Mega's IPO collection reaches Rs 6.23 billion, expects 'Tsunami' of applications on last day

ShareSansar, June 5

As Mega Bank’s IPO is closing on June 5, today, the bank officials are expecting a “Tsunami” of applications.

The response from public has been unprecedented with an official of the bank claiming that the shares had been oversubscribed by approximately five times in the first two days itself.

The bank had collected Rs 3.23 billion by the end of the second day. On June 4, the third day, alone the bank collected around Rs 3 billion, the official said.

Officials say they expect a huge turnouts at its collection centers on June 5, the last day of filing applications, as late filers make a beeline for a last chance at what has seemed like highly prized shares based on public response.