Tamilnad Mercantile Bank IPO: Here’s how you can check the allotment status

• Tamilnad Mercantile Bank is likely to announce its share allotment status today.
• Overall, the IPO has seen decent demand from investors amidst volatile market conditions and even as the grey market premium for the company’s shares have been falling.
• The IPO will be listed on September 15 on exchanges.

Thoothukudi-based Tamilnad Mercantile Bank is likely to announce the allotment status of its initial public offering (IPO) today, September 12.

The IPO opened for subscription from September 5 to September 7. It received bids for 2.49 crore equity shares as against 87.12 lakh shares on offer.

Overall, the IPO has seen decent demand from investors amidst volatile market conditions and even as the grey market premium for the company’s shares have been falling.

Despite this, the retail portion of the IPO saw a subscription of 6.41 times the offer.

Moreover, the grey market premium (GMP) of the company’s shares have come down to ₹5 from ₹35 earlier.

The private sector bank is planning to raise ₹832 crore through a fresh issue of 1.58 crore shares. The lender has fixed the price band at ₹500-525 per share.

Here is how to Tamilnad Mercantile Bank IPO allotment status on stock exchange website:

• Go to the BSE website or NSE website here.
• On BSE, Select 'Equity' and then from the dropdown, select ‘Tamilnad Mercantile Bank’.
• Now, enter your application number and PAN.
• Click on 'Search'.
• Please note the details will only be available once the shares are allotted.

You can also visit the registrar website (Link Intime India) to check your application status.

• Visit the registrar's website here.
• Click on 'Select company' and click on ‘Tamilnad Mercantile Bank’.
• Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.
• Enter the captcha and click ’submit’.

Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you.


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