How much does Renny Strips plan to raise through its IPO?

Renny Strips plans to raise up to Rs 300 crore through a fresh issue of equity shares and an offer for sale.

Where does Renny Strips export its scaffolding and formwork systems?

Renny Strips currently supplies scaffolding and formwork systems to more than 21 countries worldwide.

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Renny Strips IPO: Rs 300 Cr Boost for Structural Giant

Q: What is Renny Strips filing with SEBI India?

Renny Strips has filed its draft red herring prospectus with SEBI India for an Initial Public Offering (IPO).

15 Dec

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Summary

Renny Strips filed for an IPO to raise up to Rs 300 crore.
Company rapidly expanded scaffolding exports to 21 countries.
IPO funds will finance new manufacturing unit and reduce debt.

Renny Strips IPO: Rs 300 Cr Boost for Structural Giant

Renny Strips, a prominent structural products manufacturer based in Ludhiana, has initiated its journey towards the capital markets by filing a draft red herring prospectus with SEBI India for an Initial Public Offering (IPO).

The company intends to raise approximately Rs 300 crore through a combination of fresh equity share issuance and an offer for sale by existing shareholders. These proceeds will significantly bolster its growth strategy, with a substantial portion earmarked for establishing a new manufacturing facility and upgrading existing ones.

Furthermore, Renny Strips is committed to sustainability, evidenced by its commissioning of a 22-megawatt solar power plant. The company also boasts a rapidly growing international presence, exporting its scaffolding and formwork systems to over 21 countries shortly after commencing production in this segment.

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