Tamilnad Mercantile Bank’s Rs 831-crore IPO, which got subscribed 2.86 times, is likely to finalise the basis of allotment on Monday, 12 September. The IPO was sold in the range of Rs 500-525 per equity share, and it received a strong response from all the categories of investors. The equity shares are expected to list on BSE and NSE on 15 September 2022. The initiation of refunds or unblocking of funds from ASBA account will take place on 13 September, and the equity shares will get credited to allottees demat account on 14 September 2022.
In the grey market on Friday, Tamilnad Mercantile Bank shares were seen quoting at premium of Rs 22 against the IPO price, according to the people who deal in unlisted shares of the companies. Investors can check the IPO allotment status via BSE and the registrar’s websites. The registrar of the issue is Link Intime India Private Ltd, a SEBI-registered entity, responsible for the IPO allotment and refund processing. Tamilnad Mercantile Bank offers a wide range of banking and financial services primarily to Micro, Small and Medium Enterprises (MSME), agricultural and retail customers. The company’s equity shares are proposed to be listed on BSE and NSE.
Check Tamilnad Mercantile Bank share allotment status via registrar Link Intime India website
To check the share allotment status, select the company name as ‘Tamilnad Mercantile Bank — IPO’ from the drop-down list on the Link Intime India website when it gets declared. Check box either PAN, Application Number or Depository/Client ID. Accordingly, enter the permanent account number or Application Number or Depository/Client ID in the box. Enter the given captcha in the provided space and click the submit button. This will display the number of shares that have been applied and allotted to the investor.
Check share allotment status in Tamilnad Mercantile Bank via BSE website
Another way to check the allotment status in Tamilnad Mercantile Bank is through the BSE website. Select ‘equity’ as the issue type, and ‘Tamilnad Mercantile Bank’ as the issue name from the drop-down list, when it gets declared. Enter the application number and PAN (permanent account number). Click on ‘I am not a Robot’. In the last step, click on the search tab to view the status details.