Tamilnad Mercantile Bank Limited IPO
Tamilnad Mercantile Bank Limited – a bank headquartered at Thoothukudi, Tamil Nadu (India) is planning to raise INR 831.60 Cr via IPO [831.60 Cr Fresh Issue + 0 Cr OFS]
Tamilnad Mercantile Bank – History
Incorporated in the year 1921 as ‘Nadar Bank Limited’, Tamilnad Mercantile Bank (name changed in the year 1962), TMB is one of the oldest and leading old private sector banks in India.
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Business
TMB offers banking and financial services mostly to the –
- Micro Enterprises,
- Small and Medium Enterprises (MSME), and
- Agricultural and Retail Customers (RAM)
Network
As on June 30, 2021, TMB has a network of 509 branches, out of which
- 106 branches are located in rural areas,
- 247 branches in semi-urban areas,
- 80 branches in urban areas, and
- 76 branches in metropolitan centres
Client Base
As on June 30, 2021, TMB has a client base of around 4.93 million, out of which 3.45 million customers have been associated with the bank for a period of more than five years.
Achievement
As per the ‘CRISIL’ Report, TMB had the second highest Net Profit for Fiscal year 2021 amongst its peers, and its Return on Assets (ROA) stood at 1.3 percent compared to a median 0.7 percent to its peers for Fiscal year 2021.
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Tamilnad Mercantile Bank – Key Strength
- Strong inheritance, trustworthy client base, and focus on improving servicing framework
- Strong presence in Tamil Nadu and focus to increase presence in other regions
- Advances with focus on agricultural, retail, and MSME segments
- Consistently rising deposit base with effort on low-cost retail CASA
- Proven financial performance track record
- Professional Management with experienced board of director
Promoters
Tamilnad Mercantile Bank is a professionally managed bank.
IPO Dates
IPO Details – Price, Minimum Bid and Other
Financials
CONCLUSION
Considering the company’s financial parameters and performance, FinBlab recommends SUBSCRIBE ratings on Tamilnad Mercantile Bank Limited IPO
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