Rodec Pharma, Renny Strips, and Krishna Buildspace have received approval from the Securities and Exchange Board of India (SEBI) to initiate initial public offerings (IPOs), according to an update from the market regulator dated Friday.
Renny Strips Ltd, a manufacturer of steel structural products, submitted its draft IPO papers in December 2025. Rodec Pharma, a veterinary pharmaceutical firm, and Krishna Buildspace, a construction company, filed their documentation in January 2026.
The companies received SEBI’s observations—indicative of approval for their public offerings—during the period of May 26-27, 2026.
Rodec Pharma’s upcoming public offering will consist entirely of an offer-for-sale of 5.65 million shares by promoter Mukesh Kumar Gupta, meaning the company itself will not raise any funds through the offering. Established in 1997, Rodec Pharma specializes in manufacturing animal feed supplements and marketing veterinary pharmaceutical products to veterinarians and livestock farmers, with its manufacturing facility located in Ghaziabad, Uttar Pradesh.
Renny Strips plans an IPO featuring a fresh issue of shares valued at ₹300 crore, alongside an offer for sale (OFS) of 12 million equity shares by its promoters. The proceeds from the fresh issue are earmarked for establishing a new facility in Ludhiana to produce scaffolding and formwork systems, as well as electric resistance welded (ERW) pipes and tubes. Additional funds will be allocated for upgrading existing manufacturing units, repaying debt, and general corporate needs.
The company manufactures a variety of structural products covering the entire value chain, including mild steel billets, wire rods, ERW pipes and tubes, and design-driven scaffolding and formwork systems, utilized across several industries.
Krishna Buildspace, a Gujarat-based construction company incorporated in 1995, has proposed a public issue that comprises a fresh issue of 9 million shares and an offer for sale of 900,000 shares by Mohanbhai Chanabhai Sorathiya and Jayantibhai Chanabhai Sorathiya. Over the past decade, the company has completed 82 projects, covering 2.30 million square feet of constructed area, with a cumulative project value of ₹639.2 crore.
Shares of these three companies are expected to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Published on May 29, 2026.
