Tamilnad Mercantile Bank Limited IPO Message Board (Page 19)

If A buys and enters in each & every sector, we all Indian have to surrender him directly or indirectly, but whats the source of this funding is also important for citizens of the country, sometimes this question scared me.

Corruption Black Money etc etc.

ILLEGAL IMMORAL to Allocate 10% for retail when company is in profit for last 3 years.

The reason for 10% to me seems that the issue price is going to be very expensive and retailers may not be comfortable.
But investors are not worried. Take the example of PayTM.
Let's see what happens. May be good for retail investors.
Think positive be positive. Otherwise can we do anything?

IRCTC OFS of 3,000 postponed by Govt due to unstable market condition. Shares down by more than 3%.

700-720....for ofs price should touch 780-800..then only people will subscribe for ofs. November may be...

Tentative price band of ~540 freezed GMP of TMB. Market expected little smaller than it. Today seller only

Some of the experts are saying that, the retail reservation for this IPO shall be 10%. I don't think that will be correct. Because, as per rules only the entity which incures losses in any of the last 3 FY must keep 10% reserve which was the case with Dreamfolks. In other scenarios, the retail percentages should be higher.

Can the experts/ IPO gurus throw some lights on these rules pls?? 🙏🙏

https://www.business-standard.com/article/markets/sebi-rule-a-hurdle-in-recent-ipo-successes-114090101183_1.html

Dear Ronne Lewis,

Thanks for your reply. Can you just brief what are that important aspects of SEBI regulations apart from the profit which is causing only 10% allocation ?

Thanks in anticipation.

@GJ Eighteen
------Sebi icdr regulations 2009------
Conditions for initial public offer.
26. (1) An issuer may make an initial public offer, if:
(a) it has net tangible assets of at least three crore rupees in each of the preceding three
full years (of twelve months each), of which not more than fifty per cent. are held in
monetary assets:
Provided that if more than fifty per cent. of the net tangible assets are held in
monetary assets, the issuer has made firm commitments to utilise such excess
monetary assets in its business or project;
(b) it has a track record of distributable profits in terms of section 205 of the Companies
Act, 1956, for at least three out of the immediately preceding five years:
Provided that extraordinary items shall not be considered for calculating distributable
profits;
(c) it has a net worth of at least one crore rupees in each of the preceding three full years
(of twelve months each);
(d) the aggregate of the proposed issue and all previous issues made in the same financial
year in terms of issue size does not exceed five times its pre-issue net worth as per the
audited balance sheet of the preceding financial year;
(e) if it has changed its name within the last one year, at least fifty per cent. of the revenue
for the preceding one full year has been earned by it from the activity indicated by the
new name.
(2) An issuer not satisfying any of the conditions stipulated in sub-regulation (1) may make an
initial public offer if:
(a) (i) the issue is made through the book building process and the issuer undertakes to allot
at least fifty per cent. of the net offer to public to qualified institutional buyers and to
refund full subscription monies if it fails to make allotment to the qualified
institutional buyers ;
or
(ii) at least fifteen per cent. of the cost of the project is contributed by scheduled
commercial banks or public financial institutions, of which not less than ten per cent.
shall come from the appraisers and the issuer undertakes to allot at least ten per cent.
of the net offer to public to qualified institutional buyers and to refund full
subscription monies if it fails to make the allotment to the qualified institutional
buyers;
(b) (i) the minimum post-issue face value capital of the issuer is ten crore rupees;
or
(ii) the issuer undertakes to provide market-making for at least two years from the date
of listing of the specified securities, subject to the following:
A) the market makers offer buy and sell quotes for a minimum depth of three hundred
specified securities and ensure that the bid-ask spread for their quotes does not, at
any time, exceed ten per cent.;
(B) the inventory of the market makers, as on the date of allotment of the specified
securities, shall be at least five per cent. of the proposed issue.
(((Please note that companies falling under clause 2 had to allot 50% for qib as per these 2009 version which was later revised to 75%.Some other conditions may have been revised also.))))

A - ACC
D - DB
A - Ambuja
N - NDTV
I - ?

ITC , INFY , IDBI , IG , I-Phone OR INDIA ? Any !dea ?

That will be IOCL. Very shortly...

Shoud be idea

First IPO under new subscription rules it will be interesting and more helpful. If such rules were present at the time LIC issue. It will list around current prices

@smile please can u quote the source bcz I have searched it but couldn't find the news related to it.
@Team chittorgarh please can u confirm this?

@ankitkumar
https://www.businessworld.in/article/SEBI-Makes-Changes-In-IPO-Rules-Circular-Applicable-From-Sep-1/01-06-2022-430989/

TMB Ipo
Tentative PB 515-530

at price band 500 or 600 or even 700, the P/E based on eps of 57 in 2022 comes to be 10 to 12.. which seems to be quiet good and fairly valued!

Exactly @jajo

Detailed calculation @sdz the shares before offer = 14.25 cr
new shares issued = 1.584 cr
total = 15.834 cr

Profit = 902 cr

Now eps = 902 / 15.834 = 56.97 ~ ₹57

tentative price quoted 520-550.

Anyone using online asba facility for HNI category in IDBI Bank ? There is only retail option. Anyone IDBI customer please clarify how to apply HNI aplication via netbanking....

Can I sell my existing shares of TMB on its listing day?

No.

Lock-in will be removed after expiry 6 months or 12 months from the closure of the issue (to the best of my knowledge), depending on the purpose for which issue funds are going to to be deployed.

The only way to encash shares of prior public issue is to offer them "in the offer for sale", which has been already communicated by the Bank to the then existing shareholders about one year back.

I too hold 300 shares, and I will not be able to sell on listing and I may be able to sell after 6/12 months.

I hold these too, but from my Broker i heard that 6 months is min lock-in period...

Debt-funded acquisitions can put pressure on b ratings: S&P
'Some of the recent acquisitions (by Adani) that we are seeing are largely debt-funded and that is taking away the headroom,' says an S&P executive

Is there any Shareholder quota for existing Shareholders?

No

Below is the reservation structure
QIB 75 %
BHNI 10%
SHNI 5%
Retail 10%

Any employee quota available here ???

No EMP Quota,

Retail also only 10% reservation.

As said earlier , in myfather account we have TMB shares ,which i converted from physical to Demat form 3 years back ... Now will those shares be eligible to trade on Sept15 or any lock in of one year applies ??? experts please throw some light on this ???

6 months locking for existing Shareholders

Thank you @Kursha sir ... I thought one year Lock in ...

Tamilnad Mercantile Bank IPO

NAV/Share = ₹374.41 (as on March 31, 2022)

Thus,
If, Issue Price = 525
Then, P/B = 1.4X

Tamilnad premium 58

Case is pending in Madras High Court. Due to Legal issues TMT is unable to hold AGM. So accounts and other matters can't be approved by the bank till resolution of legal battle.

https://www.financialexpress.com/market/ipo-news/iias-to-sebi-permit-tmb-ipo-after-legal-issues-sorted/2421874/

Tmb 32 buyer

Expecting it to go much higher once price band is announced

Mostly it should be in a price band upto 540 as it was available at this price in grey market