Tamilnad Mercantile Bank IPO
Banking - Listed on 15 September 2022
Tamilnad Mercantile Bank IPO listing summary
Tamilnad Mercantile Bank (Banking) closed its IPO window in 2022 and listed on NSE and BSE on 15 September 2022 at an upper band issue price of Rs 510, opening at Rs 509.64 for a listing gain of -0.1% and closing day one at Rs 493 (-3.3% on closing basis). The IPO was subscribed 2.09x overall - QIB 3.30x, HNI/NII 0.56x, Retail 0.77x. The total issue size was Rs 2,800 Cr (Fresh Issue Rs 2800 Cr, OFS Rs 0 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Listing day performance
Subscription breakdown
Final (Day 3) subscription
Number of times each investor category subscribed by close of Day 3.
Day-wise overall subscription
How overall subscription built up across the three-day issue window.
Tamilnad Mercantile Bank IPO GMP history
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 25 | +4.90% |
| Day 2 | Rs 25 | +4.90% |
| Day 3 | Rs 25 | +4.90% |
| Day 4 | Rs 20 | +3.92% |
| Day 5 | Rs 15 | +2.94% |
GMP Prediction vs IPOGyani AI Prediction
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
Issue & financials
Market context at listing
How the broader market moved around the Tamilnad Mercantile Bank IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Tamilnad Mercantile Bank IPO - FAQs
What was the listing gain of Tamilnad Mercantile Bank IPO?
Tamilnad Mercantile Bank IPO listed at -0.1% versus the upper issue price of Rs 510 on 15 September 2022.
How many times was Tamilnad Mercantile Bank IPO subscribed?
Tamilnad Mercantile Bank IPO was subscribed 2.09x overall. QIB portion was subscribed 3.30x, HNI / NII 0.56x and Retail 0.77x.
What was the IPO GMP for Tamilnad Mercantile Bank?
IPO GMP started at Rs 25 on Day 1 and moved to Rs 15 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.