IPO -  Tamilnad Mercantile Bank

Rajendra Sep 2, 2022

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Category 

Mid Cap

Inception

Oct 8, 1995

Benchmark

Nifty Midcap 150

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AUM  - 13,510 Cr

Fund Manager

Manish Gunwani & Dhrumil Shah & Tejas Sheth

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Kotak Small Cap Fund

(A Small Cap Fund)

Fund Size

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The 100-year-old bank announced its ₹830 crore IPO, which will be open from 5 September to 7 September.

Highlights

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The bank was started in 1921 under the name "Nadar Bank Limited," & its name was changed to "Tamilnad Mercantile Bank Limited" in 1962.

Establishment

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strong presence with 369 branches and 238 cash recycling machines in addition to 941 automated teller machines (ATMs).

Presence

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Issue Details

Open Dt - 5 Sep 2022

Close Dt -  7 Sep 2022

Price Band  -  500- 525

Lot Size -  28 share

Face Value - 10 per share

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Issue Details  -

1 Lot  - 14,700

Listing -  BSE / NSE

Registrar  - Link Intime Pvt Ltd

Allotment Dt - 12 Sep 2022

Strong Point

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1

• Trustworthy risk management & effective underwriting practices

Strong Point

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• 100-year history; 4.91 million customers; &  CAGR of 5% in the last 3 years.