Tamilnad Mercantile Bank share quote will be available for traders and investors from today. According to the information available on the BSE website, Tamilnad Mercantile Bank’s IPO listing date has been set for September 15, 2022. The BSE Notice states that the shares of Tamilnad Mercantile Bank Limited are to be listed and admitted to trading on the BSE and NSE on the ‘T’ Group List of Securities. The script is in the trade-for-trade segment until further notice.
According to stock market watchers, pending legal issues and moderate pricing have kept investors alert. They said that Tamilnad Mercantile Bank shares may have a flat listing and today we may not see desire for Tamilnad Mercantile Bank IPO listing. According to market watchers, Tamilnad Mercantile Bank’s IPO today is GMP (Grey Market Premium). €10, which means that the gray market is also counting in the same direction.
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, the Tamilnad Mercantile Bank received comparatively dismal reactions from the QIB and HNI segments. Some pending legal issues and moderate pricing may have made investors wary. The issue could trade around its issue price and we may not see much lust for the listing.”
In anticipation of a flat listing for Tamilnad Mercantile Bank shares, Aayush Agrawal, Senior Research Analyst at Swastika Investmart, said: “We expect a flat or negative listing based on current GMP and less than stellar underwriting numbers, due to legal challenges and a lack of full clarity over the long-term Management’s performance despite improving fundamentals over the past three years.”
Ravi Singh, CEO of GCL Securities, forecast Tamilnad Mercantile Bank shares to trade around their issue price and said: “Tamilnad Mercantile Bank has so far delivered conservative growth numbers but margins have been stable on solid fundamentals. It is likely to trade around its issue price due to muted reaction amid subdued secondary market sentiment and vigilant approach to the pending case regarding OFS.”
Commenting on Tamilnad Mercantile Bank’s share price, Manoj Dalmia, Founder and Director of Proficient Equities said: “If market sentiment is upbeat, Tamilnad Mercantile Bank shares could make their debut €540 per share, which is less than 3 percent of the issue price of €500 to €525 per share. Investors can wait for the listing, and those who want it long-term can wait for the stock to gain as Nifty Bank looks bullish. Even those looking for profit can hold for a few weeks but with a stop loss according to risk tolerance.”
Tamilnad Mercantile Bank IPO GMP today
According to market watchers, Tamilnad Mercantile Bank IPO is GMP today €10 what’s next €5 lower from the GMP of its wed of €15. This means that the gray market expects Tamilnad Mercantile Bank shares to list €535 ( €525+ €10), which corresponds to the issue price of €500 to €525 per share.
Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms and not Mint.
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