Tamilnad Mercantile Bank IPO share allotment today; Here is how to check online

tech.hindustantimes.com:

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.

According to market observers, Tamilnad Mercantile Bank IPO grey market premium (GMP) is Rs. 7 per equity share today. The registrar for the Tamilnad Mercantile Bank IPO is Link Intime India Private Ltd. Those who have applied for the Tamilnad Mercantile Bank IPO, can check the status of the allotment either on BSE or Link Intime official website after it gets declared. tHE IPO listing date is scheduled to take place on 15th September 2022.

Step 1: Visit the BSE website or NSE website here.

Step 2: Select 'Equity' and then choose the issue name 'Tamilnad Mercantile Bank' from the dropdown menu.

Step 3: Now, enter your application number and PAN and click on 'Search'.

Step 4: The details will be displayed once the shares are allotted.

Visit the official portal of Link Intime or simply click here- https://linkintime.co.in/MIPO/Ipoallotment.html .

Next, select any of the options among PAN card number, Application number or DP Client ID from the top bar. 

Now choose the company from the drop down menu and hit submit to