The history of Tamilnad Mercantile Bank Ltd., the then Nadar Bank Ltd., dates back to 1921. The thought of establishing a bank under the guidance of the able Nadar business community was mooted out in the Anniversary of Nadar Mahajana Sangam held at Tuticorin in 1920. The proposal was effected soon. The bank was registered on May 11, 1921as “The Nadar Bank Ltd”.
The bank initially known as “The Nadar Bank Ltd.” became a Scheduled Bank under the Reserve Bank of India Act on May 11, 1935. The Nadar Bank Ltd., changed its name to the Tamilnad Mercantile Bank Ltd., on Nov 26, 1962.
The bank was having only 4 branches until the year 1947 at Tuticorin, Madurai, Sivakasi, and Virudhunagar. The bank had also a branch at Colombo in the year 1937 and the same was closed in the year 1939. The bank has now 509 full-fledged branches all over India, 12 Regional Offices, 11 Extension Counters, 6 Central Processing Centres, 1 Service Branch, 4 Currency Chests, and 1151 Automated Teller Machines. All the 509 branches are computerized and interconnected. The first branch outside the State of Tamilnadu was opened in the year 1976 at Bangalore.
The bank, which had a Net Profit of Rs. 6,984.00 in the year 1921 had spurted its profit to Rs. 5.05 Lakhs in the year 1971 and Rs. 258 Crores for the year ended March 2019. The high level of profit earned by the bank enabled to build up and sustain the high level of reserve base.
|Total Available Shares:||500|
|Face Value:||₹ 10 Per Equity Share|
|Lot Size:||50 Shares|
|Current Unlisted Share Price:||₹ 545 Per Equity Share|
|Retail Discount:||Bulk Deal (1%)|
Please find below the procedure for buying Tamilnad Mercantile Bank Unlisted Shares at UnlistedZone.
Please find below the procedure for selling Tamilnad Mercantile Bank Unlisted Shares at UnlistedZone.
Lock-in period of Tamilnad Mercantile Bank Unlisted Shares depends upon category of investors.
DIS - Delivery Instruction Slip is the way through which an investor can sell or transfer the Tamilnad Mercantile Bank Unlisted Shares from his/her demat account to any other demat account. There are two Types of DIS Slip.
In the last 4-5 years, the unlisted share market has become quite big and as a result of that, the ticket size has reduced from usual 5-10 Lac to 35-50k in today's scenario. So, via our UnlistedZone platform, if somebody wants to buy Tamilnad Mercantile Bank Unlisted Shares then minimum investment would be 35-50k.
Yes, buying and selling of unlisted shares in India is 100% legal.
If you sell your shares within 2 years, then you will have to pay Short-term Capital gain on unlisted shares. Short-Term Capital Gain is added in your Income. So, as per individual tax slab you need to pay capital gain tax.
If you sell your shares after 2 years, then you will have to pay Long-term Capital gain on unlisted shares LTCG is 20% with indexation benefits.
After listing of shares, the unlisted shares which you have bought through unlisted market, will be taxed at listed rates, if sold through exchange. So, taxes of listed market will be applicable. And, to calculate holding time, for determining LTCG or STCG, the purchase date of unlisted shares will be applicable.
If you buy Tamilnad Mercantile Bank Unlisted Shares from UnlistedZone then these shares can checked in two ways. However, before we tell you the process of checking of shares, it is intimated that as per SEBI regulations, the shares can be transferred in demat account only.
Check credit of Tamilnad Mercantile Bank Unlisted Shares Instantly?
The Tamilnad Mercantile Bank Unlisted Shares are credited in demat account same day of transferring funds in our company's bank account.
The price of Tamilnad Mercantile Bank Unlisted Shares can be checked in two ways. First, you can join our telegram channel where on daily basis we share the latest prices of all the unlisted shares in the morning and secondly, you can register on UnlistedZone.live platform to see the historical graphs and prices of all the shares at one place.
If you see the thesis of investment in the unlisted shares then it is being done mainly to take the advantage of IPO market. And, if the IPO plans of company get delayed due to market conditions or any other reason then demand suddenly drops in the market. The unlisted market works mainly on demand and supply and if there is no IPO news then getting exit would be difficult.
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We at UnlistedZone do the valuation based on 2 methods.
As an investor in the unlisted space, we would always recommend that you must check all the risk parameter carefully before investing in the unlisted space.
We source shares either from the employees or initial investors looking to liquidate their Tamilnad Mercantile Bank Unlisted Shares.
Pre-IPO shares means which are planning for an IPO in near future. So, all the shares which are traded on the platform are not Pre-IPO Shares. However, if the company's business is going good and then demand will always be there in the unlisted space, so even if the IPO does not come, the investors can easily liquidate their Tamilnad Mercantile Bank Unlisted Shares in the unlisted market itself.
Rules and regulations of SEBI are applicable in the Unlisted space like lock-in period of 6 months, paying of Stamp Duty, and DP Charges for every transaction etc. However, to become an unlisted broker there is no such regulation by SEBI as of yet.
For tracking news and other information about Tamilnad Mercantile Bank Unlisted Shares, one can visit our website wherein we post news and other information on daily basis and one can also join our telegram channel.