Bids Opened for Mega Bank's auction: How much is the cut-off price?

Fri, Oct 16, 2020 10:14 AM on Auction, Latest,

A portion of the right shares issued by Mega Bank from 2074/05/27 to 2074/07/14 was unclaimed by promoters and general investors. The same shares were reissued in an auction to promoters and the general public from Ashwin 11. It concluded on Ashwin 18, 2077. 11,33,344.70 units promoter shares and 7,07,394.93 units ordinary shares were auctioned.

The bids received for the auction have been opened yesterday, i.e. Ashwin 29, at the office of Mega Capital Markets, the auction manager.

According to the preliminary data provided by Mega Capital Markets, the tentative cut-off price for the promoter shares is Rs. 108. Meanwhile, the tentative cut-off price for the ordinary shares is Rs. 212. However, the data entry process is going on, and the actual cut-off price may differ slightly. 

Update: According to the official notice issued by Mega Capital Markets, the cut-off price is Rs. 108.11 for promoter shares and Rs. 216 for ordinary shares.