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Rishabhdev Technocable was incorporated on November 24, 1994 under the guidance and supervision of Shri Bhanwar Lal Golchha, Shri Sunil Golchha and Shri Kamal Chand Golchha being the Promoters of the Company. The main business of the Company, at the time of incorporation, was trading in various types of cables namely electrical cables, instrumentation cables, process control cables and specialty custom made wires and cables.
In June 1997, the company made an initial public offering of its shares and was listed on the Pune Stock Exchange Limited ('PSE') and the Jaipur Stock Exchange Limited ('JSE').
During the year 2001-02, the company sold some of its Fixed Assets (Capital Work in Progress) for a consideration of Rs. 80.32 lacs and utilized Rs 37.53 lacs towards of acquisition of shares in Komet Wire Industries Private Limited ('KWIPL'), which was engaged in manufacturing of cables, thus giving us a foothold in manufacturing.
On July 25, 2002 the company acquired 27,500 equity shares of Komet Wire Industries Private Limited,(aggregating to 55% of paid up equity share capital thereof) having its manufacturing facilities at 731/1, 730/1 and 730/4 Vapi Daman Road, Village Dabhel, Daman 396215 ('Unit I') Daman.. The Company acquired further 4970 shares of KWIPL as a fresh allotment on March 31, 2003, by which the shareholding the company in KWIPL increased to 64.94%.
The company commenced its independent manufacturing activities towards the end of March 2004 with a small set-up in a portion of the factory premises owned by KWIPL. However, simultaneously with the commencement of the said manufacturing facilities a plan for amalagamation of KWIPL with the Company was under consideration. Therefore, the manufacturing activities of the Company were continued to be carried on with the small set-up aforesaid.
With a view to ensuring smooth functioning of the two companies, KWIPL was amalgamated with the Company. With an intention to expand the manufacturing base, the company purchased property in the year 2006, to set-up a state of art unit ('Unit II') for manufacturing of control cables.
The Company is planning to set-up another unit at Silvassa (Unit III) for manufacturing of Power cables. The Company has entered into a Memorandum of Understanding dated June 27, 2008 with M/s Haveli Enterprises for the purpose of acquiring approx. 48,000 square meters of land at Silvassa.
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