Tamilnad Mercantile Bank Limited IPO
Tamilnad Mercantile Bank Limited was a mainboard IPO in the Private Sector Bank sector, offered at ₹500–₹525 per share to raise ₹808 crore. The issue was subscribed 2.86× overall (QIBs 1.62×, NIIs 2.94×, retail 6.48×). It listed on 15 Sep 2022 at ₹495 and closed its first day at ₹510, a listing loss of -0.1% versus the ₹510 issue price. It now trades around ₹801 (+57.1% versus the issue price).
Frequently asked questions
- How many times was the Tamilnad Mercantile Bank Limited IPO subscribed?
- The Tamilnad Mercantile Bank Limited IPO was subscribed 2.86× overall — 1.62× in the QIB category, 2.94× among non-institutional investors, 6.48× in retail.
- What were the Tamilnad Mercantile Bank Limited IPO listing gains?
- Tamilnad Mercantile Bank Limited listed on 15 Sep 2022 at ₹495, closing its first day at ₹510 — a listing loss of -0.1% versus the ₹510 issue price.
- What were the retail allotment odds for the Tamilnad Mercantile Bank Limited IPO?
- Retail was subscribed 6.48×, so a single-lot application had roughly a 15.4% chance of allotment (about 1 in 6), and allotment was finalised on 9 Sep 2022.
- What was the price band and lot size of the Tamilnad Mercantile Bank Limited IPO?
- The price band was ₹500–₹525 per share, with a minimum lot of 28 shares (₹14,700 at the upper band).
- Who were the registrar and lead manager for the Tamilnad Mercantile Bank Limited IPO?
- Link Intime India Private Limited was the registrar, and Axis Capital was the book-running lead manager.