Summary
The Steamhouse India IPO is a mainboard book-build IPO, scheduled to open on 9 September 2026 and close on 11 September 2026.
The price band is fixed at ₹77 to ₹81 per share, with a minimum application of 1 lot (185 shares).
The company plans to list its shares on both the NSE and BSE, with the tentative listing scheduled for 17 September 2026.
The Steamhouse India IPO is a mainboard book-built issue scheduled to open for subscription on 9 September 2026 and close on 11 September 2026. The company has fixed the IPO price band at ₹77 to ₹81 per share, with a lot size of 185 shares, making the minimum retail investment ₹14,985 at the upper price band. The issue comprises a fresh issue of approximately ₹353 crore and an offer for sale of around ₹61 crore, taking the total issue size to approximately ₹414 crore. Steamhouse India plans to list its equity shares on both the NSE and BSE, with the tentative listing date set for 17 September 2026.
Steamhouse India IPO Key Details
The table below presents the essential details investors should know before applying for the Steamhouse India IPO.
| IPO Open Date | 9 September 2026 |
| Close Date | 11 September 2026 |
| Face value | ₹2 per share |
| Price Band | ₹77 to ₹81 |
| IPO Lot Size | 185 shares |
| Fresh issue | ₹353.0 cr approx |
| Offer for Sale | ₹61.0 cr approx |
| Type of issue | Book-building |
| Listing at | NSE and BSE |
| Total Issue Size (₹ Crore) | ₹414.0 cr approx |
| Minimum Investment | 1 lot or 185 shares |
Steamhouse India IPO Timeline
Below is the complete schedule of events for the Steamhouse India IPO.
| Bid Opening | 9 September 2026 |
| Bid Closing | 11 September 2026 |
| Tentative Allotment | 15 September 2026 |
| Initiation of Refunds | 16 September 2026 |
| Credit of Shares to Demat | 16 September 2026 |
| Tentative Listing Date | 17 September 2026 |
| UPI mandate closing date | 11 September 2026 |
Key Performance Indicators of Steamhouse India IPO
These financial ratios highlight the company’s profitability, capital efficiency, and overall financial performance over the past three financial years.
| 31-03-2026 | 31-03-2025 | 31-03-2024 | |
| ROE (%) | 22.36 | 23.53 | 26.26 |
| ROCE (%) | 16.06 | 17.20 | 20.24 |
| Debt Equity (in times) | 1.57 | 1.63 | 1.77 |
| RoNW (%) | 23.60 | 23.79 | 26.47 |
| PAT Margin (%) | 7.81 | 7.82 | 9.27 |
| EBITDA margin (%) | 16.99 | 17.54 | 23.45 |
| Price to book |
Steamhouse India IPO Financial Details
The Financial information of the Steamhouse India IPO is as follows.
| FY 2025-2026 | FY 2024-2025 | FY 2023-2024 | |
| Revenue | 491.51 | 395.10 | 291.71 |
| Total Asset | 679.45 | 543.66 | 422.30 |
| Profit | 38.63 | 31.16 | 27.18 |
(Amount in ₹ Crores)
Steamhouse India IPO Subscription Status
| Date | QIB (Ex Anchor) | NII | Retail | Total |
|---|---|---|---|---|
| Sep 9 (Day 1) | 0.00 | 0.32 | 0.74 | 0.44 |
| Sep 10 (Day 2) | 1.70 | 2.11 | 2.77 | 2.32 |
Steamhouse India IPO Grey Market Premium (GMP)
The current status of the Grey Market Premium for the Steamhouse India IPO shows a GMP of ₹0. Therefore, according to the status, the estimated listing price is ₹81.
| GMP Date | GMP | Est. Listing Price (cap price + GMP) | Est. Profit* | Last Updated |
|---|---|---|---|---|
| 10-09-2026 | ₹22 ▲ | ₹103 (27.16%) | ₹4,070 | 10-Sep-2026 18:55 |
| 09-09-2026 Open | ₹20 ▲ | ₹101 (24.69%) | ₹3,700 | 9-Sep-2026 23:31 |
| 08-09-2026 | ₹18 ▲ | ₹99 (22.22%) | ₹3,330 | 8-Sep-2026 23:31 |
| 07-09-2026 | ₹0 ─ | ₹81 (0.00%) | ₹0 | 7-Sep-2026 23:37 |
| 06-09-2026 | ₹0 ─ | ₹ (0.00%) | 6-Sep-2026 5:55 | |
| 05-09-2026 | ₹0 ─ | ₹ (0.00%) | 5-Sep-2026 5:55 | |
| 04-09-2026 | ₹0 ─ | ₹ (%) | 4-Sep-2026 9:40 |
GMP is the premium value of the IPO share in the unofficial market before it opens for subscription.
Steamhouse India IPO Reservation
The following table shows the distribution of shares reserved for retail investors, QIBs, and NIIs under the IPO.
| Investor Category | Offered No. of Shares |
| QIBs | Not more than 50% of the net offer |
| NIIs | Not less than 15% of the net offer |
| Retails | Not less than 35% of the net offer |
| Total |
Steamhouse India IPO Lot Sizes
Investors can refer to the minimum and maximum investment requirements for each investor category as per the prescribed lot size.
| Application | Lot | 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 |
Steamhouse India IPO Prospectus
Investors can access the offered prospectus for the Steamhouse India IPO mentioned below.
About Steamhouse India Ltd.
Steamhouse India Limited was originally incorporated as Ankleshwar Eco Energy Limited in Gujarat in 2015 and was subsequently renamed Steamhouse India Limited in 2021. The company is engaged in supplying steam and industrial gases to industrial customers located close to its generation facilities. Its business model is based on community boilers and pipeline distribution, enabling customers to source steam without having to operate their own individual steam-generation facilities. The company has established facilities around industrial clusters in Gujarat and has developed dedicated pipeline infrastructure to supply steam and gases to customers.
Promoters:
- Vishal Sanwarprasad Budhia
- Ritu Budhia
- VSB Business Trust
- Budhia Business Trust
- VB Business Trust
| Book Runner | Equirus Capital Ltd. |
| Issue Registrar | Kfin Technologies Ltd. |
Purpose of Steamhouse India IPO
The company intends to deploy the funds raised through this public issue toward specific operational and strategic goals, as detailed in the table below.
| Particulars | Estimated Amount in ₹ Crores |
| Funding capital expenditure for infrastructure development | 75.95 |
| Funding capital expenditure for setting up a manufacturing facility | 38.17 |
| Repayment of outstanding borrowings | 180.0 |
| General corporate purpose | _ |
| Total | 294.13 |
Steamhouse India Ltd.- Strengths and benefits
- Long-term customer relationships: The company has built relationships with industrial customers across sectors including chemicals, pharmaceuticals, textiles and agrochemicals. Its repeat-order business provides a degree of revenue visibility.
- Strategic location of facilities: The company’s facilities are positioned near industrial clusters and ports in Gujarat. This proximity allows Steamhouse India to serve nearby customers efficiently and supports its pipeline-based distribution model.
- First-mover advantage in community boilers: Steamhouse India has established a presence in India’s community boiler segment. Its dedicated pipeline infrastructure and experience in supplying steam to industrial customers create entry barriers for new competitors.
Steamhouse India Ltd- Risks and limitations
- Customer concentration: A significant share of revenue comes from the company’s leading customers. The top 10 customers accounted for around 47.87% of revenue from operations in FY2026, making the company vulnerable to the loss or reduction of business from major customers.
- Regulatory and environmental risks: The company requires various approvals and permits for its operations. Past regulatory and compliance matters involving pollution-control requirements could expose it to penalties, additional costs or operational restrictions if compliance issues arise.
- Dependence on coal: Coal is an important input for the company’s steam-generation operations. Any increase in coal prices or disruption in its availability could raise operating costs and affect profitability.
Steamhouse India IPO Review
The Steamhouse India IPO is a mainboard book-built issue of approximately ₹414 crore, consisting of a fresh issue of around ₹353 crore and an offer for sale of approximately ₹61 crore. The price band is set at ₹77–₹81 per share, while the IPO lot contains 185 shares. At the upper price band, retail investors need a minimum of ₹14,985 to apply for one lot. The company intends to list its shares on the NSE and BSE, with the tentative listing scheduled for 17 September 2026.
The Steamhouse India IPO GMP is currently ₹0 as of 8 September 2026. This indicates no premium over the upper issue price in the unofficial market at the time of the latest update. GMP is unofficial and can change quickly, so investors should not treat it as a reliable indicator of the actual listing price.
Other recent IPO List
Explore the listing information of other currently active and upcoming public issues in India.
| Glass Wall Systems (India) IPO | Pranav Constructions IPO |
| Farm Peace IPO | Deepa Jewellers IPO |
| Paluck Technologies IPO | Ashutosh Fibre IPO |
| Phychem Technologies IPO | Purple Style Labs IPO |
Steamhouse India IPO FAQs
The Steamhouse India IPO is a mainboard book-built IPO of approximately ₹414 crore. It consists of a ₹353 crore fresh issue and a ₹61 crore offer for sale.
Investors can apply through their broker or trading platform using the IPO application facility. UPI-based applications can be submitted by selecting the Steamhouse India IPO and authorising the UPI mandate before the closing date.
The IPO has potential strengths such as Steamhouse India’s established community-boiler business, pipeline infrastructure, industrial customer base and expansion plans. However, investors should also consider customer concentration, coal dependence, regulatory risks, geographic concentration and debt before making an investment decision.
The Steamhouse India IPO is scheduled to open on 9 September 2026 and close on 11 September 2026.
The IPO lot size is 185 shares. At the upper price band of ₹81, one lot requires an investment of ₹14,985.
The tentative allotment date is 15 September 2026. Refunds and credit of shares to eligible investors’ demat accounts are scheduled for 16 September 2026.
The Steamhouse India shares are tentatively scheduled to be listed on the NSE and BSE on 17 September 2026.
