Tentiwal Wire Products SME IPO to close on Dec 16

Uttar Pradesh based winding wire manufacturer company Tentiwal Wire Products has come out with its public issue of 16.30 lakh equity shares of a face value of Rs 10 each for cash at price of Rs 13 per equity share aggregating to Rs 211.90 lakhs is going to close on December 16. The issue was opened for subscription on December 11.

The objects of the issue are to reduce overall indebtedness of the company by repayment of the outstanding loan from Aditya Birla Finance Limited (ABFL), general corporate purpose and to meet the issue expenses.

The company is primarily engaged in the business of manufacturing of Wire and Aluminum products.

The equity shares offered through this draft prospectus are proposed to be listed on the SME Platform of BSE Limited.

Hem Securities will be the lead manager, however Sharepro Services (India) Private Limited has appointed as a registrar to the issue.

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