Renny Strips Files IPO Papers With SEBI; Targets ₹300 Crore Via Fresh Issue

New Delhi, Dec 15: Renny Strips Ltd, a steel structural products manufacturing company, has filed preliminary papers with markets regulator Sebi to raise funds through an initial public offering (IPO), comprising a fresh issue of shares worth Rs 300 crore.

Apart from the fresh issue component, there will be an offer for sale (OFS) of 1.2 crore equity shares by promoters, according to the draft red herring prospectus (DRHP).

Use Of IPO Proceeds Outlined In DRHP

As per the draft papers filed on Friday, 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 at Ludhiana, Punjab; upgradation of existing manufacturing units; payment of debt; and general corporate purposes.

Wide Range Of Steel Structural Products

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.

Renewable Energy Push To Reduce Carbon Footprint

Also, the company is in the process of commissioning a 22-MW solar power plant to reduce reliance on conventional energy sources and further minimise its carbon footprint.

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Financial Performance In FY25

Financially, the company’s revenue from operations stood at Rs 856.25 crore in fiscal 2025, down from Rs 882.2 crore in the preceding fiscal. It reported a profit after tax of Rs 19.66 crore in FY25 as against Rs 11.47 crore a year ago.

Pantomath Capital Advisors is the sole book-running lead manager to the offer.

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