Steamhouse India IPO Date, Review, Price, Allotment Details
Steamhouse India IPO is a Mainboard issue open from 9-11 Sept. The company is raising ₹414 Cr at a price band of ₹77 to ₹81 per share. One lot is 185 shares.
Grey market premium
₹0
Implied listing gain: ₹- (0.00%)
On the GMP figure: grey market premium is quoted by informal dealers. No exchange publishes it, no regulator oversees it, and it is not a forecast of the listing price. Issues quoting a strong premium have listed below their issue price. Weigh the financials and the risk factors in the RHP well above this number.
Steamhouse India IPO Analysis
Our reading of the numbers below — growth rates, margins, pricing and demand are calculated from the company's own filed figures, not copied from anywhere.
Minimum retail investment
₹14,985
185 shares at the upper band of ₹81
Retail limit
13 lots
the most that fits under the ₹2 lakh retail cap
Funds blocked after close
~6 days
from the closing date to listing
Fresh issue share
85.3%
₹353 Cr of the ₹414 Cr issue
Revenue growth
+24.2%
31 Mar 2025 → 31 Mar 2026
Profit growth
+24%
PAT ₹31.16 Cr → ₹38.64 Cr
Net profit margin
7.8%
was 7.8% in 31 Mar 2025
Debt to equity
1.57
lower is safer
Return on equity
22.36%
ROE
Promoter holding
96.59% → 78.63%
diluted by 18 percentage points
Steamhouse India is a mainboard issue raising ₹414 Cr, offered in a band of ₹77–₹81 per share. At the upper end that is 40.5 times the ₹2 face value, so ₹79 of every share subscribed is share premium rather than capital.
A retail application for Steamhouse India needs one lot of 185 shares, which works out to ₹14,985 at the upper band of ₹81. That is close to the ₹15,000 ceiling SEBI expects for a single retail lot, so an investor applying at cut-off is committing nearly the full retail limit per application. Retail applications are capped at ₹2,00,000, which here is 13 lots; bidding above that moves the application into the non-institutional category, and the large-HNI bucket begins at ₹10,00,000, or about 67 lots.
For Steamhouse India, bidding runs 9-11 Sept, allotment is finalised on 15 Sep 2026, the shares list on 17 Sep 2026. Applications that do not receive an allotment have their UPI mandate released around 4 days after the issue closes. Counting from the close of bidding, money stays blocked for roughly 6 days before listing decides what the holding is worth.
The issue is reserved 50% to qualified institutional buyers, 15% to non-institutional investors, 35% to retail. A 35% retail share is the wider end of the range, which improves the odds for small applications when the book is only modestly oversubscribed. An oversubscribed retail portion is not allotted in proportion to the amount applied for: applications are reduced to single lots and drawn by lot, so several small applications from different PANs are more effective than one large one.
The issue splits into ₹353 Cr of fresh capital (85.3%) and ₹61 Cr as an offer for sale. The company keeps the fresh portion for the objects of the issue, while the rest is existing shareholders monetising their stake.
Revenue moved from ₹398.53 Cr in 31 Mar 2025 to ₹494.97 Cr in 31 Mar 2026 (+24.2%), while profit after tax went from ₹31.16 Cr to ₹38.64 Cr (+24%). Growth in profit broadly tracks growth in revenue.
Kfin Technologies Ltd. is the registrar for this issue, which means the allotment status for Steamhouse India is published on their portal from 15 Sep 2026. A PAN, application number or demat client ID is enough to look it up; the credited shares also appear in the demat account itself a day or so before listing.
What looks good
- Return on equity of 22.36% is strong for the sector.
What to watch
- Debt to equity of 1.57 means the company carries more debt than equity.
- There is no grey market premium on this issue at present, which points to muted listing-day expectations.
This analysis is generated from the figures shown on this page and is for information only. It is not investment advice — read the RHP before you apply.
| IPO Date | 9-11 Sept |
| Face Value | ₹2 Per Share |
| Price Range | ₹77 to ₹81 |
| Issue Size | ₹414 Cr |
| Lot Size | 185 Shares |
| Allotment Date | 15 Sep 2026 |
| Listing Date | 17 Sep 2026 |
| Registrar | Kfin Technologies Ltd. |
Quota Allocation
| Category | Allocation |
|---|
| Retail Investors | 35% |
| QIB (Qualified Institutional Buyers) | 50% |
| HNI (High Net Worth Individuals) | 15% |
IPO Details
| Total Issue Size | 5,11,11,110 shares (agg. up to ₹414 Cr) |
| Fresh Issue | 4,35,80,246 shares (agg. up to ₹353 Cr) |
| Offer for Sale | 75,30,864 shares of ₹2 (agg. up to ₹61 Cr) |
| Share Holding Pre Issue | 23,28,26,065 shares |
| Share Holding Post Issue | 27,64,06,311 shares |
IPO Timetable (Tentative)
| IPO Open | Wed, Sep 9, 2026 |
| IPO Close | Fri, Sep 11, 2026 |
| Allotment | Tue, Sep 15, 2026 |
| Refund | Wed, Sep 16, 2026 |
| Credit of Shares | Wed, Sep 16, 2026 |
| Listing | Thu, Sep 17, 2026 |
Issue Reservation
| Investor Category | Shares |
|---|
| QIB | Not more than 50% of the Offer |
| Retail | Not less than 35% of the Offer |
| NII | Not less than 15% of the Offer |
IPO Lot Size
| Application | Lots | 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 |
Company Financials (Restated Consolidated)
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|
| Assets | 679.45 | 543.67 | 422.31 |
| Total Income | 494.97 | 398.53 | 293.16 |
| Profit After Tax | 38.64 | 31.16 | 27.19 |
| EBITDA | 83.49 | 69.32 | 68.41 |
| NET Worth | 163.76 | 131.00 | 102.71 |
| Reserves and Surplus | 127.57 | 87.25 | 58.35 |
| Total Borrowing | 281.62 | 222.95 | 202.71 |
| Amount in ₹ Crore |
IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|
| 1 | Repayment or prepayment of all or a portion of certain outstanding borrowings availed by Company | 180.00 |
| 2 | Funding capital expenditure requirements for augmenting infrastructure development of the Company towards capacity expansion of the Ankleshwar Facility (Phase 3 | 37.98 |
| 3 | Funding capital expenditure requirements for augmenting infrastructure development of the Company towards capacity expansion of the Panoli Facility (Phase 2 | 37.98 |
| 4 | Funding capital expenditure in relation to the setting up of a manufacturing facility for generation of steam at Dahej SEZ | 38.17 |
| 5 | General Corporate Purposes | |
| Total | 294.13 |
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 |
|---|
| ROE | 22.36% |
| ROCE | 16.06% |
| Debt/Equity | 1.57 |
| RoNW | 23.60% |
| PAT Margin | 7.81% |
| EBITDA Margin | 16.99% |
| NAV | 7.25 |
| Price to Book Value | 11.17 |
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|
| EPS (₹) | 1.66 | 1.40 |
| P/E (x) | 48.8 | 57.86 |
| Market Cap at Offer Price | ₹1,886Cr. | ₹2,238.89 Cr |
Shareholding Structure
| Category | Pre IPO | Post IPO |
|---|
| Promoter and Promoter Group | 96.59% | 78.63% |
| Public | 3.41% | 21.37% |
| Total | 100% | 100% |
Offer For Sale - Selling Shareholder
| Name | Category | No. of Shares Offered | Amount (₹ cr.) |
|---|
| Vishal Sanwarprasad Budhia | Promoter | 75,30,864 | 61.00 |
| Total | | 75,30,864 | 61.00 |
About Steamhouse India
Incorporated in June 2015, SteamHouse India is an industrial gas company specialising in the generation and centralised distribution of steam and nitrogen through its pipeline network. Its community-based systems provide industrial customers with an alternative to developing and maintaining individual infrastructure. The company has an extensive pipeline network, spans over 45 kms in key industrial hubs including like Sachin, Vapi, Ankleshwar, Sarigram, Panoli and Nadesari.
Industrial Gas Business: The company's industrial gas business includes:
Generation and distribution of steam
Purchase and distribution of steam
Separation, compression and distribution of nitrogen
SteamHouse also purchases steam from other generating entities for distribution through its pipeline network. Additionally, it separates nitrogen from atmospheric air, compresses and supplies purified nitrogen to industrial customers, while also engaging in coal trading.
The company's clients include 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 July 31, 2026, the company had 229 employees and they utilised the services of 276 contract labourers.
Leading market position offering customers an energy efficient solution across industries with high growth potential.
High barriers to entry for competitors.
Strategically located facilities offering community gas generation and distribution.
Marquee customer base with long-term relationships driven by our value proposition.
Track-record of implementing eco-friendly solutions and promoting sustainable development.
Steamhouse India IPO — common questions
What is Steamhouse India IPO?
Steamhouse India IPO is a Mainboard issue open from 9-11 Sept. The company is raising ₹414 Cr at a price band of ₹77 to ₹81 per share. One lot is 185 shares.
When does Steamhouse India IPO open and close?
The issue is open 9-11 Sept. Bids must be placed, and any UPI mandate approved, before the cut-off on the closing day.
What is the Steamhouse India IPO price band?
The price band is ₹77 to ₹81 per equity share, against a face value of ₹2. Retail investors may bid at cut-off, meaning they accept the final discovered price within this band.
What is the Steamhouse India IPO lot size?
The minimum application is 185 shares, and bids must be in multiples of that lot.
What is the Steamhouse India IPO issue size?
The total issue size is ₹414 Cr.
How is Steamhouse India IPO reserved between investor categories?
The issue is reserved as retail 35%, QIB 50%, HNI 15%. If the retail portion is oversubscribed, allotment there is decided by a lottery on lot-sized applications rather than in proportion to the amount applied for.
When is the Steamhouse India IPO allotment date?
Basis of allotment is expected to be finalised on 15 Sep 2026. You can check your status on the registrar's website (Kfin Technologies Ltd.) using your PAN.
When does Steamhouse India IPO list?
Listing is expected on 17 Sep 2026, following the T+3 timeline that applies to Indian IPOs.
