Rishabhdev Technocables ended its first trading session with a discount of 17.58% to its issue price of Rs 33. The share closed at Rs 27.20 on the BSE.

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 had listed at Rs 42 with a premium of 24.27% to its issue price of Rs 33 a share.

The follow-on public offer (FPO) had opened for subscription between June 4 and June 9, 2009. It was subscribed 7.76 times.

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.