Tamilnad Mercantile Bank Ltd - IPO

Tamilnad Mercantile Bank Ltd IPO Details

Initial public offering of 15,840,000 equity shares of face value of Rs. 10 each (Equity Shares) of Tamilnad Mercantile Bank Limited (Bank or Issuer) for cash at a price of Rs. 510 per equity share (including a share premium of Rs. 500 per equity share) (the Offer Price) aggregating to Rs. 807.84 crores* (the Offer) comprising a fresh issue of 15,840,000 equity shares aggregating to Rs. 807.84 crores (the Offer). The offer constituted 10.00% of our post-offer paid-up equity share capital.The offer price is Rs. 510 per equity share and the offer price is 51 times the face value of the equity shares.* Subject to finalisation of the basis of allotment

Objective of issue

To be utilised towards Augmentation of the Bank's Tier-I Capital base to meet the Bank's future Capital Requirements.

Tamilnad Mercantile Bank Ltd Contact Details

Tamilnad Mercantile Bank Ltd, C-101 247 Park, L B S Marg, Vikhroli West, Mumbai-400083

Phone - 91-22-49186000

Fax - 91-22-49186060

Email - secretarial@tmbank.in

Website - www.tmb.in