Tamilnad Mercantile Bank share price

Tamilnad Mercantile Bank's public issue was subscribed 2.86 times over the 87 lakh shares that were on offer during the subscription period.

It had a customer base of around 5.08 million as of March 2022. The bank reported deposits of Rs 44,930 crore and advances of Rs 33,490 crore as of March 2022. Shares of the company began trading on the BSE at Rs 510 apiece from the IPO price of Rs 500-525 apiece per share. At the time of listing, the company had a market capitalisation of Rs 8,075.92 crore. For FY22, TMB has delivered an RoA of 1.7% and an RoE of 16.6%. “At the upper end of the price band, TMB would trade at an FY22 P/B of 1.4x.

Tamilnad Mercantile Bank IPO Shares: Tamilnad Mercantile Bank stock made a lacklustre debut, listing at Rs 495.00 apiece, 2.94 per cent lower from its issue ...

In short, large-sized banks and a few mid-sized banks are the best to ride on the upcoming credit and economic growth cycle.” The market capitalisation stood at Rs 8,074.34 crore, data from the BSE showed. Long-term investors should wait for some quarters to let the dust settle, and in the meanwhile, we suggest investors go for the existing listed banks where the management’s track record and performance during multiple credit cycles are visible. However, on the BSE, it opened at Rs 510.00, unchanged from the issue price. It offers a wide range of banking and financial services primarily to micro, small and medium enterprises (MSME), agricultural and retail customers. In the first few minutes of listing, the Tamilnad Mercantile Bank stock moved in a narrow range from its listing level.

At 10:08 AM, TMB was at Rs 509.90, marginally lower than its issue price on the BSE. Around 90,000 equity shares have changed hands on the counter so far, ...

More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. The Bank focuses on advances to MSME, agricultural and retail segment which have grown at CAGR of 12.94 per cent between FY20-22. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Given the consistency in its performance over past periods and healthy return ratio, the brokerage firm Anand Rathi Share and Stock Brokers had recommended a "Subscribe-Long Term" rating to the IPO. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. The focus on low cost CASA deposits is expected to keep borrowing cost lower. The qualified institutional buyer (QIB) segment of the issue was subscribed 1.62 times, high networth individual 2.94 times, and retail portion was subscribed nearly 6.5 times. Post listing, the stock hit an intra-day low of Rs 487, and a high of Rs 519, BSE data shows. The precarious legal challenges, the lack of complete clarity on the management's long-term performance, and less than stellar subscription numbers are some of the reasons for its negative listing," said Santosh Meena, Head of Research, Swastika Investmart Ltd. This will help it meet future capital requirements arising out of growth in the bank's assets. Around 90,000 equity shares have changed hands on the counter so far, exchange data shows.

Meanwhile, its shares were listed at par on BSE. At the time of listing, the company had a market capitalisation of Rs 8,075.92 crore. The company launched its ...

Long-term investors should wait for some quarters to let the dust settle, and in the meanwhile, we suggest investors go for the existing listed banks where the management’s track record and performance during multiple credit cycles are visible. Anand Rathi Shares & Stock Brokers had recommended a “subscribe-long term” rating to the IPO because of its consistency in performance and the healthy return ratio. The Retail Individual Investors (RIIs) category was subscribed 6.48 times. The Non-Institutional Investors (NIIs) category was subscribed 2.94 times. The Rs 831.6-crore public offer received bids for 2,49,39,292 shares against 87,12,000 shares on offer. At the time of listing, the company had a market capitalisation of Rs 8,075.92 crore.

Tamilnad Mercantile Bank IPO listing Live Updates: Shares of Tamilnad Mercantile Bank IPO will be listed on the exchanges—NSE and BSE —on Thursday, ...

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Shares of Tamilnad Mercantile Bank made a dull stock market debut on Tuesday with the stock listing at ₹495 apiece on the NSE, a discount of more than 3% ...

Shares of private sector lender Tamilnad Mercantile Bank (TMB) ended flat on Thursday after a muted debut on the stock exchanges. The share was listed at ...

“In the case of corporate lending, we will be very selective as was the case earlier too,” he said. He said the bank will soon come up with a comprehensive plan for network expansion, which had been held back by the Reserve Bank of India. The bank mopped up Rs 808 crore from the IPO, which had a price range of Rs 500- Rs 525. After opening flat on th BSE, the shares dropped to Rs 484.50 on the lower side and marginally rose to a high of Rs 519 during the day, before closing at Rs 508.45. On the NSE, the stock went up to a high of Rs 510, touched a low of Rs 486 and settled with a 0.07% loss at Rs 509.65. Shares of private sector lender Tamilnad Mercantile Bank (TMB) ended flat on Thursday after a muted debut on the stock exchanges.