Analysis and Insights into the world of IPOs and investing in India

Saturday, May 30, 2009

Rishabhdev Technocable Ltd. IPO - Objects of the Issue

Rishabhdev Technocable, a cable manufacturing and trading company is entering the capital market with its initial public offer of 90,00,000 equity shares of Rs 10 each. The issue will open on June 4, 2009 and close on June 9, 2009. The price band is fixed at Rs 29-33 per share.
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The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges and to raise capital to:
  1. Expansion cum modernization of existing manufacturing facilities (Unit I) at Daman;
  2. Setting up of new facilities (Unit II) at Daman for manufacturing Electrical Control Cables;
  3. Setting up of new facilities (Unit III) at Silvassa for manufacturing Power cables;
  4. Margin Money for working capital Requirements;
  5. To meet Public Issue Expenses
  6. General Corporate purpose
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