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IPO Open

Wed, Sep 9, 2026

IPO Close

Fri, Sep 11, 2026

Price Band

₹77 to ₹81

Market Cap*

₹2,238.89 Cr * on Upper Price

IPO Details

  • IPO Date
    9 to 11 Sep, 2026
  • Listing Date
    Thu, Sep 17, 2026
  • Face Value
    ₹2 per share
  • Price Band
    ₹77 to ₹81
  • Lot Size
    185 Shares
  • Sale Type
    Fresh capital cum OFS
  • Issue Type
    Bookbuilding IPO
  • Listing At
    BSE, NSE
  • Total Issue Size
    5,11,11,110 shares (agg. up to ₹414 Cr)
  • Fresh Issue
    4,35,80,246 shares (agg. up to ₹353 Cr)
  • Offer for Sale
    75,30,864 shares of ₹2 (agg. up to ₹61 Cr)
  • Share Holding Pre Issue
    23,28,26,065 shares
  • Share Holding Post Issue
    27,64,06,311 shares

  • IPO Open
    Wed, Sep 9, 2026
  • Allotment
    Wed, Sep 9, 2026
  • Credit of Shares
    Wed, Sep 16, 2026
  • IPO Close
    Fri, Sep 11, 2026
  • Refund
    Tue, Sep 15, 2026
  • Listing
    Thu, Sep 17, 2026

Issue Reservation

Investor Category Shares
QIB Not more than 50% of the Offer
Retail Not less than 35% of the Offer
NII Not less than 15% of the Offer

IPO Lot Size

Investors can bid for a minimum of 185 shares and in multiples thereof.

Application Lots Shares Amount
Retail (Min) 1 185 ₹14,985
Retail (Max) 13 2,405 ₹1,94,805
S-HNI (Min) 14 2,590 ₹2,09,790
S-HNI (Max) 66 12,210 ₹9,89,010
B-HNI (Min) 67 12,395 ₹10,03,995

About Steamhouse India Ltd.

Incorporated in June 2015, SteamHouse India is an industrial gas company specialising in the generation and centralised distribution of steam and nitrogen through its pipeline network. Its community-based systems provide industrial customers with an alternative to developing and maintaining individual infrastructure. The company has an extensive pipeline network, spans over 45 kms in key industrial hubs including like Sachin, Vapi, Ankleshwar, Sarigram, Panoli and Nadesari.

Industrial Gas Business: The company’s industrial gas business includes:

  • Generation and distribution of steam
  • Purchase and distribution of steam
  • Separation, compression and distribution of nitrogen

SteamHouse also purchases steam from other generating entities for distribution through its pipeline network. Additionally, it separates nitrogen from atmospheric air, compresses and supplies purified nitrogen to industrial customers, while also engaging in coal trading.

The company’s clients include Aether Industries Limited, Anupam Rasayan India Limited, Globe Enviro Care limited, Gujarat Polysol Chemicals Private Limited, Devanshi Dyestuff, K. Patel Chemo Pharma Private Limited, K. Patel Dye Chem Industries Private Limited, Mahavir Synthesis Private Limited, Mangalam Intermediaries, Orgo Chem Gujarat Private Limited and Subhasri Pigments Limited.

As of July 31, 2026, the company had 229 employees and they utilised the services of 276 contract labourers.

Compettitve Strength:

  1. Leading market position offering customers an energy efficient solution across industries with high growth potential.
  2. High barriers to entry for competitors.
  3. Strategically located facilities offering community gas generation and distribution.
  4. Marquee customer base with long-term relationships driven by our value proposition.
  5. Track-record of implementing eco-friendly solutions and promoting sustainable development.(Updated on Sep 7, 2026)

Company Financials (Restated Consolidated)

Steamhouse India Ltd.’s revenue increased by 24% and profit after tax (PAT) rose by 24% between the financial year ending with March 31, 2026 and March 31, 2025.  (Amount in ₹ Crore)

Period Ended 31 Mar 2026 31 Mar 2025 31 Mar 2024
Assets 679.45 543.67 422.31
Total Income 494.97 398.53 293.16
Profit After Tax 38.64 31.16 27.19
EBITDA 83.49 69.32 68.41
NET Worth 163.76 131.00 102.71
Reserves and Surplus 127.57 87.25 58.35
Total Borrowing 281.62 222.95 202.71

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

  • # Issue Objects
    Est Amt (₹ Cr.)
  • 1 Repayment or prepayment of all or a portion of certain outstanding borrowings availed by Company
    180.00
  • 2 Funding capital expenditure requirements for augmenting infrastructure development of the Company towards capacity expansion of the Ankleshwar Facility (Phase 3
    37.98
  • 3 Funding capital expenditure requirements for augmenting infrastructure development of the Company towards capacity expansion of the Panoli Facility (Phase 2
    37.98
  • 4 Funding capital expenditure in relation to the setting up of a manufacturing facility for generation of steam at Dahej SEZ
    38.17
  • 5 General Corporate Purposes
  • Total
    294.13

Key Performance Indicator (KPI)

KPI Mar 31, 2026
ROE 22.36%
ROCE 16.06%
Debt/Equity 1.57
RoNW 23.60%
PAT Margin 7.81%
EBITDA Margin 16.99%
NAV 7.25
Price to Book Value 11.17

IPO Valuation

Valuation Metric Pre IPO Post IPO
EPS (₹) 1.66 1.40
P/E (x) 48.8 57.86
Market Cap at Offer Price ₹1,886Cr. ₹2,238.89 Cr
  • The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.

Shareholding Structure

Category Pre IPO Post IPO
Promoter and Promoter Group 96.59% 78.63%
Public 3.41% 21.37%
Total 100% 100%

Company Promoters: Vishal Sanwarprasad Budhia, Ritu Budhia, V SB Business Trust, Budhia Business Trust and VB Business Trust.

Offer For Sale – Selling Shareholder

Name Category No. of Shares Offered Amount (₹ cr.)
Vishal Sanwarprasad Budhia Promoter 75,30,864 61.00
Total 75,30,864 61.00

IPO Registrar

Kfin Technologies Ltd.

IPO Lead Manager(s)

  1. Equirus Capital Ltd.

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

Steamhouse India Ltd. Address
Office No. 324, Second Floor,
Four Point, V.I.P. Road,
Vesu
Surat, Gujarat, 395007

IPO FAQs

Steamhouse India IPO is a main-board IPO of 5,11,11,110 equity shares of the face value of ₹2 aggregating up to ₹414 Crores. The issue is priced at ₹77 to ₹81. The minimum order quantity is 185.

The IPO opens on Wed, Sep 9, 2026, and closes on Fri, Sep 11, 2026.

Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Angel One customers can apply online in Steamhouse India IPO using UPI as a payment gateway. Angel One customers can apply in Steamhouse India IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Steamhouse India IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Steamhouse India IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Angel One IPO Application Process Review for more detail.

The Steamhouse India IPO opens on Wed, Sep 9, 2026 and closes on Fri, Sep 11, 2026.

Steamhouse India IPO lot size is 185, and the minimum amount required for application is ₹14,985.

You can apply in Steamhouse India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for Steamhouse India IPO will be done on Tuesday, September 15, 2026, and the allotted shares will be credited to your demat account by Wed, Sep 16, 2026. Check the Steamhouse India IPO allotment status.

The Steamhouse India IPO listing date is not yet announced. The tentative date of listing is Thu, Sep 17, 2026.

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