The bank’s listing is expected to be one of the most popular in the past year, along with Royal Mail and Saga.
Parent Lloyds Banking Group is to sell up to 35 per cent of the business with a quarter of shares likely to go to private investors.
The UK’s seventh largest retail bank with 631 branches, TSB has set out ambitious growth plans
The minimum application was £750 and as an incentive investors will be offered one free share for every one they hold for a year up to £2,000.
The final share price will be announced today after a range of 220p to 290p was announced last week, valuing TSB at £1.3billion at the mid-price.
Demand has reportedly been strong from retail investors and large funds.
There has also been keen interest from American funds and yesterday TSB chief executive Paul Pester arrived back in the UK after a three-day investor roadshow in the US.
The UK’s seventh largest retail bank with 631 branches, TSB has set out ambitious growth plans but will not pay a dividend until 2018 as cash is reinvested in the business.