GMP IPO Watch
Steamhouse India IPO
Steamhouse India IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
Steamhouse India IPO Details
Key facts at a glance| IPO Open Date | 8 September 2026 | IPO Close Date | 10 September 2026 |
|---|---|---|---|
| Basis of Allotment | 14 September 2026 | Listing Date | 16 September 2026 |
| Price Band | ₹77 - ₹81 per share | Face Value | ₹10 per share |
| Market Lot Size | 185 Shares | Min Investment (Retail) | ₹14,985 |
| Total Issue Size | ₹414 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | ₹353 Cr | Offer for Sale (OFS) | ₹61 Cr |
| Listing At | BSE, NSE | Issue Category | Mainboard Issue |
| Registrar | Kfin Technologies Ltd. | ||
Steamhouse India IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 8 September 2026 | Confirmed |
| IPO Close Date | 10 September 2026 | Confirmed |
| Basis of Allotment | 14 September 2026 | Tentative |
| Initiation of Refunds | 16 September 2026 | Tentative |
| Credit of Shares to Demat | 16 September 2026 | Tentative |
| IPO Listing Date | 16 September 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 11 September 2026 (5:00 PM) | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
Steamhouse India IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 1 Lot | 185 Shares | ₹14,985 |
| Retail (Max) | 13 Lots | 2,405 Shares | ₹1,94,805 |
| S-HNI (Min) | 14 Lots | 2,590 Shares | ₹2,09,790 |
| S-HNI (Max) | 66 Lots | 12,210 Shares | ₹9,89,010 |
| B-HNI (Min) | 67 Lots | 12,395 Shares | ₹10,03,995 |
Steamhouse India IPO Live GMP & Movement History
Daily unofficial grey market trends₹16 +19.8%
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 16 Sept 2026 | ₹20 | ₹101.00 | +24.69% |
| 11 Sept 2026 | ₹23 | ₹104.00 | +28.40% |
| 10 Sept 2026 | ₹20 | ₹101.00 | +24.69% |
| 9 Sept 2026 | ₹18 | ₹99.00 | +22.22% |
| 7 Sept 2026 | ₹0 | ₹81.00 | 0.00% |
| 6 Sept 2026 | ₹0 | ₹81.00 | 0.00% |
Steamhouse India IPO Subscription Status
Demand breakdown by investor categorySteamhouse India Company Financials
Restated figures (₹ in Crores)| Period | Total Assets | Total Revenue | Total Expenses | Profit After Tax (PAT) |
|---|---|---|---|---|
| 2024 | 422.31 Cr. | 293.16 Cr. | 249.85 Cr. | 27.19 Cr. |
| 2025 | 543.67 Cr. | 398.53 Cr. | 359.56 Cr. | 31.16 Cr. |
| 2026 | 679.45 Cr. | 494.97 Cr. | 443.74 Cr. | 38.64 Cr. |
* Amounts reported in ₹ Crores as sourced from company regulatory filings (RHP/DRHP).
Steamhouse India IPO Valuation & KPIs
Key metrics pre-issueSteamhouse India Peer Group Comparison
Listed industry peers| Company Name | P/E | EPS (₹) | RoNW (%) | NAV (₹) | Total Income |
|---|---|---|---|---|---|
| Linde India Limited | 99.17 | 64.37 | 12.87% | 500.27 | 2530.64 Cr. |
| Ellenbarrie Industrial Gases Limited | 42.74 | 7.54 | 10.68% | 69.33 | 341.58 Cr. |
About Steamhouse India
Steamhouse India operates large-scale centralized community boilers to generate and distribute steam and other industrial gases through a distributed pipeline network. The company primarily serves industrial clusters in Gujarat, utilizing coal and non-fossil fuels such as plastic waste, textile waste, and agro-waste for its waste-to-energy facilities. It offers a flexible plug-and-play solution where industrial customers control their consumption through on-site valves, paying based on actual usage or minimum contractual obligations. Revenue is primarily generated through the sale of steam and nitrogen under short- to long-term contracts ranging from one to ten years, which include fixed and variable cost components. Additionally, the company generates revenue through coal trading by selling excess imported coal in the open market and co-generates electricity to operate its own boiler facilities.
Key Strengths
- High customer retention with long-term supply contracts spanning up to ten years.
- A flexible plug-and-play solution allows customers to pay based on actual consumption.
- Strategic facility locations near major industrial clusters in Gujarat reduce transmission losses.
- Integration of non-fossil fuels like plastic and agro-waste to reduce environmental impact.
- Consistent revenue growth driven by a high volume of repeat orders and established infrastructure.
Key Risks
- Revenue is heavily concentrated, with the top ten customers contributing 47.87% of operations.
- Profitability is substantially dependent on the price and availability of imported coal.
- Geographic concentration in Gujarat makes operations highly vulnerable to local regulatory changes.
- Significant reliance on related party transactions with group companies for both sales and purchases.
- Past non-compliances with pollution control board approvals could result in future operational penalties.
Steamhouse India IPO Reservation & Share Quotas
The Steamhouse India IPO reservation is divided among Qualified Institutional Buyers, Non-Institutional Investors and Retail Investors. The issue also includes a dedicated allocation for Anchor Investors before the IPO opens for public subscription.
| Investor Category | Share Offered | % Shares |
|---|---|---|
| Anchor Investor | 1,53,33,332 Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: The reservation percentages and share allocation are based on the information provided for the Steamhouse India IPO.
Steamhouse India IPO Anchor Investors
The Steamhouse India IPO anchor bidding is scheduled for September 8, 2026, ahead of the public issue opening. A total of 1,53,33,332 shares have been allocated for Anchor Investors, with the applicable lock-in period details provided below.
| Particular | Details |
|---|---|
| Anchor Bidding Date | September 8, 2026 |
| Anchor Investors List | |
| Shares Offered | 1,53,33,332 Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date 50% Shares (90 Days) | 2026 |
Note: Anchor bidding and lock-in details are based on the information provided for the Steamhouse India IPO.
Steamhouse India IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 09 Sept 2026 |
| IPO Close Date | 11 Sept 2026 |
| Basis of Allotment | 15 Sept 2026 |
| Refunds | 16 Sept 2026 |
| Credit to Demat Account | 16 Sept 2026 |
| IPO Listing Date | 17 Sept 2026 |
Note: The timeline for स्टीमहाउस इंडिया IPO is tentative and subject to change.
Steamhouse India Promoters and Shareholding Pattern
The promoters of Steamhouse India are Vishal Sanwarprasad Budhia, Ritu Budhia, V SB Business Trust, Budhia Business Trust and VB Business Trust. The promoter and promoter group held 98.69% of the company before the IPO, which is expected to reduce to 79.94% after the issue.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 223,013,075 | 98.69% | 215,482,211 | 79.94% |
| Others* | 2,963,675 | 1.31% | 54,074,785 | 20.06% |
| Total | 225,976,750 | 100% | 269,556,996 | 100% |
Note: The holding pattern is based on the shareholding figures provided for the Steamhouse India IPO.
Steamhouse India Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Purpose | INR crores (%) |
| Repayment or prepayment of outstanding borrowings | 180 (50.99%) |
| Capacity expansion of the Ankleshwar Facility (Phase 3) | 37.98 (10.76%) |
| Capacity expansion of the Panoli Facility (Phase 2) | 37.98 (10.76%) |
| Manufacturing facility for generation of steam at Dahej SEZ | 38.17 (10.81%) |
| General corporate purposes | 58.87 (16.68%) |
Note: Objectives are as specified in the DRHP/RHP documents of स्टीमहाउस इंडिया.
Steamhouse India About the IPO
SteamHouse India, founded in June 2015, is an Industrial gas company that supplies steam and nitrogen gas through its pipeline network. The company has a pipeline network that covers over 45 kms in key industrial hubs, including Sachin, Vapi, Ankleshwar, Sarigram, Panoli, and Nadesari.
The company’s industrial gases include generating and distributing steam, buying and supplying steam, and supplying nitrogen through pipelines. Steamhouses acquires steam from other companies and supplies it to customers through its pipeline. Moreover, it takes nitrogen from the air, separates it, compresses it, and then supplies it. Aether Industries Limited, Anupam Rasayan India Limited, Globe Enviro Care Limited, Gujarat Polysol Chemicals Private Limited, Devanshi Dyestuff, and K. Patel Chemo Pharma Private Limited are some of its well-known clients.
Steamhouse India Company Financial Report
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 293.16 Cr. | 249.85 Cr. | 27.19 Cr. | 422.31 Cr. |
| 2025 | 398.53 Cr. | 359.56 Cr. | 31.16 Cr. | 543.67 Cr. |
| 2026 | 494.97 Cr. | 443.74 Cr. | 38.64 Cr. | 679.45 Cr. |
Note: Financial numbers for स्टीमहाउस इंडिया are in ₹ Crores unless stated otherwise.
Steamhouse India Company Valuation & Key Performance Indicators
| KPI | Values |
|---|---|
| ROE | 22.36% |
| ROCE | 16.06% |
| EBITDA Margin | 16.99% |
| PAT Margin | 7.81% |
| Debt to Equity Ratio | 1.57 |
| Earning Per Share (EPS) | 1.71 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 23.60% |
| Net Asset Value (NAV) | 7.25 |
Note: Valuation KPIs for स्टीमहाउस इंडिया are computed for FY2026.
Steamhouse India Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Linde India Limited | 64.37 | 99.17 | 12.87% | 500.27 | 2530.64 Cr. |
| Ellenbarrie Industrial Gases Limited | 7.54 | 42.74 | 10.68% | 69.33 | 341.58 Cr. |
Note: Peer group comparisons for स्टीमहाउस इंडिया are sourced from DRHP filings.
Steamhouse India Lead Managers & Merchant Bankers
- Equirus Capital Ltd.
Steamhouse India IPO FAQs
Steamhouse India IPO opens for subscription on 8 September 2026 and closes on 10 September 2026.
The price band for Steamhouse India IPO is set at ₹77.00 to ₹81.00 per share.
The minimum market lot size is 185 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 185 Shares (₹14,985).
The latest Grey Market Premium (GMP) for Steamhouse India IPO is ₹16. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for Steamhouse India IPO is tentatively scheduled for 14 September 2026, and shares are expected to list on the stock exchanges on 16 September 2026.
Kfin Technologies Ltd. is the official registrar for Steamhouse India IPO. Investors can check their IPO allotment status directly on the registrar's portal once finalized.