Rodec Pharma, Renny Strips, Krishna Buildspace Receive SEBI Nod to Launch IPOs

Rodec Pharma, Renny Strips, and Krishna Buildspace Secure SEBI's Approval for IPOs

Rodec Pharma, Renny Strips, and Krishna Buildspace have secured the approval of the Securities and Exchange Board of India (SEBI) to raise funds through initial public offerings (IPOs), as per an update from the markets regulator on Friday.

The three companies had filed their draft papers in December 2025 (Renny Strips Ltd) and January 2026 (Rodec Pharma and Krishna Buildspace). They obtained SEBI's observations on May 26-27, 2026, which is equivalent to securing approval to float a public offering in SEBI's parlance.

Rodec Pharma's maiden public offering will be an offer-for-sale of 56.5 lakh shares by promoter Mukesh Kumar Gupta. As a result, the company will not receive any funds from the offer.

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Established in 1997, Rodec Pharma manufactures animal feed supplements and markets veterinary pharmaceutical drugs and animal feed supplements to veterinarians, animal healthcare providers, and livestock farmers. The company has a manufacturing facility in Ghaziabad, Uttar Pradesh.

Renny Strips proposed IPO comprises a fresh issue of shares worth Rs 300 crore, along with an offer for sale (OFS) of 1.2 crore equity shares by promoters. The company plans to use proceeds from the fresh issue for setting up a new facility to manufacture scaffolding and formwork systems, along with ERW (electric resistance welded) pipes and tubes in Ludhiana. Funds will also be used for upgrade of existing manufacturing units, payment of debt, and general corporate purposes.

Renny Strips offers a wide range of structural products across the value chain, including mild steel billets, wire rods, ERW pipes and tubes, and design-driven scaffolding and formwork systems, with applications across a diverse end-use industry.

Krishna Buildspace, a Gujarat-based construction company incorporated in 1995, proposed a public issue consisting of a fresh issue of 90 lakh shares and an offer for sale of 9 lakh shares by Mohanbhai Chanabhai Sorathiya and Jayantibhai Chanabhai Sorathiya. The company has executed 82 projects covering 2.30 million sq ft of constructed area, with a total project value of Rs 639.2 crore, over the last decade.

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Shares of these three companies are proposed to be listed on the BSE and the NSE.

Note: The table is used to provide a clear comparison of the fresh issue and offer for sale components of the two companies' proposed IPOs.