Tamilnad Mercantile Bank IPO Allotment Status, Date, GMP Today

We will discuss about the Tamilnad Mercantile Bank IPO GMP today in this article, as well as share price and allotment. One of India’s biggest financial institutions is the Tamilnad Mercantile Bank Limited. With a history of over a century, Tamilnad Mercantile Bank LTD is one of India’s most geriatric and prestigious private sector banks. It also has a long history. November 2023 is set aside for the initial public offering of shares in Tamilnad Mercantile Bank.

Tamilnad Mercantile Bank IPO

One of the oldest and most prominent ancient private sector banks in India, Tamilnad Mercantile Bank Limited has a history of about 100 years and is one of the oldest banks in India. They provide a wide variety of banking and financial services, with the primary target market being micro, small, and medium companies (MSME), agricultural customers, and retail clients (RAM).

As of the 31st of March, 2023, Tamilnad Mercantile Bank has around 5.08 million clients overall. Of them, 4.05 million (or 79.78%) had been with the bank for additionally than five years and retained made contributions to the bank’s deposit and advance portfolios totaling a combined total of Rs. 350,142.39 million (or 77.93%) and Rs. 219,022.26 million (or 64.90%), respectively. These formations are more elevated than the average for Peers, which was 0.80% for Fiscal 2023. At the high end of the price range, the Tamilnad Mercantile Bank public offer would include a new issuance of 1.58 million equity shares, bringing the offering to Rs. 831.6 crores.

Tamilnad Mercantile Bank IPO Allotment Status 2023

Tamilnad Mercantile Bank IPO

The initial public offering (IPO) date for Tamilnad Mercantile Bank is on the 5th of September, and the closing date is on the 7th of September. On the 23rd of September, the Tamilnad Mercantile Bank’s initial public offering (IPO) allocation will be finished, and on the 26th of September, the IPO listing will take place.

 Price Band Announcement:  September 1, 2023
 Anchor Investors Allotment:  September 2, 2023
 Tamilnad Mercantile Bank IPO Open Date:  September 5, 2023
 Tamilnad Mercantile Bank IPO Close Date:  September 7, 2023
 Basis of Allotment:  September 12, 2023
 Refunds:  September 13, 2023
 Credit to Demat Account:  September 14, 2023
 Tamilnad Mercantile Bank IPO Listing Date:  September 15, 2023

Tamilnad Mercantile Bank IPO Date 2023

The आईपीओ has a set date; it will begin on the 5th of September and end on the 7th of September. The Tamilnad Mercantile Bank IPO (TMB) aims to raise approximately Rs. 831.60 crores via a new issuance of Rs. 831.60 crores and an offer for sale of up to [.] of Rs. 10 per share. The retail quota is 10%, followed by QIB at 75% and HNI at 15%.

One of the earlier private sector banks in India is a private bank called Tamilnad Mercantile Bank (TMB). TMB’s headquarters are in Thoothukudi, Tamil Nadu, India, and it was founded in 1921. With more than 100 years of operating experience, the bank has a proven record.

Retailers, microbusinesses, small and medium-sized companies, and MSMEs can use the bank’s banking and financial services. As of March 2023, they had a solid client base of more than 5 million people and a network of more than 500 branches. They are present in 15 states and four union territories and have over 350 units in the state of Tamil Nadu. The subscription status and the allotment status for the Tamilnad Mercantile Bank’s initial public offering can be seen on their respective websites.

TMB IPO GMP Today

One of the oldest and top ancient private sector banks, Tamilnad Mercantile Bank, has been in operation for over one hundred years and has its headquarters in Thoothukudi in the Indian state of Tamil Nadu. The financial institution operates a network of 509 physical locations, 12 administrative offices, 1,141 automated teller machines (ATMs), 282 cash recycler machines (CRMs), and 101 electronic lobbies.

There are a total of 509 branches, of which 106 are located in rural regions, 76 are in metropolitan areas, 80 are in urban areas, 247 are in semi-urban areas, and the remaining 247 are in semi-rural areas. The bank has a substantial company in southern India and is expanding its branch network. Currently, the GMP for the first public offering of Tamilnad Mercantile Bank is Rs. NA.

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