Renny Strips files IPO papers with Sebi for ₹300 cr fresh issue, new facility planned

• Renny Strips Ltd filed preliminary IPO papers with Sebi to raise funds.
• The IPO includes a fresh issue of shares worth ₹300 crore and an Offer for Sale of 1.2 crore equity shares by promoters.
• Proceeds will fund a new manufacturing facility in Ludhiana, upgrade existing units, repay debt, and for general corporate purposes.
• Renny Strips manufactures steel structural products and is commissioning a 22-MW solar power plant.
• The company reported a revenue of ₹856.25 crore and a profit after tax of ₹19.66 crore in FY25.

Why It Matters: This IPO signals Renny Strips' expansion and offers a new investment option.