![]() ![]() The shares of the company are expected to list on stock exchanges BSE and NSE on Thursday, September 15, 2022. In the last couple of weeks, the equity market has corrected and remained range-bound after hitting psychological levels - 60,000 on the BSE Sensex and near 18,000 on the Nifty50 amid nervousness among global peers.Īs per market observers, Tamilnad Mercantile Bank shares are available at a premium (GMP) of Rs 23 in the grey market today, higher from ₹20 yesterday. Overall market sentiments also affected the premium to some extent, the experts feel.ĬSB Bank, DCB Bank, Karur Vysya Bank, and Karnataka Bank were available at P/E of 3.4-8.0 their FY22 earnings. Considering its consistency in performance and the healthy return ratio, the brokerage had recommended a “subscribe- long term” rating to the IPO. “At the current valuation, TMB is seen demanding a richer valuation compared to its peers given that TMB is outperforming its peers on the majority of financial parameters,” Narendra Solanki, Head–Equity Research, Anand Rathi Shares & Stock Brokers, said. The registrar for this IPO is Link Intime India Private Ltd, therefore the allotment application can be checked on the registrar’s website here or on the BSE website here. The finalization of basis of share allotment of Tamilnad Mercantile Bank IPO is expected to take place next week on Monday, Septemand if allotted, then the credit of shares to demat account of bidders will be done on Wednesday, September 14, 2022. Tamilnad Mercantile Bank IPO: Share Allotment Process The Retail Individual Investors (RIIs) category was subscribed 6.48 times. The Non-Institutional Investors (NIIs) category was subscribed 2.94 times. The Qualified Institutional Buyers (QIBs) category was subscribed 1.62 times. Tamilnad Mercantile Bank IPO: Subscription Status The IPO was launched with a price band of Rs 500-525 a share. ![]() ![]() As it is a fresh issue, the entire money will be utilised by the company to augment its tier-I capital base to meet future capital requirements. Tamilnad Mercantile Bank IPO GMP Today: Tamilnad Mercantile Bank raised Rs 831.60 crore through its public issue, which was subscribed 2.86 times on September 5-7. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
January 2023
Categories |