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Tamilnad Mercantile Bank IPO Allotment Date Status Check Online, Tamilnad Mercantile Bank IPO Share Price Listing Date: Tamilnad Mercantile Bank IPO allotment status will be released on September 12. Tamilnad Mercantile Bank IPO allotment status will be released online. Bidders can check Tamilnad Mercantile Bank IPO allotment status on the official registrar website LinkIntime.
Tamilnad Mercantile Bank IPO price band or share price was Rs 500-525 apiece. The IPO lot size is 28 shares, meaning a lot was available at Rs 14,700. Tamilnad Mercantile Bank IPO is a fresh issue of 1.58 crore equity shares. The bank aims to mobilise Rs 831.6 crore through the IPO at the upper end of the price band.
Tamilnad Mercantile Bank IPO Allotment Status Check Online On LinkIntime Website
Step 1: Visit www.linkintime.co.in/MIPO/Ipoallotment.html
Step 2: Enter the issue name — Tamilnad Mercantile Bank IPO (once allotment is declared)
Step 3: Enter PAN details, application number and other required details
Step 4: After filling all the boxes, click on submit to know Tamilnad Mercantile Bank IPO allotments status
Step 5: Tamilnad Mercantile Bank shares will be credited in the Demat account of successful investors on September 14
Tamilnad Mercantile Bank IPO opened for retail subscription on September 5 and concluded on September 7. Tamilnad Mercantile Bank IPO was subscribed 2.86 times. Tamilnad Mercantile Bank raised Rs 363.3 from anchor investors ahead of the opening of the issue for retail investors.
Tamilnad Mercantile Bank IPO Listing Date
Tamilnad Mercantile Bank IPO listing date on NSE, BSE is September 15.
Tamilnad Mercantile Bank IPO Review By Anil Singhvi
Ahead of Tamilnad Mercantile Bank IPO, Zee Business Managing Editor and market expert Anil Singhvi had said that the bank has strong asset quality, robust financials and net interest margin (NIM) but suggested staying away from the issue. He said the bank is engaged in too many litigations and is always under regulator’s scrutiny.
“Valuation-wise the IPO is not very attractive. Avoid this issue as there are many better options available among listed banks,” Singhvi had said earlier.
Tamilnad Mercantile Bank IPO Price Refund
Tamilnad Mercantile Bank IPO refund will be initiated on September 13.
Tamilnad Mercantile Bank is a Tuticorin-based private bank. The bank will utilise the proceeds from IPO for augmenting its Tier-I capital base to meet future capital requirements.
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