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

Tamilnad Mercantile Bank Ltd. 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

₹ 443.65

Current Return

-13.01%

Tamilnad Mercantile Bank Ltd. News

Tamilnad Mercantile Bank to open new branch in Tamilnadu11 Nov, 5:20PM Tamilnad Mercantile - Quaterly Results28 Oct, 5:24PM Tamilnad Mercantile - Quaterly Results28 Oct, 5:24PM Tamilnad Mercantile - Quaterly Results28 Oct, 5:24PM Tamilnad Mercantile Bank informs about updates25 Sep, 4:57PM Tamilnad Mercantile Bank informs about loss of share certificate13 Sep, 5:06PM Tamilnad Mercantile Bank informs about joining of MD & CEO29 Aug, 5:13PM Tamilnad Mercantile Bank’s net profit rises 10% to Rs 287.29 in Q1FY253 Aug, 12:03PM Tamilnad Mercantile - Quaterly Results2 Aug, 4:50PM Tamilnad Mercantile - Quaterly Results2 Aug, 4:50PM Tamilnad Mercantile - Quaterly Results2 Aug, 4:50PM Tamilnad Mercantile Bank informs about loss of share certificates24 Jul, 2:16PM Tamilnad Mercantile Bank informs about change in directorate9 Jul, 5:02PM Tamilnad Mercantile Bank informs about opening of new branch28 Jun, 4:37PM Tamilnad Mercantile Bank opening new branch in Tamilnadu26 Jun, 10:58AM Tamilnad Mercantile Bank opening new branch in Telangana21 Jun, 11:42AM 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

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

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.

 

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 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Net Sales 3466.11 3609.05 3833.86 4081.04 4847.91
Total Expenditure 3407.64 3455.04 3521.51 3316.51 4099.27
Operating Profit 58.48 154.01 312.35 764.53 748.64
Other Income 526.42 644.35 812.26 629.11 644.95
Interest 2146.59 2071.52 2018.63 1986.92 2697.02
Depreciation 30.08 28.56 33.19 53.92 75.17
Exceptional Items 0 0 0 0 0
Profit Before Tax 584.89 798.36 1124.61 1393.64 1393.58
Provision for Tax 177.2 195.03 302.7 364.38 321.55
Net Profit 407.69 603.33 821.91 1029.26 1072.03
Adjusted EPS (Rs.) 2.86 4.23 5.77 6.5 6.77

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity and Liabilities
Share Capital 142.51 142.51 142.51 158.35 158.35
Total Reserves 3837.13 4437.47 5193.19 6769.99 7762.85
Borrowings 0 0 0 0 0
Other N/C liabilities 0 0 0 0 0
Current liabilities 0 0 0 0 0
Total Liabilities 42758.8 47527.17 52858.49 57895.37 61552.46
Assets
Net Block 128.45 137.18 210.84 245.65 270.98
Capital WIP 0 0 0 0 0
Intangible WIP 0 0 0 0 0
Investments 9467.33 11703.21 13242.37 14156.04 15262.6
Loans & Advances 0 0 0 0 0
Other N/C Assets 33163.01 35686.78 39405.28 43493.68 46018.88
Current Assets 0 0 0 0 0
Total Assets 42758.8 47527.17 52858.49 57895.37 61552.46
* Other Non-current Liabilities include Net deferred Liabilities

Quarterly Result (All Figures in Cr.)

PARTICULARS Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Other Income 156.06 157.98 163.9 233.72 227.47
Profit Before Tax 341.83 367.83 343.01 383.4 400.27
Tax 68.32 83.6 89.95 96.11 97.09
Profit After Tax 273.51 284.23 253.06 287.29 303.18
Adjusted EPS (Rs) 17.27 17.95 15.98 18.14 19.15

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Profit from operations 407.69 603.33 821.91 1029.26 1072.03
Adjustment 617.44 627.28 738.03 597.37 405.54
Changes in Assets & Liabilities -457.78 -1900.98 -234.93 -2534.43 -1773.11
Tax Paid 0 0 0 -362 -315
Operating Cash Flow 567.35 -670.36 1325.01 -1269.8 -610.54
Investing Cash Flow -20.18 -37.11 -106.83 -88.6 -100.3
Financing Cash Flow 269.02 -324 -71.26 1088.38 696.98
Net Cash Flow 816.19 -1031.47 1146.93 -270.02 -13.86
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