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Rishabhdev Technocable files DRHP with SEBI

Mumbai based Rishabhdev Technocable, is entering into the capital market with a public issue of approximately 90 million equity shares of Rs 10 each. The issue comprises of promoters` contribution of 21.45 million equity shares and net issue to public comprises 68.54 million equity shares to be decided through a 100% book-building process. The issue will constitute 11.47% of the fully diluted post issue paid-up capital of the company.

The equity shares are proposed to be listed on Pune Stock Exchange (PSE) and Jaipur Stock Exchange. IDBI Capital Market Services, Prabhudas Lilladhar Capital Markets and Mandkar Computers are helping the company in the process of raising funds from the market.

Of the total equity float, at least 50% of the issue shall be allocated on a proportionate basis to qualified institutional bidders (QIBs) including 5% of the QIB portion that would be especially reserved for mutual funds. Further, atleast 15% of the issue shall be available for allocation on a proportionate basis to non-institutional bidders and not less than 35% of the issue shall be available for allocation on a proportionate basis to retail individual bidders, subject to valid bids being received at or above the issue price.

Rishabhdev Technocable, is presently one of the well-known cable manufacturers in India.

Over the years, it has expanded the product range and has added variety of cables in its product range like Industrial control cables, Hi- Tech- data cables, Process control instrument signal cables, Thermocouple extension and Compensating cables, Computer application, hi-bit rate networking cables, Digital data communication cables, Specialty cables and Customized cables.