Tamilnad Mercantile Bank IPO Share Allotment Today: How to Check via BSE, Registrar’s Website

Tamilnad Mercantile Bank IPO Share Allotment Today: Share allotment of the public issue of Tamilnad Mercantile Bank Ltd will be allotted today, September 12, 2022. It raised Rs 831.60 crore through its public issue. The IPO was launched with a price band of Rs 500-525 a share. After the announcement of the share allotment, an applicant would be able to check Tamilnad Mercantile Bank IPO allotment status online by logging in at the official BSE website — bseindia.com or at the website of the official registrar of the IPO. The official registrar of the public offer is Link Intime India Private Ltd and its official website is linkintime.co.in.

Tamilnad Mercantile Bank IPO’s Subscription

The qualified institutional buyers (QIBs) category was subscribed 1.62 times. The Non-Institutional Investors (NIIs) category was subscribed 2.94 times. The Retail Individual Investors (RIIs) category was subscribed 6.48 times.

How to check Tamilnad Mercantile Bank IPO Share Allotment Status

The finalisation of the basis of share allotment of Tamilnad Mercantile Bank IPO is going to take place on Monday (September 12). If allotted, the credit of shares to demat account of bidders will be done on Wednesday (September 14). The registrar for this IPO is Link Intime India Private Ltd, therefore the allotment application can be checked on the registrar’s website here or on the BSE website here.

Step 1: Go to https://www.bseindia.com/investors/appli_check.aspx.

Step 2: Select ‘equity’ option and then issue name – ‘Tamilnad Mercantile Bank IPO’ from the dropdown

Step 3: Enter your application number and PAN card number.

Step 4: Check ‘I am not a robot’ and hit submit to know the status.

Tamilnad Mercantile Bank IPO Allotment Status Check on Link Intime India Private Limited

Step 1: Go to https://www.linkintime.co.in/MIPO/Ipoallotment.html

Step 2: On this page enter the issue name, which is Tamilnad Mercantile Bank IPO, once activated

Step 3: Enter Pan Card details

Step 4: Proceed to the next step and enter the application number and finally client ID

Step 5: After filling all the boxes with the right details, hit submit to know the allotments status.

Tamilnad Mercantile Bank IPO GMP

According to market observers, Tamilnad Mercantile Bank IPO grey market premium (GMP) today is Rs 7 per equity share.

Grey Market is an unofficial market where individuals buy/sell IPO shares before they officially hit the exchanges. GPM is a premium amount at which grey market IPO shares are traded and it reflects how the IPO is likely to react on its listing day.

Tamilnad Mercantile Bank IPO price band or share price was Rs 500-525 apiece. The IPO lot size is 28 shares, meaning a lot was available at Rs 14,700. Tamilnad Mercantile Bank IPO is a fresh issue of 1.58 crore equity shares. The bank aims to mobilise Rs 831.6 crore through the IPO at the upper end of the price band.

Tamilnad Mercantile Bank IPO refund will be initiated on September 13.

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