Tamilnad Mercantile Bank Ltd. | Globe Capital
Tamilnad Mercantile Bank Ltd.
Closed
Price Band
Rs. 500-525
IPO Issue Period
Sep 05, 2022 to Sep 07, 2022
Issue Size
Rs. 831.6Cr.
Face value
Rs. 10 /-
Fresh issue
NIL
Offer for sale
831.6 Cr.
Minimum Shares for Retail
28 shares
Listing on
NSE, BSE
Issue Type
Book Building
Registrar to the Issue
Link Intime India Private Ltd
Tentative Listing Date
Sep 15, 2022
QIB
Not More than 75% of the offer
NII
Not less than 15% of the offer
Retail
Not less than 10% of the offer

Axis Capital Limited (Past IPO Performance)
Motilal Oswal Investment Advisors Pvt Ltd (Past IPO Performance)
SBI Capital Markets Limited (Past IPO Performance)

Incorporated in 1921, Tamilnad Mercantile Bank (TMB) is one of the oldest private sector banks in India. It offers an array of banking and financial services to retail customers, micro, small, and medium enterprises (MSMEs), and more. TMB has a strong portfolio of advances and deposits from a diversified customer base including retail customers, agricultural customers, and MSMEs.

As of March 31, 2022, the bank has a strong branch network of 509 branches and a total customer base of 5.08 million. TMB has a significant market presence in the state of Tamil Nadu with 369 branches, and is also present in 15 other states and 4 union territories of India.

For year/ period ended ( in Cr.)

H1FY22 FY21 FY20
Total Revenue
Profit After Tax
EPS
OPM (%)
PATM (%)

 

  • Long-term track record with almost 100 years of history.
  • Strong presence in Tamil Nadu and consistent focus to expand presence in strategic regions.
  • Diversified and loyal customer base i.e., retail, MSMEs, and agricultural.
  • Consistently growing customer deposit base with a focus on low-cost retail CASA.
  • Proven financial performance track record.
  1. To augment tier-I capital base to meet future capital requirements.
  2. Meet offer issue expenses.
  3. To receive the benefits of listing the shares on the stock exchanges.
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