Steamhouse India IPO to Open on September 9; Price Band Set at ₹77–81
₹414-crore issue to fund debt repayment and capacity expansion
Bilkul Bazaar
Ahmedabad
Steamhouse India Limited will open its initial public offering (IPO) for subscription on Wednesday, September 9, 2026. The issue will close on Friday, September 11, 2026, while the Anchor Investor Bidding Date is September 8, 2026.
The company has fixed the price band at ₹77 to ₹81 per equity share, with a face value of ₹2 per share.
Fresh Issue of ₹353 Crore, OFS of ₹61 Crore
The total IPO size is ₹414 crore, comprising:
- Fresh Issue: Up to ₹353 crore
- Offer for Sale: Up to ₹61 crore by the selling shareholder
The company plans to use the net proceeds from the fresh issue primarily for repayment or prepayment of certain outstanding borrowings and for capital expenditure.
Funds to Support Capacity Expansion
A portion of the proceeds will be used to augment infrastructure and manufacturing capacity, including:
- Expansion of the Ankleshwar Facility – Phase 3
- Expansion of the Panoli Facility – Phase 2
- Setting up a new steam-generation manufacturing facility at Dahej GIDC – Phase 2
- General corporate purposes
Steamhouse’s Community Boiler Model
Steamhouse India specialises in the generation and centralised distribution of industrial gases, including steam and nitrogen, through a pipeline network.
The company and its promoters pioneered the community boiler system in India, introduced in 2014. Under this model, industrial customers receive gases through a common pipeline network instead of maintaining individual generation infrastructure.
The company’s industrial gas business includes steam generation and distribution, purchase and distribution of steam, and separation, compression and distribution of nitrogen.
Steamhouse commenced its first nitrogen-supply facility in February 2025 through a distributed pipeline network at its Ankleshwar facility.
Minimum Bid of 185 Shares
Investors can bid for a minimum of 185 equity shares, and thereafter in multiples of 185 shares.
At the upper price band of ₹81, the minimum application value would be ₹14,985.
Retail Investors to Get at Least 35% Allocation
Under the issue structure, not less than 35% of the offer will be available for Retail Individual Bidders, while not less than 15% will be available for Non-Institutional Bidders.
Not more than 50% of the offer will be available for allocation to Qualified Institutional Buyers (QIBs).
Bidders other than Anchor Investors are required to participate through the ASBA process, with UPI applicable to eligible UPI bidders.
Listing on BSE and NSE
The equity shares are proposed to be listed on both the BSE and NSE.
Equirus Capital Limited is the sole Book Running Lead Manager (BRLM) to the issue.
IPO Snapshot
| Particulars | Details |
|---|---|
| Company | Steamhouse India Limited |
| IPO Opens | September 9, 2026 |
| IPO Closes | September 11, 2026 |
| Anchor Bidding | September 8, 2026 |
| Price Band | ₹77–81 per share |
| Face Value | ₹2 per share |
| Total Issue Size | ₹414 crore |
| Fresh Issue | ₹353 crore |
| Offer for Sale | ₹61 crore |
| Minimum Bid | 185 shares |
| Minimum Investment at ₹81 | ₹14,985 |
| Listing | BSE & NSE |
| BRLM | Equirus Capital Limited |
Bilkul Bazaar Snapshot
Steamhouse India is coming with a ₹414-crore IPO at a price band of ₹77–81 per share. The company will raise ₹353 crore through a fresh issue and ₹61 crore through an offer for sale. Fresh-issue proceeds will be directed towards debt reduction, expansion of existing facilities and a new steam-generation facility at Dahej.