Rodec Pharma, Renny Strips and Krishna Buildspace Receive Sebi Nod to Float IPOs

New Delhi, May 29: Rodec Pharma, Renny Strips and Krishna Buildspace have secured Sebi s approval to raise funds through initial public offerings (IPOs), an update with the markets regulator showed on Friday.

Renny Strips Ltd a steel structural products manufacturing company has filed its draft papers in December, 2025 while veterinary pharmaceutical firm Rodec Pharma and construction company Krishna Buildspace did the same in January this year.

The three companies obtained Sebi s observations during May 26-27, 2026.

In Sebi s parlance obtaining observations is equivalent to securing approval to float a public offering.

Rodec Pharma s maiden public offering will be entirely an offer-for-sale of 56.5 lakh shares by promoter Mukesh Kumar Gupta.

Hence the company will not receive any funds from the offer.

Incorporated in 1997m Rodec Pharma that manufactures animal feed supplements and markets veterinary pharmaceutical drugs and animal feed supplements to veterinarians animal healthcare providers and livestock farmers.

It has a manufacturing facility in Ghaziabad Uttar Pradesh.

Renny Strips proposed IPO comprising a fresh issue of shares worth Rs 300 crore.

Apart from fresh issue component there will be 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 from mild steel billets wire rods ERW pipes and tubes and design-driven scaffolding and formwork systems having applications across a diverse end-use industry.

Gujarat-based construction company Krishna Buildspace proposed a public issue consists 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.

Incorporated in 1995 the contracting and building services provider 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.

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