Steamhouse India's ₹414 crore IPO is set to finalise allotment today, September 15, with shares scheduled to list on September 17 on both BSE and NSE. The issue was subscribed 30.49 times overall, with investors placing bids for 114.75 crore equity shares against 3.76 crore shares on offer during the three-day bidding period from September 9-11. The grey market premium has moderated from previous levels, with latest GMP at ₹24 per share on September 15, implying an estimated listing price of ₹105 at the upper price band, representing a potential premium of around 29.63%. The retail investor portion was subscribed 16.90 times, while the Non-Institutional Investors (NIIs) category saw 44.30 times subscription and Qualified Institutional Buyers (QIBs) subscribed 43.91 times their allotted portion.
The IPO comprises a fresh issue of ₹353 crore and an Offer for Sale (OFS) worth ₹61 crore, with a price band fixed at ₹77-₹81 per equity share. As reported by The Economic Times, the company's profitability improved significantly with profit after tax (PAT) climbing 24% from ₹31.16 crore in FY25 to ₹38.64 crore in FY26. Additional proceeds of ₹180 crore will be used to repay debt, with ₹75.9 crore earmarked for capacity expansion at Ankleshwar and Panoli facilities, and the remaining funds allocated for general corporate purposes. Equirus Capital Ltd. serves as the book-running lead manager while Kfin Technologies Ltd. acts as the registrar. Before the IPO opened, the company raised ₹124.2 crore from six anchor investors, allotting 1.53 crore shares at ₹81 apiece.
Steamhouse India operates a pipeline network spanning more than 45 km across key industrial hubs including Sachin, Vapi, Ankleshwar, Sarigam, Panoli and Nadesari. According to The Economic Times, the company provides steam generation and distribution, steam procurement and distribution, nitrogen separation, compression and supply, as well as coal trading. SteamHouse serves clients including Aether Industries, Anupam Rasayan India, Globe Enviro Care, Gujarat Polysol Chemicals and other industrial customers. As of July 31, 2026, the company employed 229 employees and 276 contract workers. The company specialises in the generation and centralised distribution of industrial gases, including steam and nitrogen, through pipeline networks, offering an alternative to individual on-site generation or storage systems.
The share allotment status for Steamhouse India IPO is expected to be finalised today, September 15, with shares scheduled to list on September 17 on BSE and NSE. Investors can check their allotment status through multiple channels - KFin Technologies by selecting 'Steamhouse India Ltd.' and choosing identification options, NSE by choosing 'Equity & SME IPO bid details' and selecting company symbol 'STEAMHOUSE', or BSE by selecting 'Equity' issue type and entering PAN or application number. The company is expected to process refunds for non-allottees on September 16, with shares being transferred to Demat accounts of allottees on the same day. Steamhouse India, incorporated in 2017, specializes in steam generation and distribution services to industrial customers across Gujarat's key manufacturing hubs.
