Tamilnad Mercantile Bank IPO: Key dates, price band (2022)
Tamilnad Mercantile Bank Ltd
TMB
Ask AI
Overview of the Tamilnad Mercantile Bank IPO
Tamilnad Mercantile Bank Ltd, a private sector lender, opened its initial public offering (IPO) for subscription from September 5, 2022 to September 7, 2022. The IPO was available for bidding during market hours from 10.00 a.m. to 5.00 p.m. The issue was listed on both the BSE and the NSE, with the trading identifiers shown as BSE: 543596 and NSE: TMBEQ. The bank is classified under Banks - Private Sector, and the ISIN shared in the details is INE668A01016.
The source text also indicates that the IPO page tracks operational details such as issue open and close dates, face value, price band, issue size, and listing day price metrics. Alongside these IPO mechanics, investor-facing information like the allotment process and registrar contacts are also included.
Subscription window and UPI mandate cut-off
The IPO bidding window was explicitly stated as September 5-7, 2022, with a cut-off time for UPI mandate confirmation mentioned as 07-Sep-2022 up to 5:00 PM. This cut-off time is relevant for investors applying through UPI-based ASBA mechanisms, where mandate confirmation is required within the issue timelines.
The IPO market timings were stated as 10.00 a.m. to 5.00 p.m., matching the period during which bids could be placed or modified during the issue window.
Issue size, shares on offer, and face value
The issue size was described in share terms as an initial public offer of 15,840,000 equity shares, including an anchor portion of 7,128,000 equity shares. The face value was listed as ₹10 per share.
The rupee value of the IPO size appears in multiple places with slightly different figures in the provided text. One section states the IPO size as ₹807.84 crore, while another section frames the total size range as ₹792 crore to ₹831.6 crore for the same 15,840,000 shares. The offer for sale component is also shown as Nil in one of the tables, and the IPO is described as a fresh issue of 15,840,000 shares (₹792 crore to ₹831.6 crore).
Price band and final allotment price references
The IPO price band was stated as ₹500 to ₹525 per share. Separately, multiple lines highlight ₹510 per share as the IPO price, including a table that lists the final allotment price as ₹510 per share. The listing reference also notes that the stock listed at ₹508.45 against an offer price of ₹510.00.
Because both the band and the final price are included, readers should treat ₹500-₹525 as the bidding range and ₹510 as the stated issue price used for comparison in listing and timetable snippets.
Subscription figures: overall and category-wise
The text states that the IPO was subscribed 2.86 times over 87 lakh shares during the subscription period from September 5-7, 2022. In addition, category-wise subscription details are provided in Tamil, showing:
- QIBs: 1.62 times
- NIIs: 2.94 times
- RIIs: 6.48 times
An allocation split is also included: retail quota 10%, QIB 75%, and HNI 15%.
Allotment date, refunds, demat credit, and listing schedule
Multiple parts of the source describe the standard post-issue timeline. The detailed timetable states the finalisation of basis of allotment on September 12, 2022, initiation of refunds on September 13, 2022, transfer of shares to demat accounts on September 14, 2022, and listing on September 15, 2022.
There are also conflicting snippets in the provided text that mention different dates, including a line that says the allotment would be finalised on September 23 and listing on September 26, and another line incorrectly stating an “IPO Allotment Date is 7th September 2022”. But the most repeated and fully defined schedule in the text points to September 12 (allotment) and September 15 (listing).
How to check allotment status on BSE and Link Intime
The text provides step-by-step instructions for checking the allotment status on the BSE website:
- Visit https://www.bseindia.com/investors/appli_check.aspx
- Under Issue Type, click Equity
- Under Issue Name, select Tamilnad Mercantile Bank Ltd
- Enter the application number
- Enter PAN card ID
- Tick “I am not a Robot” and submit
It also lists the registrar route using Link Intime India Private Limited (also referenced as MUFG Intime India Private Limited in one section):
- Go to https://linkintime.co.in/MIPO/Ipoallotment.html
- Select the IPO name (populated after allotment is finalised)
- Choose mode: Application number, Client ID, or PAN ID
- Select application type: ASBA or non-ASBA
- Enter the selected details, fill captcha, and submit
Registrar contact details and address from the issue information
The registrar address is listed as:
C 101, 247 Park L.B.S. Marg Vikhroli (West), Mumbai 400 083 Maharashtra, India
The contact person details given are:
Shanti Gopalkrishnan, +91 22 4918 6200, tmb.ipo@linkintime.co.in
Another phone number is also mentioned for the registrar: +91-22-4918 6270, alongside the Link Intime website link to the public issues page.
Listing details and first-day price references
The IPO was listed on Thursday, September 15, 2022 on both the NSE and BSE. The source includes multiple listing price references:
- “Listed at a listing price of ₹508.45 against the offer price of ₹510.00.”
- A timetable table notes Opening Price on BSE: ₹510 per share and Closing Price on BSE: ₹509.65 per share, described as slightly down from the IPO price.
Key IPO facts at a glance
Market impact: what the data shows
The most concrete market signal in the text is the listing comparison against the ₹510 reference issue price. The stock is reported to have listed at ₹508.45, and another table shows the BSE opening price at ₹510 and BSE close at ₹509.65 on listing day. These figures, taken together, indicate that the first day’s traded prices referenced in the source were close to the IPO price, with small differences depending on which listing metric is used.
The subscription level of 2.86 times provides a demand snapshot for the offer period, while the category-wise figures show higher demand in the retail bucket (6.48 times) compared with QIBs (1.62 times) and NIIs (2.94 times), as reported.
Analysis: why the allotment and registrar process matters for investors
The text places strong emphasis on post-issue processes such as the basis of allotment, refunds, and demat credit. It also explains the registrar’s role in handling timelines for credit of shares, dispatch and uploading of refunds, and addressing investor queries after the issue is completed.
For applicants, the practical takeaway is procedural: once the basis of allotment is finalised, the allotment status becomes searchable on the BSE and Link Intime portals using identifiers like PAN, application number, or DP Client ID. The timeline in the source also links these steps to specific dates: refunds initiation on September 13 and demat credit by September 14, ahead of the September 15 listing.
Conclusion
Tamilnad Mercantile Bank’s IPO ran from September 5-7, 2022 with a ₹500-₹525 price band and a stated issue price reference of ₹510 per share, and was reported to be subscribed 2.86 times. The provided timetable points to September 12 as the basis of allotment date, followed by refunds on September 13, demat credit on September 14, and listing on September 15 on both BSE and NSE. Investors can use the BSE and Link Intime websites listed in the issue details to verify allotment status once the registrar updates the results.
Frequently Asked Questions
Did your stocks survive the war?
See what broke. See what stood.
Live Q4 Earnings Tracker
