Allotment & Listing Timeline:

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 is Tamilnad Mercantile Bank Limited IPO GMP today?

The latest grey market premium for Tamilnad Mercantile Bank Limited IPO is ₹16, which indicates an expected listing price of ₹541.

What does Kostak Rate and Sauda mean in IPO GMP?

Kostak rate is the profit amount an investor earns by selling their entire IPO application in the grey market before allotment is finalized.

Is Grey Market Premium officially recognized?

No. GMP is an unofficial indicator discovered between dealers outside of SEBI-regulated exchanges. Actual listing price is determined by demand-supply discovery on NSE/BSE during the pre-open auction.