They are seated in Panchapeethas (five monasteries) known as Veera (Rambhapuri), Saddharma (Ujjaini), Vairagya (Kedar), Surya (Srisailam), and Jnana (Kashi) Shimhasanas.
Renukacharya is first mentioned in Siddhanta Shikhamani, a 15th century mythological fiction of Sanskrit language written by Shivayogi Shivacharya, it is regarded as holy book for the Panchapeethas.
Similar to their past brahmanical Acharya Traya, meaning three sages (Adishankaracharya, Madhavacharya, Ramanujacharya, and their peethas), the five priest among the migrant five sages crowned themselves as a Panchacharyas and established panchpeethas, which are named after famous shiva temples, and Panchacharyas are the founders of Veerashaivism, they created mythological fiction Siddhanta Shikhamani, manipulated agama and other Shaiva literature, republished it as Veerashaivaagama to support their claims.
[2] Researchers also rejected claims of Siddhanta Shikhamani, as per them no Veda, Agama, Upanishad, Brahmanaka, Aranyaka or any text related to Shankaracharya or the Ramayana or a any Hindu literature make a mention of any of these Panchacharyas or their amazing activities.
[2] Renukacharya, Darukacharya, Ekorama, Panditharadhya, Vishwaradhyas are called as Panchacharyas, their iconography is a sage standing on Shivalingam, it is based on Siddhanta Shikhamani, as per this mythology Renukaradhya is said to have been born from the Someshwara lingam in Kolanupaka of Telangana.