The Initial Public Offers (IPO) Of Private Sector Lender Tamilnad Mercantile Bank Is Open For Subscription From Monday September 5, And Will Close On 7 September. But The Question is that is it worth subscribing Tamilnad Mercantile Bank IPO ? Let’s Check it out All the Details Related to Tamilnad Mercantile Bank IPO Like Tamilnad Mercantile Bank ( GMP ) Grey Market Price, Previous Quarter Results, financials, Tamilnad Mercantile Subscription Data, And Analyst review Details.
About Tamilnad Mercantile Bank :
Tamilnad Mercantile Bank is one of the Oldest Private Sector Lender Bank of india Since More Then 100 Years. Tamilnad Mercantile Bank Has More Then 509 Branches Of Which 76 Are in Metro City, 327 Are in Urban to Semi Urban Areas While 106 Are in Rural Areas. In Below chart You Can Read More Details About Tamilnad Mercantile Bank
|Bank Name||Tamilnad Mercantile Bank|
|Customer Base||5.08 Million|
|Establised in||1921 As Nadar Bank|
|Bank Services||Micro, Small And Medium Enterprise, Agri And Retail Customer|
Tamilnad Mercantil Bank IPO Details :
Private Sector Bank Tamilnad Mercantile Bank Is Going to Launch its IPO on BSE/NSE . Investors Should Know All the In-Depthe Details Regarding IPO Before Investing. Here We Have added And Coverd Up All The Important Key Factors To Watch out For TMB IPO.
|Tamilnad Mercantile Bank Share IPO Issue Size||1,58,40,000|
|Subscription Open Date||5 September|
|Subscription End Date||7 September|
|Funds To be Raised||831 Crores|
|Tamilnad Mercantile Bank Share Face Value||10|
|Early Mobilised From Anchor Investors||361 Crores|
|Quota Reserved For Retail Investors||10%|
|Quota Reserved For Qualified Instutional Buyers ( QIBs )||75%|
|Quota Reserved For Non Instutional Investors ( NIIs )||15%|
TMB Previous Quarter Results :
If We Go Through The Previous Year quarter Results And Financial Data Of Tamilnad Bank As Shown in Below Chart Then We Came To Know That It Has Given Consistent Year On Year And Quarter On Quarter Growth Since 2012, Total Revenue comes From Operation in 2020-2021 Was 72,000 Cr Which Was 13% Higher then 2019-2020 Financial Year.
while some Negative Factors Are Also There Like Net NPA ( Non Performing Assets ) And Gross NPA Increasing . Other Details Like ROE,ROA,NIM You Can Check On Below Chart.
TMB IPO Subscription Data :
Tamilnad mercantile Bank IPO Is Opend Today on 5 September And As of it Is Subscribed 83%, In Which Retail Portion Subscribed 1.53, Qualified Instutional Buyers ( QIBs ) Quota Subscribed 0.73 While Non Instutional Investors ( NIIs ) Quota Subscribed 0.58 Times.
Tamilnad Mercantile Bank IPO (GMP)Grey Market Price :
As Of Now Street Expections for Tamilnad Mercantile Bank IPO is Some What Mixed. As Grey Market Price (GMP ) Of Tamilnad Mercantile Bank Is Nearly 35 Rs And it’s Stady Since Last Three Days, Which Shows That Street is Expecting TMB Share To List At 525+30 = 555 Rs ( 6% )
What Analyst Says ?
If We Go Through All The Reviews Of Share Market Analyst Then We Came To Know That The Most Of The Market Analysts Are Giving Green Signal’s in Favours to TMB To Subscribe. Here We have Added List Of Major Brokerages’ Review For Tamilnad Mercantile Bank Ipo.
|ICICI Direct||Subscribe For Long Term|
Dedicated Customer Base, Healthy Balance Sheet, Strong Financial Track Record With Resonable Vaulations Has Attracted Many Investors To Subscibe For Tamilnad Mercantile Bank IPO. As Shown In Above Chart Three Out Of Five Giant Brokerages Are in Favour Of Subscribing The Tamilnad Mercantile Bank IPO. While KR Choksey Is Neutral On This. ICICI Direct As Given Green signal To Investor To Subcribe For Both Initial Gains And For Long Term