The Securities and Exchange Board of India (SEBI) has approved the IPO proposals of Renny Strips Limited, Krishna Buildspace Limited and Rodec Pharma Limited, paving the way for the companies to launch their IPOs over the coming months.
The approvals were granted on May 27, 2026, for Renny Strips and on May 26, 2026, for Krishna Buildspace and Rodec Pharma.
Company | Issue Type | Fresh Issue | Offer for Sale (OFS) |
Renny Strips Limited | Fresh Issue + OFS | ₹300 crore | Up to 1.2 crore shares |
Krishna Buildspace Limited | Fresh Issue + OFS | Up to 0.90 crore shares | Up to 0.09 crore shares |
Rodec Pharma Limited | OFS Only | NIL | Up to 0.56 crore shares |
Renny Strips IPO - Issue Details
Issue Type: Book-built IPO (Fresh Issue + OFS)
Fresh Issue: ₹300 crore
Offer for Sale (OFS): Up to 1.20 crore equity shares
Face Value: ₹5 per equity share.
Proposed Listing: The equity shares are proposed for listing on the NSE and BSE.
Book Running Lead Managers: Pantomath Capital Advisors Private Limited.
Registrar: Bigshare Services Private Limited.
Utilisation of Proceeds
The Company intends to utilise the net proceeds from the fresh issue towards the following purposes:
- Funding the capital expenditure requirements of the Company towards:
- Setting up of a new manufacturing unit to expand production capabilities to manufacture Scaffolding and Formwork systems along with ERW pipes and tubes at Ludhiana, Punjab ('Proposed Unit IV') and
- Upgradation of the Company's existing Unit I and Unit III manufacturing facilities.
- Repayment and/or pre-payment, in full or in part, of certain outstanding borrowings availed by the Company.
- General corporate purposes.
About Renny Strips Limited
Renny Strips Limited is a vertically integrated manufacturer of structural steel products, offering a wide range of products including MS billets, wire rods, hot-rolled coils, ERW pipes and tubes, and scaffolding systems. The company serves diverse industries, including construction, infrastructure, automotive, railways, and engineering, through its three manufacturing facilities in Ludhiana, Punjab, and a customer base spanning India and international markets.
Renny Strips Key Financial Parameters
Particulars (in ₹ crore) | FY25 | FY24 | FY23 |
|---|---|---|---|
Revenue from operations | 856.2 | 882.19 | 533.38 |
Profit after Tax (PAT) | 19.65 | 11.47 | 9.58 |
EBITDA | 48.39 | 28.38 | 18.42 |
Krishna Buildspace IPO - Issue Details
Issue Type: Book-built IPO (Fresh Issue + OFS)
Total Issue size: 0.99 crore equity shares
Fresh Issue: Up to 0.90 crore equity shares
Offer for Sale (OFS): Up to 0.09 crore equity shares
Face Value: ₹10 per equity share.
Book Running Lead Managers: Mefcom Capital Markets Limited
Registrar: MUFG Intime India Private Limited
Utilisation of Proceeds
- Funding the working capital requirements of the Company.
- Funding capital expenditure requirements for the purchase of equipment and machinery.
- General corporate purposes.
About Krishna Buildspace Limited
Founded in 1995, Krishna Buildspace offers integrated in-house design, engineering, and project management services. Its subsidiary-led model covers the full project lifecycle, eliminating the need for external contractors. The firm serves residential, commercial, industrial, institutional, infrastructure, waste management, and healthcare sectors.
Over the past decade, the company has completed 82 projects across 8 states, covering 2.30 million sq. ft. and valued at ₹6,392.54 million. As of December 15, 2025, the company has 19 active projects in 8 states and 2 Union Territories, with an unexecuted value of ₹5,241.74 million.
Krishna Buildspace Key Financial Parameters
Particulars (in ₹ crore) | FY25 | FY24 | FY23 |
|---|---|---|---|
Revenue from operations | 183.28 | 172.08 | 164.76 |
Profit after Tax (PAT) | 15.10 | 11.30 | 7.49 |
EBITDA | 28.41 | 22.52 | 15.64 |
Rodec Pharma IPO - Issue Details
Issue Type: Book-built IPO
Total Issue size: Up to 0.56 crore equity shares
Offer for Sale (OFS): Up to 0.56 crore equity shares
Face Value: ₹10 per equity share.
Book Running Lead Managers: Khambatta Securities Limited.
Registrar: Bigshare Services Private Limited.
About Rodec Pharma Limited
Rodec Pharma Limited is an animal healthcare company engaged in manufacturing animal feed supplements and marketing veterinary pharmaceutical products. Established in 1997, the company serves veterinarians, animal healthcare providers, and livestock farmers across India through an integrated manufacturing, distribution, and marketing network.
The company maintains an extensive distribution network across several states, including West Bengal, Himachal Pradesh, Uttarakhand, Jharkhand, Bihar, Chhattisgarh, Telangana, Madhya Pradesh, Assam, Rajasthan, Gujarat, Punjab, Uttar Pradesh, Haryana, and Maharashtra.
Rodec Pharma Key Financial Parameters
Particulars (in ₹ crore) | FY25 | FY24 | FY23 |
|---|---|---|---|
Revenue from operations | 106.39 | 88.42 | 71.61 |
Profit after Tax (PAT) | 18.26 | 11.04 | 5.21 |
EBITDA | 25.76 | 15.73 | 8.12 |
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