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12.09 / 09:03
Booking Tamilnad Mercantile Bank IPO share allotment today; Here is how to check online
Tamilnad Mercantile Bank initial public offering (IPO) allotment status will likely be announced anytime today on September 12. The private sector bank IPO was opened for subscription from September 5 to September 7 and it received bids for 2.49 crore equity shares against 87.12 lakh shares on offer. The retail portion of the IPO has been subscribed 6.41 times the offer. The shares allocated for the qualified institutional buyers (QIBs) were booked 1.62 times, while non institutional investors' portion were subscribed 2.94 times and that of retail individual investors (RIIs) was subscribed 6.48 times, the NSE data showed. The public issue of the bank was offered at a price band of Rs. 500 to Rs. 525 per equity share.
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