SEBI Approves IPO Plans Of Rodec Pharma, Renny Strips, Krishna Buildspace

Rodec Pharma, Renny Strips, and Krishna Buildspace have received approval from the Securities and Exchange Board of India (SEBI) to launch their initial public offerings (IPOs), according to updates issued by the regulator on Friday.

The three companies secured SEBI observations between 26 May and 27 May, 2026, clearing the way for their proposed public issues and stock market listings on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

What Are The Companies Planning Through Their IPOs?

Rodec Pharma

Rodec Pharma’s IPO will entirely consist of an offer-for-sale (OFS), with promoter Mukesh Kumar Gupta selling 56.5 lakh shares. Since the issue does not include a fresh equity component, the company will not receive any proceeds from the IPO.

Founded in 1997, the company operates in the veterinary healthcare segment. It manufactures animal feed supplements and markets veterinary pharmaceutical products to livestock farmers, veterinarians, and animal healthcare providers. Its manufacturing facility is located in Ghaziabad, Uttar Pradesh.

Renny Strips

Renny Strips, a manufacturer of steel structural products, filed its draft IPO papers with SEBI in December 2025.

The Renny Strips IPO comprises a fresh issue of shares worth ₹300 crore. In addition, promoters will sell 1.2 crore equity shares through the offer-for-sale (OFS) route.

The company said the fresh issue proceeds will mainly go towards setting up a new manufacturing facility in Ludhiana. The proposed unit will produce scaffolding and formwork systems along with ERW pipes and tubes. Part of the funds will also be used for upgrading existing facilities, debt repayment, and general corporate purposes.

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Krishna Buildspace

Krishna Buildspace, a Gujarat-based construction company incorporated in 1995, plans to issue 90 lakh fresh equity shares through its IPO.

The Krishna Buildspace IPO also includes an OFS of 9 lakh shares by promoters Mohanbhai Chanabhai Sorathiya and Jayantibhai Chanabhai Sorathiya.

Over the last decade, the company has completed 82 projects covering 2.30 million square feet, with a total project value of ₹639.2 crore.

Sources:

Moneycontrol

The Hindu Business Line