Tamilnad Mercantile Bank Ltd. share price target

Tamilnad Mercantile Bank ltd (TMBL), Incorporated in 1921, is a bank with a strong presence in the state of Tamil Nadu with 369 branches, 949 ATMs, and 255 Cash recycler machines (CRMs). TMBL's business is majorly driven by lending to MSME's customers along with Agriculture and Retail customers which combined contribute ~85% of

Tamilnad Mercantile Bank (TMB) is one of India's oldest private sector banks, established in 1921. It provides a wide range of banking and financial services to retail consumers, micro, small, and medium companies (MSMEs), and others.

Issue Snapshot: Issue Open: Sept 05 Sept 07, 2022 Price Band: Rs. 500 525 *Issue Size: Rs 831.60 cr (Fresh issue of 15,840,000 eq sh) Reservation for: QIB atleast 75% eq sh Non Institutional upto 15% eq sh ((including 1/3rd for applications between Rs.2 lakhs to Rs.10 lakhs)) Retail upto 10% eq sh Face Value: Rs 10 Book value: Rs 374.41 (Mar 31, 2022) Bid size: - 28 equity shares and in multiples thereof 100% Book built Issue IPO Note - Tamilnad Mercantile Bank Limited

IPO NOTE