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Tamilnad Mercantile Bank Limited
Tamilnad Mercantile Bank Limited is a mainboard IPO raising ₹832 Cr at ₹500 – ₹525 a share. It listed on 15 Sept 2022 and trades at ₹877 today, +67.0% against its issue price of ₹525. It was subscribed 2.86× in total.
₹525
Issue price
₹877
Price now
+67.0%
Since issue price
15 Sept 2022
Listed on
2.86×Subscribed (final) · all exchanges
2.9 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Price band₹500 – ₹525
Cut-off price₹525
Issue size₹832 Cr
Shares per lot28
Minimum application₹14,700
Minimum quantity28
Face value₹10
Listing exchanges—
ISININE668A01016
Bidding hours10:00 – 17:00 IST
Bidding window5 Sept 2022 – 7 Sept 2022
Not here yet
Valuation against the issuer's named peers, what the fresh money funds, and the anchor-investor allocation come from reading the prospectus, which we do for current and upcoming issues — historical issues will not gain them.