Steamhouse India IPO Opens Today: ₹414 Crore Issue, Price Band And Key Details

What Is The Steamhouse India IPO Issue Size And Structure? 

Steamhouse India’s IPO combines a fresh issue and an offer for sale, taking the total issue size to ₹414 crore. Retail investors must bid for a minimum of one lot of 185 shares, taking the minimum investment to ₹14,985 at the upper price band. Equirus Capital Ltd is the book running lead manager, and Kfin Technologies Ltd is the registrar for the issue. 

Half the issue has been reserved for qualified institutional buyers, of which 30 percentage points is set aside for anchor investors. Steamhouse India raised ₹124.20 crore from anchor investors on 8 September 2026. 

What Are The Key Dates For Steamhouse India IPO? 

The Steamhouse India IPO opened for bidding on 9 September 2026 and closes on 11 September 2026, with listing tentatively scheduled for 17 September 2026. 

What Is The Latest Subscription Status And GMP For Steamhouse India IPO? 

The Steamhouse India IPO was subscribed 0.19 times overall as of 12:38 pm on 9 September 2026, the first day of bidding. The retail portion led demand at 0.33 times, followed by non-institutional investors at 0.11 times. The qualified institutional buyer portion, excluding anchor investors, had not yet received bids. 

The grey market premium (GMP) for the issue was ₹17 as of 12:37 pm on 9 September 2026, indicating an implied listing price of ₹98 against the upper price band of ₹81, a premium of 20.99%. GMP is an unofficial, informal indicator and does not guarantee the actual listing price or future performance of the stock. 

What Does Steamhouse India Do? 

Incorporated in June 2015, Steamhouse India is an industrial gas company that generates and distributes steam and nitrogen through a pipeline network spanning more than 45 km across industrial hubs including Sachin, Vapi, Ankleshwar, Sarigram, Panoli and Nadesari. Its business includes generation and distribution of steam, purchase and distribution of steam, and separation, compression and distribution of nitrogen. 

What Is Steamhouse India’s Financial Performance? 

Steamhouse India’s total income rose around 24% to ₹494.97 crore in FY26, from ₹398.53 crore in FY25. Profit after tax increased by around 24% to ₹38.64 crore, from ₹31.16 crore. EBITDA rose to ₹83.49 crore, from ₹69.32 crore, over the same period. 

How Will Steamhouse India Use The IPO Proceeds? 

Steamhouse India plans to use the net proceeds from the fresh issue for: 

• Repayment or prepayment of outstanding borrowings (₹180 crore) 

• Capacity expansion of the Ankleshwar facility, Phase 3 (₹37.98 crore) 

• Capacity expansion of the Panoli facility, Phase 2 (₹37.98 crore) 

• Setting up a steam generation facility at Dahej SEZ (₹38.17 crore) 

• General corporate purposes for the remaining funds 

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