Tamilnad Mercantile Bank Limited IPO.
Incorporated in 1921, Tamilnad Mercantile Bank (TMB) is one of the oldest private sector banks in India. It offers an array of banking and financial services to retail customers, micro, small, and medium enterprises (MSMEs), and more. TMB has a strong portfolio of advances and deposits from a diversified customer base including retail customers, agricultural customers, and MSMEs.
As of March 31, 2022, the bank has a strong branch network of 509 branches and a total customer base of 5.08 million. TMB has a significant market presence in the state of Tamil Nadu with 369 branches, and is also present in 15 other states and 4 union territories of India.
Tamilnad Mercantile Bank Limited IPO Details
IPO Size INR 65.58 CR
IPO Opening Date 05, Sep 2022
IPO Closing Date 07, Sep 2022
Allotment Date 12, Sep 2022
IPO Listing Date 15, Sep 2022
Price Band ₹500 to ₹525 per share
Minimum 28 Shares
Maximum 364 Shares
Click on the link to open your Demat account and start trading
Tamilnad Mercantile Bank Limited IPO.
Incorporated in 1921, Tamilnad Mercantile Bank (TMB) is one of the oldest private sector banks in India. It offers an array of banking and financial services to retail customers, micro, small, and medium enterprises (MSMEs), and more. TMB has a strong portfolio of advances and deposits from a diversified customer base including retail customers, agricultural customers, and MSMEs.
As of March 31, 2022, the bank has a strong branch network of 509 branches and a total customer base of 5.08 million. TMB has a significant market presence in the state of Tamil Nadu with 369 branches, and is also present in 15 other states and 4 union territories of India.
Tamilnad Mercantile Bank Limited IPO Details
IPO Size INR 65.58 CR
IPO Opening Date 05, Sep 2022
IPO Closing Date 07, Sep 2022
Allotment Date 12, Sep 2022
IPO Listing Date 15, Sep 2022
When, as an investor, you buy the share of any company, you use the stock trading account to do so. The money is debited from your bank account and the shares are reflected in your Demat account where they are also credited.
Similarly, when you sell your shares through your trading accounts, the same gets debited from your Demat account and are then sold in the market. The proceeds of the sale are credited back to your account. Thus to trade in the stock markets, it is mandatory to have both stock trading account and an online Demat account.