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

At 9.57 am,  the share was trading at Rs 39.90, at a premium of 20.90% to its issue price. The share touched an intraday high of Rs 47 and an intraday low of Rs 38.55 in the early trade. The total traded quantity was 15,81,921 shares on the BSE.

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.