Thursday, July 2, 2009

Rishabhdev Technocables - IPO Listing

Rishabhdev Technocables shares got listed on the exchange on 29th June, 2009. The IPO didn't perform well on listing though. The follow-on public offer (FPO) had opened for subscription between June 4 and June 9, 2009 and was subscribed 7.76 times.

It touched an intraday high of Rs 47 and intraday low of Rs 25.85. The total traded quantity was 2,53,18,301 shares. It ended its first trading session with a discount of 17.58% to its issue price of Rs 33 and share closed at Rs 27.20 on the BSE.

Rishabhdev Technocables is specialized, controlled and power cables manufacturer promoted by Sunil Golchha. The funds were raised to finance the setting up of a brand new, low voltage power cables plant at Silvassa.

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