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HomeIPOSteamhouse India

About Steamhouse India

Incorporated in June 2015, Steamhouse India is a Surat-based company dealing in provision of industrial steam and gas supply.The company has a well-extended pipeline network that covers a distance of over 45 kms in various industrial zones such as Sachin, Vapi, Ankleshwar, Sarigram, Panoli and Nadesari. On November 15, 2025, the company’s total capacity of steam from the seven boilers was 345 tones per hour and hence equal to 2,185,920 tonnes per annum.On November 15, 2025, the company had a well-operational pipeline system which covered a total of 56,236 meters. Its clientele includes Aether Industries Limited, Anupam Rasayan India Limited, Globe Enviro Care limited, Gujarat Polysol Chemicals Private Limited, Devanshi Dyestuff, K. Patel Chemo Pharma Private Limited, K. Patel Dye Chem Industries Private Limited, Mahavir Synthesis Private Limited, Mangalam Intermediaries, Orgo Chem Gujarat Private Limited and Subhasri Pigments Limited. As of September 30, 2025, the company had a total strength of 213 employees in its payroll while making use of services of 292 contract labourers(136 at Ankleshwar, 50 at Nandesari, 34at Sarigam, 38 at Vapi and 34at Panoli).

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National Stock Exchange of India

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Open  Close17th Sep 2026 - 21st Sep 2026
Issue Size22561.57 Cr
Min. Qty8 Shares
Issue Price₹ 1700.00
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Issue Size22.98 Cr
Min. Qty2000 Shares
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National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
17th Sep 2026 - 21st Sep 202622561.57 Cr8 Shares₹ 1700.00
Antala Industries logo

Antala Industries

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Steamhouse India

Steamhouse India

Open Date

Sep 9, 2026

Close Date

Sep 11, 2026

listed

Min Investment

₹14,985

Lot Size

185 Shares

Issue Size

₹414 Cr

Price Range

₹77 - ₹77

Listing Date

Sep 17, 2026

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RHP PDF

Company Valuation

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The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

₹13(+16.67%)GMP
16.05%Prediction Listing Gain

Grey Market Premium (GMP) Trend

Steamhouse India IPO - Issue Objectives

The company will use ₹180 crore for repayment of certain outstanding borrowings. The company will use ₹75.95 crore for capacity expansion at its Ankleshwar and Panoli facilities. The company will use ₹38.17 crore to set up a steam generation facility at Dahej GIDC (Phase 2). Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

Repayment of borrowings

50.9%

Capital requirement for development

21.5%

Setup of steam generation facility

10.8%

General corporate purposes

16.6%

1

Repayment of borrowings

The company will use ₹180 crore for repayment of certain outstanding borrowings.

50.90%
2

Capital requirement for development

The company will use ₹75.95 crore for capacity expansion at its Ankleshwar and Panoli facilities.

21.50%
3

Setup of steam generation facility

The company will use ₹38.17 crore to set up a steam generation facility at Dahej GIDC (Phase 2).

10.80%
4

General corporate purposes

Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

16.60%

IPO Subscription Status

QIB
46.19x
NII
46.60x
Individual
17.78x
Total
32.07x

Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).

Financials of Steamhouse India

In Cr.

About Strength & Risks

Why this IPO looks interesting

Key positives investors may want to consider before applying.

01

High entry barriers

The company has its own pipeline networks in industrial clusters. Limited space in these clusters makes it difficult for new companies to set up competing pipelines.

02

Strong operating network

Steamhouse operates seven community steam boilers with a combined capacity of 345 TPH. It also has a 350 NM³/hour nitrogen facility and 60,151 metres of pipeline network connecting its facilities to customers.

03

Growing and diversified customer base

The company served 202 customers in FY26, compared with 125 in FY24, across sectors such as pharmaceuticals, chemicals, textiles, agrochemicals, tyres and polymers. Repeat customers contributed 90.7% of revenue in FY26, showing strong customer retention.

04

What investors should watch closely

Risk factors and possible pressure points around the offer.

01

Dependence on coal

Coal accounted for 77.2% of total purchases in FY26, compared with 76.1% in FY25 and 92.1% in FY24. Any increase in coal prices or shortage in supply could increase costs and affect profitability.

02

Supplier concentration

The top 10 suppliers accounted for 81.7% of total purchases in FY26, compared with 75.3% in FY25 and 76.5% in FY24. The largest supplier alone accounted for 21.1% of purchases in FY26. The company also does not have long-term supply contracts with its suppliers.

03

Contact Details

Steamhouse India

Office No. 324, Second Floor, Four Point, V.I.P. Road, Vesu, Surat, Gujarat, 395007

02612998109
info@steamhouse.in
https://steamhouse.in/

Steamhouse India IPO - FAQs

Steamhouse India IPO is a Mainboard IPO. The issue is priced at 77-₹81. The minimum order quantity is 185 Shares. The IPO opens on 9 Sep, and closes on 11 Sep. TBA is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

IPO Timeline

  • Pre Apply2026-09-08
  • Bidding Starts2026-09-09
  • Bidding Ends2026-09-11
  • Allotment Finalisation2026-09-15
  • Release of Funds2026-09-16
  • Demat Transfer2026-09-16
  • Listing2026-09-17

Expansion into new locations

Steamhouse has entered into five-year steam purchase agreements for Dahej SEZ and Haldia and expects to start operations at both locations within the next 12 months. This can help the company add new customers and increase its business.

High borrowings

Total borrowings stood at ₹281.6 crore as of March 31, 2026, compared with ₹222.9 crore in FY25 and ₹202.7 crore in FY24. The debt-to-equity ratio was 1.94x in FY26. Higher debt can increase interest costs and put pressure on cash flows.

04

Pipeline dependency

The company's business depends on rights to lay and operate pipelines connecting its facilities with customers. Any failure to obtain or renew these rights could affect its ability to supply customers.

05

Lower customer offtake

The company makes significant upfront investments in community boiler facilities. If customers reduce their steam or gas consumption, the Company may not be able to recover its investment or achieve expected profitability.