Ticker > IPO > New Listed IPO > Tamilnad Mercantile Bank Ltd.

Tamilnad Mercantile Bank Ltd. IPO

The company is among one of the oldest and leading old private sector banks in India with a history of almost 100 years. It offers a wide range of banking and financial services primarily to micro, small and medium enterprises, agricultural and retail customers.

RHP
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DRHP
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Open Date

2022-09-05

Close Date

2022-09-07

IPO Details

Check out the issue details for Tamilnad Mercantile Bank Ltd. IPO as disclosed in SEBI.

IPO Price

₹ 510

Price Band

₹ 500 - 525

Issue Size

831.6 Cr.

Issue Type

Book Built

Open

2022-09-05

Close

2022-09-07

Listingprice

₹ 495

ListingGain

-2.94%

Listing Date

2022-09-15

CMP

₹ 491.3

Current Return

-3.67%

News

Tamilnad Mercantile Bank reports net profit of Rs 253 crore in Q423 Apr, 12:15PM Tamilnad Mercantile - Quaterly Results22 Apr, 4:17PM Tamilnad Mercantile - Quaterly Results22 Apr, 4:17PM Tamilnad Mercantile - Quaterly Results22 Apr, 4:17PM RBI imposes monetary penalty on Tamilnad Mercantile Bank 20 Mar, 12:21PM Tamilnad Mercantile informs about resignation of director9 Mar, 11:30AM Tamilnad Mercantile Bank to open new branch in Tamilnadu 17 Feb, 1:00PM Tamilnad Mercantile Bank informs about press release22 Jan, 5:02PM Tamilnad Mercantile Bank informs about analyst presentation22 Jan, 4:58PM Tamilnad Mercantile - Quaterly Results22 Jan, 1:45PM Tamilnad Mercantile - Quaterly Results22 Jan, 1:45PM Tamilnad Mercantile - Quaterly Results22 Jan, 1:45PM Tamilnad Mercantile Bank informs about disclosure18 Nov, 2:03PM Tamilnad Mercantile Bank informs about opening of new branches9 Nov, 3:27PM Tamilnad Mercantile Bank to open two branches in Tamilnadu9 Nov, 12:28PM Tamilnad Mercantile - Quaterly Results27 Oct, 12:00PM Tamilnad Mercantile - Quaterly Results27 Oct, 12:00PM Tamilnad Mercantile Bank to open two new branches 19 Oct, 11:08AM Tamilnad Mercantile Bank opens new branch in Tamil Nadu29 Sep, 3:08PM Tamilnad Mercantile Bank informs about annual report11 Sep, 1:02PM

Company Financials

You can get the following financial statements of Tamilnad Mercantile Bank Ltd. as of now.

Exchange

NSE: TMB BSE: 543596

  Profit Loss
  Balance Sheet
  Quarterly
  Shareholding
  Cash Flow

Subscription Details

The details about the Tamilnad Mercantile Bank IPO is as:

  • The issue size of the IPO is 831.6 Cr.
  • The price band for Tamilnad Mercantile Bank IPO is Rs 500 to Rs 525.
  • The shares of Tamilnad Mercantile Bank IPO will list on 15th Sept 2022.
  • The latest tentative GMP of Tamilnad Mercantile Bank IPO is Rs 15.
  • The shares of Tamilnad Mercantile Bank IPO is subscribed 2.86 Times in total.

 

Tamilnad Mercantile Bank IPO Valuation

The approx valuation of Tamilnad Mercantile Bank IPO based on its price band and RHP/DRHP (prospectus) is:

Particulars Value
Upper Price Band Rs 525
Existing Shares (Qty) 14.25 Cr
Fresh Issue 831.6 Cr
Market Cap 8312.85 Cr
EPS Rs 57.67
PE Ratio 9.10x
Industry PE 11.85x

 

Tamilnad Mercantile Bank IPO Issue Size

Tamilnad Mercantile Bank IPO issue size is 831.6 Cr.

Issue Amount
Fresh Issue 831.6 Cr
Offer For Sale 0 Cr

 

Tamilnad Mercantile Bank IPO Market Lot

An Individual can apply for a minimum 1 lot of 28 shares and a maximum of 13 lots of 364 shares. Find the details below:

Application Lot Shares Amount
 Minimum  1 28 Rs 14,700
 Maximum 13 364 Rs 1,91,100

 

Tamilnad Mercantile Bank Ltd IPO Offer

The shares of Tamilnad Mercantile Bank IPO is subscribed 2.86 Times in total. The category-wise shares subscribed are as follows:

Category % Offered % Subscribed
Qualified Institutional Minimum 75% 1.62 Times
Non-Institutional Maximum 15% 2.94 Times
Retail Individual Maximum 10% 6.48 Times
Total   2.86 Times

 

Tamilnad Mercantile Bank IPO Grey Market Premium

As on GMP (Tentative)
9 Sept 2022 Rs 5
12 Sept 2022 Rs 15
13 Sept 2022 Rs 15
14 Sept 2022 Rs 15

It is purely for informational purposes and invest in an IPO after thoroughly researching on your own.

 

Allotment Details

Find below the dates for Tamilnad Mercantile Bank:

Schedule Date
Basis of Allotment 12 Sept 2022
Refunds 13 Sept 2022
Credit to Demat Account 14 Sept 2022
IPO Listing Date 15 Sept 2022

Check allotment status

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Other Income 414.34 526.42 644.35 812.26 629.11
Profit Before Tax 396.5 584.89 798.36 1124.61 1393.64
Net Profit 258.58 407.69 603.33 821.91 1029.26
Adjusted EPS (Rs.) 18.14 28.61 42.34 57.67 65
Net Sales 3224.46 3466.11 3609.05 3833.86 4081.04

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Equity and Liabilities
Share Capital 142.51 142.51 142.51 142.51 158.35
Total Reserves 3475.74 3837.13 4437.47 5193.19 6769.99
Borrowings 0 324 0 0 525
Total Liabilities 40532.8 42758.8 47527.17 52858.49 57895.37
Investments 9106.59 9467.33 11703.21 13242.37 14156.04
Net Block 138.38 128.45 137.18 210.84 245.65
Assets
Total Assets 40532.8 42758.8 47527.17 52858.49 57895.37
Current Assets 0 0 0 0 0
Capital WIP 0 0 0 0 0
* Other Non-current Liabilities include Net deferred Liabilities

Quarterly Result (All Figures in Cr.)

PARTICULARS Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Interest Earned 1070.08 1155.89 1209.16 1229.15 1253.71
Other Income 183.93 167 156.06 157.98 163.9
Interest Expended 542.8 641.81 676.43 692.12 686.66
Operating Expenses 306.8 301.17 323.67 324.81 364.4
Total Provisions 57.18 39 23.29 2.37 23.54
Profit Before Tax 347.23 340.91 341.83 367.83 343.01
Tax 94.18 79.68 68.32 83.6 89.95
Net Profit 253.05 261.23 273.51 284.23 253.06
Net NPA % 0.62 0.66 0.99 0.98 0.85
Gross NPA % 1.39 1.56 1.7 1.69 1.44
Return on Assets % 1.93 1.85 1.89 1.93 1.7
NPM % 23.65 22.6 22.62 23.12 20.18
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