Rishabhdev Technocable Ltd files DRHP with SEBI

New Delhi, Aug 11 (UNI) Cable manufacturing and trading firm Rishabhdev Technocable Ltd today said it has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a follow-on public offer of its equity shares.

The company proposes to issue 90,00,000 equity shares of Rs 10 each for cash at a price to be decided through a 100 per cent Book-Building process, a company statement said.

The issue comprises a promoters contribution of 21,45,500 equity shares and a net issue, to the public of 68,54,500 equity shares.

The net issue constitutes 46.66 per cent of the fully diluted post-issue equity share capital of the Company.

The company is listed on the Pune Stock Exchange Limited and the Jaipur Stock Exchange Limited.

The fresh issue of shares of the company are also proposed to be listed on the Bombay Stock Exchange Ltd, which shall be the designated Stock Exchange.

The company is expanding into manufacturing of power and control cables on a major level.

The objects of the issue also includes expansion and modernisation of existing manufacturing facilities at Daman and setting up new facilities for manufacturing of control and power cables at Daman and Silvassa, respectively.

The Book Running Lead Managers to the issue are IDBI Capital Market Services Ltd and PL Capital Markets Pvt Ltd.

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