Steamhouse India IPO subscribed 42%

The offer received bids for 1.56 crore shares as against 54.43 lakh shares on offer.

The initial public offer of Steamhouse India received bids for 1,56,81,525 shares as against 3,76,36,363 shares on offer, according to stock exchange data at 17:00 IST on 9 September 2026. The issue was subscribed 0.42 times.

The issue opened for bidding on 9 September 2026 and will close on 11 September 2026. The price band of the IPO is fixed between Rs 77 and 81 per share. An investor can bid for a minimum of 185 equity shares and multiples thereof.

The offer consists of both a fresh issue and an offer for sale component (OFS). The fresh issue will include 8,39,50,617 shares aggregating up to Rs 353 crore at the upper price band of Rs 81. The OFS includes 75,30,864 shares of Rs 2 aggregating up to Rs 61.0 crore at the upper price band of Rs 81. The total number of shares are 9,14,81,481 shares, aggregating up to Rs 414 crore at upper price band of Rs 81.

The funds raised to the tune of Rs 180 crore will be used towards repayment or prepayment of all or a portion of certain outstanding borrowings availed by the company, Rs 75.95crore will be utilised towards capacity expansion of Ankaleshwar and Ponali facilities, Rs 38.17 crore towards funding capital expenditure in relation to the setting up of a manufacturing facility for generation of steam at Dahej GIDC (Phase II) and the balance for general corporate purposes.

Steamhouse India (SIL) specializes in the generation and centralized pipeline distribution of industrial gases, primarily steam and nitrogen, to industrial customers and is a pioneer of the community boiler system in India. Its core business involves generating and distributing steam through community boilers and pipeline networks, purchasing and redistributing steam, and supplying nitrogen through a distributed pipeline network. In 2025, the company expanded into nitrogen production and became the only company in India to supply nitrogen through a distributed pipeline network. SIL also undertakes coal trading on an invoice-only basis, which contributed 26.9% of total revenue in FY26. The company operates seven community steam boilers in Gujarat with a combined installed capacity of 345 tonnes per hour and maintained a 60,151-metre operational pipeline network as of 31 July 2026. Its steam plants cater to customers across chemical, pharmaceutical, agro-chemical, textile, tyre, dyes and pigments, polymers and paint industries, with customers including Aether Industries, Anupam Rasayan India and Gujarat Polysol Chemicals. The company?s focus remains on expanding its capacity while reducing its debt burden.

Ahead of the IPO, Steamhouse India on Tuesday, 8 August 2026, raised Rs 124.19 crore from anchor investors. The board allotted 1.5 crore shares at Rs 81 each to 6 anchor investors.

The firm reported a consolidated net profit of Rs 38.64 crore and sales of Rs 491.51 crore for the twelve months ended on 31 March 2026.

Powered by Capital Market - Live News