Renny Strips has received approval from the Securities and Exchange Board of India (SEBI) to raise funds through initial public offering (IPO). The company has 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 Unit I and Unit II, payment of debt, and general corporate purposes.
The company had filed its draft papers in December 2025. Shares of the company are proposed to be listed on the BSE and the NSE. In SEBI's parlance, obtaining observations is equivalent to securing approval to float a public offering.
Renny Strips, founded in 1996, is a fully integrated structural products manufacturer headquartered in Ludhiana, Punjab. The company operates integrated manufacturing units, providing end-to-end finished products. The company’s offerings span a wide range of structural products across the value chain, from mild steel billets, wire rods and narrow-width hot rolled coils to electric resistance welded black and galvanized steel pipes and tubes, precision fabrication.
