Steamhouse IPO
Open TodayMainboardOpens 9 September 2026Closes 11 September 2026
Incorporated in June 2015, Steamhouse India Limited is an industrial steam and gas supplier based in Surat, Gujarat. The company pioneers the 'Steam as a Service' (SaaS) model in India, setting up community boiler…
Incorporated in June 2015, Steamhouse India Limited is an industrial steam and gas supplier based in Surat, Gujarat. The company pioneers the 'Steam as a Service' (SaaS) model in India, setting up community boiler facilities close to industrial hubs to supply energy-efficient steam via dedicated pipeline networks, allowing industries to outsource their steam requirements. Operating six owned and one leased community steam boilers, the company maintains a 56,236-meter operational pipeline network spanning critical industrial clusters including Sachin, Vapi, Ankleshwar, Sarigam, Panoli, and Nandesari in Gujarat. With a combined steam capacity of 345 tonnes per hour (2,185,920 TPA) as of November 2025, Steamhouse has also ventured into industrial nitrogen generation, starting pipeline-based nitrogen supply at its Ankleshwar facility.
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Key ratios
As per RHP / filingsTimeline
IPO Opens
9 Sept
IPO Closes
11 Sept
Allotment
15 Sept
Listing
17 Sept
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 9 September 2026 |
| IPO Close Date | 11 September 2026 |
| Allotment Date | 15 September 2026 |
| Listing Date | 17 September 2026 |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,985 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,94,805 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,09,790 |
SHNI (Max)Below ₹10,00,000 | 66 | ₹9,89,010 |
BHNIAbove ₹10,00,000 | 67 | ₹10,03,995 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 50.00% |
| NII (Non-Institutional Investor) | 15.00% |
| SHNI (Small Non-Institutional Investor) | 5.00% |
| BHNI (Big Non-Institutional Investor) | 10.00% |
| Retail | 35.00% |
| Total | 100.00% |
IPO Objectives
- Repayment or prepayment of all or a portion of certain outstanding borrowings availed by Company (₹180.00 Cr).
- Funding capital expenditure requirements for augmenting infrastructure development towards capacity expansion of the Ankleshwar Facility (Phase 3) (₹37.98 Cr).
- Funding capital expenditure requirements for augmenting infrastructure development towards capacity expansion of the Panoli Facility (Phase 2) (₹37.98 Cr).
- Funding capital expenditure in relation to the setting up of a manufacturing facility for generation of steam at Dahej SEZ (₹38.17 Cr).
- General Corporate Purposes.
Strengths
- Pioneer in the 'Steam as a Service' community boiler model in India, offering a scalable, energy-efficient solution to industrial hubs.
- High barriers to entry due to significant capital investment requirements, complex pipeline infrastructure rights-of-way, and regulatory approvals.
- Marquee customer base with strong retention, recording 90.72% of FY26 operational revenue from repeat orders.
- Demonstrated financial growth trajectory, with operating revenue growing at a steady pace to reach ₹491.51 Cr in FY26 while implementing eco-friendly waste-to-energy solutions.
Weaknesses
- High customer concentration, with the top 10 customers contributing 47.87% of total revenue from operations in FY26.
- Operations are strictly limited to providing steam and gases to customers within the immediate proximity of the established pipeline networks.
- Substantial dependence on coal availability and price volatility, with coal purchases constituting 77.29% of total raw material purchases in FY26.
- Elevated indebtedness, resulting in a debt-to-equity ratio of 1.57x and exposing the company to interest rate risks and restrictive financial covenants.
Financial Performance
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets (₹ Cr.) | 679.45 | 543.67 | 422.31 |
| Revenue (₹ Cr.) | 494.97 | 398.53 | 293.16 |
| PAT (₹ Cr.) | 38.64 | 31.16 | 27.19 |
| Net Worth (₹ Cr.) | 172.77 | 132.45 | 103.55 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Steamhouse India | 10.92 | 57.86 | 22.36% | 172.77 |
| Ellenbarrie Industrial Gases | 4.75 | 37.59 | 10.68% | 67.69 |
| Linde India Limited | 12.72 | 99.33 | 12.87% | 500.3 |
Subscription Details
Daily Bids Status
| Category | Day 1 |
|---|---|
| QIB | 0x |
| NII | 0.22x |
| S-HNI | 0.45x |
| B-HNI | 0.11x |
| RII | 0.6x |
| Total | 0.35x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 1,02,22,223 | 7,770 | 0.06 |
| NII | 76,66,667 | 17,23,090 | 13.96 |
| Small NII | 25,55,556 | 11,57,730 | 9.38 |
| Big NII | 51,11,111 | 5,65,360 | 4.58 |
| RII | 1,78,88,889 | 1,07,62,005 | 87.17 |
| Total | 3,57,77,779 | 1,24,92,865 | 101.19 |
Company Details
- Steamhouse India Limited
- Office No. 324, Second Floor, Four Point, V.I.P. Road, Vesu, Surat-395007, Gujarat, India
- +91 261 2998109
- compliance@steamhouse.in
- https://steamhouse.in/
Registrar Details
- KFin Technologies Limited
- +91 40 671 62222
- steamhouse.ipo@kfintech.com
- https://www.kfintech.com
Frequently Asked Questions
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Steamhouse IPO News & Updates
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Steamhouse IPO IPO Pages
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Steamhouse IPO Details
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Steamhouse IPO GMP
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Steamhouse IPO Subscription
QIB, NII, Retail, SHNI and BHNI subscription
Steamhouse IPO Allotment
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Steamhouse IPO Review
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Steamhouse IPO FAQ
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Steamhouse IPO Registrar
Registrar website and how to check allotment
Steamhouse IPO Timeline
Open, close, allotment, and listing dates
Steamhouse IPO News
Updates, blogs, and latest IPO news
Sources
We match Steamhouse IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- KFin Technologies LimitedOfficial site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.