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 current subscription status of Tamilnad Mercantile Bank Limited IPO?

Tamilnad Mercantile Bank Limited IPO has received a total subscription of 2.86 times overall.

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 Subscription Status Allotment Status Filing Documents

Overall Subscription

2.86x

Total Demand

QIB Multiplier

1.62x

Institutions & Funds

NII / HNI

2.94x

High Net-Worth

Retail (RII)

6.48x

Individual Bidders

Category-Wise Subscription Breakup

Live bidding breakdown by institutional, non-institutional, and retail investors

Total 2.86x

Category	Shares Offered	Shares Applied / Bid	Times Subscribed
QIB	4,752,000	7,686,392	1.62x
NIB	2,376,000	6,989,920	2.94x
HNIs(10L +)	1,584,000	4,909,940	3.10x
HNIs (2-10L)	792,000	2,079,980	2.63x
RETAIL	1,584,000	10,262,924	6.48x
Total	11,088,000	31,929,156	2.86x

Application-Wise Breakup

Total unique applications received across retail and HNI tranches

Apps 6.35x

Category	Applications Reserved	Applications Received	Times Subscribed
Retail (RII)	192,343	1,246,383	6.48x
HNIs (10L +)	1,230	3,616	2.94x
HNIs (2-10L)	5,888	17,311	2.94x
Total Applications	199,461	1,267,310	6.35x

Day-Wise Subscription Progress

Track continuous institutional and retail bidding order books for all active issues on the ipo live subscription feed.

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.

Bidding & Quota Instructions:

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.

Allotment Reconciliation Schedule:

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 (GMP) for Tamilnad Mercantile Bank Limited IPO is ₹16 per equity share. Based on the upper price band of ₹525 to ₹525 per equity share, the estimated listing price is ₹541 (+3.0% expected listing 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, the expected profit per application lot is approx ₹448 (+3.0% gain). Minimum application cost is approx ₹14,700.

What is the issue size and price band for Tamilnad Mercantile Bank Limited IPO?

The Tamilnad Mercantile Bank Limited IPO aggregate issue size is ₹807.84 Crores with an equity price band set at ₹525 to ₹525 per equity share. The retail lot size is 28 shares requiring a minimum capital outlay of approx. ₹14,700.

How can I check Tamilnad Mercantile Bank Limited IPO live subscription demand?

Live subscription figures are compiled real-time from the NSE and BSE bidding engines. Currently, overall subscription is 2.86x (Retail: 6.48x, QIB: 1.62x, NII: 2.94x). You can track live multiples directly on our dedicated subscription page.

Where and when will Tamilnad Mercantile Bank Limited IPO allotment status be published?

The basis of allotment will be published on the official registrar portal (Link Intime India Private Limited) and the BSE status verification website on or around 2022-09-12. Investors can verify status using PAN card or application number.

When is the listing date for Tamilnad Mercantile Bank Limited IPO?

Tamilnad Mercantile Bank Limited shares are scheduled to list on NSE and BSE on 2022-09-15.