Tamilnad Mercantile Bank IPO today. Experts predict flat starts

Tamilnad Mercantile Bank share price will be available for traders and investors from today. According to information available on the BSE website, the IPO date of Tamilnad Mercantile Bank has been set for September 15, 2022. The BSE notice states that the shares of Tamilnad Mercantile Bank Limited will be listed and admitted to trade on the BSE and the NSE in the list of securities of group ‘T’. The certificate will be in the Trade-for-Trade segment until further notice.

According to stock market watchers, pending legal issues and subdued prices have investors on their toes. They said Tamilnad Mercantile Bank shares may have a flat quote and we may not see a Tamilnad Mercantile Bank IPO today. Tamilnad Mercantile Bank GMP (grey market premium) IPO is today, according to market watchers 10, this means that the gray market also expects the same lines.

Speaking at the Tamilnad Mercantile Bank stock listing, Abhay Doshi, Founder of UnlistedArena.com, said: “Primary markets have gained momentum with few decent listings. However, Tamilnad Mercantile Bank got a lackluster response from QIB and HNI segments comparatively. and subdued prices may have made investors wary. The issue may list around its issue price and we might not witness much fanfare when listing.

Expecting a flat quote for Tamilnad Mercantile Bank shares, Aayush Agrawal, Senior Research Analyst at Swastika Investmart said: “We expect a flat or negative quote based on the current GMP and less subscription numbers. We had assigned an avoidance rating due to precarious legal challenges and lack of complete clarity on management’s long-term performance despite improving fundamentals over the past three years.”

Anticipating Tamilnad Mercantile Bank shares to trade around its issue price, Ravi Singh, CEO of GCL Securities, said: “Tamilnad Mercantile Bank has so far delivered cautious growth figures, however, margins remained stable with sound fundamentals. its issue price due to a subdued response amid subdued secondary market sentiment and a vigilant approach to the ongoing OFS legal case. »

On Tamilnad Mercantile Bank’s listing price, Manoj Dalmia, Founder and Director of Proficient Equities, said: “If there is positive market sentiment, Tamilnad Mercantile Bank shares could debut around 540 per share, which is less than 3% of its issue price of 500 to 525 per share. Investors can wait for the quote and those looking for the long haul can wait for the stock to gain as Nifty Bank looks bullish. Even those looking for gains can hold out for a few weeks, but with a stop loss depending on risk appetite.”

Tamilnad Mercantile Bank IPO GMP today

According to market watchers, Tamilnad Mercantile Bank GMP IPO is today 10, which is further 5 below its Wednesday GMP of 15. This means that the gray market expects shares of Tamilnad Mercantile Bank 535 ( 525+ 10), which is at par with its issue price of 500 to 525 per share.

Disclaimer: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.

Catch all the trade news, market news, breaking news and latest updates on Live Mint. Download the Mint News app to get daily market updates.

More less

To subscribe to Mint Bulletins

* Enter a valid email

* Thank you for subscribing to our newsletter.

Post your comment

About William G.

Check Also

Luxury Hotel Market Business Growth Strategies 2022-2028, by Size and Survey Caproate | Oberoi Hotels, Hilton Hotels

Luxury hotel market1 The luxury hotel market is expected to be driven by increasing growth …