Tamilnad Mercantile Bank IPO
Tamilnad
Mercantile Bank (TMB) IPO is opening on Monday i.e. 5th September.
The IPO size is worth Rs. 831.6 crores. The Tuticorin based bank is one of the
oldest private sector lenders in the country. This will be the third IPO to hit
Dalal Street in a span of three weeks.
Tamilnad Mercantile Bank IPO Date
The
TMB IPO will open on 5th September and close on 7th
September. The tentative listing date for TMB IPO is 15th September.
TMB IPO Price Band
The
price band for TMB IPO is set at Rs. 500 – Rs. 525 per share. It is an entirely
fresh issue of shares and the proceeds of IPO shall go to the company.
TMB IPO Lot Size
The
bidding for TMB IPO shall be in multiples of 28 shares per lot. The cost per
lot shall be in the range of Rs. 14,000 – Rs. 14,700.
TMB IPO Issue Size
The
public offer by Tamilnad Mercantile Bank issue size comprises of 1.58 crore of
fresh equity shares. At the upper end of its price band, the issue size will
aggregate to 831.6 crores.
TMB IPO Fund Utilisation
The
private lender plans to utilize the IPO proceeds for augmenting its tier- I
capital base for meeting its capital requirements
TMB Financial Details
|
Financial
Year Ended
|
Revenue
(in Crores)
|
Profit
for the period (in Crores)
|
EPS
(in Rs.)
|
|
March
2020
|
3,992.52
|
464.89
|
28.61
|
|
March
2021
|
4253.40
|
654.04
|
42.34
|
|
March
2022
|
4,656.44
|
901.90
|
57.67
|
|
About the Company
Tamilnad
Mercantile Bank was established in 1921 as Nadar Bank. It has a history of 101
years of being in the business of lending. It offers services to a wide range of
clients that include retail customers, SME enterprises, agricultural
businesses, etc. The bank currently has 509 branches in India, out of which 369
are in the home state of Tamil Nadu. Almost 70% of the business comes from
Tamil Nadu and the remaining 30% from other states and Union Territories. The
bank has a customer base of approximately 5.08 million as of March 31, 2022.
Almost 80% or 4.05 million of the total customers have been associated with the
bank for a period of more than 5 years.
Apply Tamilnad Mercantile Bank IPO Online : https://ipo.indiratrade.com:83/