In aim to collect Rs 30 crore, Sunil Golchha promoted Rishabhdev Technocables' Follow-on Public Offer (FPO) will open on 4th June, 2009.

The company, which currently listed on the Pune and Jaipur stock-exchanges, proposes to list on the Bombay Stock Exchange. The Price Band has been fixed between Rs 29 and Rs 33.

The company will issue 90,00,000 Equity Shares of Rs 10 each for cash at a price to be decided through 100% Book Building process.

Mumbai-based Rishabhdev Technocables is specialized, controlled and power cables manufacturing firm. It currently has two units in Daman, one for specialized cables and the other for controlled cables and smaller size power cables.

According to company officials, the funds are being raised to finance the setting up of a brand new, low voltage power cables plant at Silvassa. The plant is expected to operational by the end of the year.

The Book Running Lead Managers are IDBI Capital Market Services and PL Capital Markets Pvt. Ltd. while the Co-Book Running Lead Manager is Ashika Capital Ltd.

The FPO is scheduled to close on 9th June, 2009.