Steamhouse India Limited has announced the opening of its initial public offering (IPO) of equity shares with a face value of ₹2 each. The IPO will open for subscription on Wednesday, September 9, 2026, and close on Friday, September 11, 2026. The Anchor Investor bidding will take place on Tuesday, September 8, 2026, one working day prior to the opening of the offer.
The price band for the IPO has been fixed at ₹77 to ₹81 per equity share. Investors can bid for a minimum of 185 equity shares and in multiples of 185 shares thereafter. The total offer size is up to ₹414 crore, comprising a fresh issue of equity shares aggregating up to ₹353 crore and an offer for sale of equity shares worth up to ₹61 crore by the selling shareholder.
Steamhouse India plans to utilise the net proceeds from the fresh issue towards repayment or prepayment of a portion or all of certain outstanding borrowings, capital expenditure for infrastructure development and capacity expansion at its Ankleshwar Facility under Phase 3 and Panoli Facility under Phase 2, and the establishment of a new manufacturing facility for steam generation at Dahej GIDC under Phase 2. A portion of the proceeds will also be used for general corporate purposes.
Steamhouse India specialises in the generation and centralised distribution of industrial gases, including steam and nitrogen, through an extensive pipeline network. The company and its promoters are pioneers of the community boiler system in India, which was introduced in 2014. Its community-based industrial gas generation and distribution model enables multiple industrial customers to receive gas through a shared pipeline network, providing an alternative to individual customers maintaining their own generation infrastructure.
The company’s industrial gas operations encompass steam generation and distribution, purchase and distribution of steam, and the 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, further expanding its industrial gas capabilities.
The IPO is being undertaken through the Book Building Process in accordance with applicable provisions of the Securities and Exchange Board of India (SEBI) regulations. The offer includes allocations for Qualified Institutional Buyers, Non-Institutional Bidders and Retail Individual Bidders, subject to the applicable regulatory framework and valid bids received at or above the offer price. Up to 60% of the QIB Portion may be allocated to Anchor Investors on a discretionary basis in consultation with the Book Running Lead Manager.
All bidders other than Anchor Investors are required to participate through the Application Supported by Blocked Amount (ASBA) process, with the corresponding bid amount blocked in their bank accounts. Anchor Investors are not permitted to participate through the ASBA mechanism.
The equity shares of Steamhouse India Limited are proposed to be listed on BSE Limited and the National Stock Exchange of India Limited. Equirus Capital Limited, formerly known as Equirus Capital Private Limited, is the sole Book Running Lead Manager to the offer.
