Tamilnad Mercantile Bank Limited IPO
i. Tamilnad Mercantile Bank is one of the oldest and leading old private sector banks in India with a history of almost 100 years. TMB offers a wide range of banking and financial services primarily to micro, small and medium enterprises (“MSME”), agricultural and retail customers (“RAM”).
ii. As of March 31, 2022, TMB has 509 branches, of which 106 branches are in rural, 247 in semi-urban, 80 in urban, and 76 in metropolitan centers
iii. TMB has built a strong portfolio of advances and deposits across our customer base.
a. MSMEs: TMB primarily offer various loan products to our MSME customers operating in the manufacturing, trading and services sectors.
b. Agricultural customers: TMB primarily offer loan products to individual farmers, group of farmers and agricultural corporates.
c. Retail customers: TMB primarily offer home loans, personal loans, auto loans, educational loans as well as security backed loans of various types to our retail customers.
d. Corporate customers: TMB offer various kinds of loans to corporates, in textiles and other industries, with our assortment of banking products and services including working capital, term financial, trade financial, structured finance services, foreign exchange business funding in domestic and foreign currencies.
a. Long-term track record with almost 100 years of history.
b. Strong presence in Tamil Nadu and consistent focus to expand presence in strategic regions.
c. Diversified and loyal customer base i.e., retail, MSMEs, and agricultural.
d. Consistently growing customer deposit base with a focus on low-cost retail CASA.
e. Proven financial performance track record.
Objects of the Tamilnad Mercantile Bank Limited IPO:
Tamilnad Mercantile Bank Limited IPO Details:
|Open Date:||Sep 05 2022|
|Close Date:||Sep 07 2022|
|Face Value:||₹ 10 Per Equity Share|
|Issue Type:||Book Built Issue|
|Issue Size:||831 Cr.|
|Lot Size:||28 Shares|
|Issue Price:||₹ 505-525 Per Equity Share|
|Listing Date:||Sep 15 2022|
Promoters And Management:
Financials of Tamilnad Mercantile Bank Limited IPO:
|Particulars (in Cr)||March-22||March-21||March-20|
|Net Interest Income||1815||1529||1320|
|Profit before Provisioning||1526||1194||996|
|Profit after Provisioning||822||596||409|
|No. of Shares||15.5||15.5||15.5|
Comparison With Peers:
|Name of the Company||Revenue (In Cr)||P/E||EPS||RONW %|
|City Union Bank Limited||4863||13||10.29||11.54%|
|CSB Bank Limited||2285||8.01||26||17.29%|
|DCB Bank Limited||3964||7.49||9.26||7.10%|
|Federal Bank Limited||1650||10.23||9.52||10.21%|
|Karur Vysya Bank Limited||6356||5.50 8||8.42||8.86%|
|Karnataka Bank Limited||7175||3.39||16.36||7.16%|
|RBL Bank Limited||10796||14.7||-2.77||-1.33%|