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Steamhouse India Ltd
MiscellaneousIPO
Price TBA
Founded in 2015, Steamhouse India pioneered the centralized community boiler model in India, producing and distributing high-pressure process steam to industrial clusters through dedicated pipeline networks. The company aggregates industrial heating demand across clustered manufacturing estates to replace individual factory boilers with an outsourced utility service that passes through fuel costs and locks in long-term customer volume.
LotTBAMin InvestTBAFace Value₹2Issue Size₹414 CrFresh Issue₹353 CrOffer for Sale₹61 Cr
Timeline
9 Sept
Bidding opens
11 Sept
Bidding closes
15 Sept
Allotment
16 Sept
Refund & demat credit
17 Sept
Listing
Subscription
Subscription opens 9 Sept
Reports
Offer Details
Terms
Issue Size₹414 Cr
Fresh Issue₹353 Cr
Offer for Sale₹61 Cr
Face Value₹2
Lot SizeTBA
Application Sizes
Available once the price band is announced.
Managers & Registrar
Lead ManagerEquirus Capital Private Limited
RegistrarKFin Techologies Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group95.78%0%Public4.22%100%
Objects of the Issue
- Repayment or prepayment of all or a portion of certain outstanding borrowings availed by its Company
- Funding capital expenditure requirements for augmenting infrastructure development of the Company towards
- Funding capital expenditure in relation to the setting up of a manufacturing facility for generation of steam
- General corporate purposes
Anchor Book
Bid Date08-Sep-2026
Strengths & Risks
Strengths · as stated in the DRHP
- 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.
- Experienced Promoters and senior management team with strong industry expertise and extensive product knowledge.
Strategies · as stated in the DRHP
- Expanding our capacity by setting up new facilities in and outside Gujarat.
- Continue to diversify our business offerings.
- Continue to focus on operational efficiency and reduction of our operating expenses.
- Improve our debt profile.
- Reduce our carbon footprint.
Risks · as stated in the DRHP
- Our operations are limited to providing steam and other industrial gases to customers in close proximity to our facilities. Further, our business and growth plans are dependent on our ability to find suitable land for the development of our steam and other industrial gas facilities which are in close proximity to the industrial clusters where our potential customers are located.
- Our top ten customers contributed 47.87% of our revenue from operations in Fiscal 2026. We also derive a significant portion (90.72% in Fiscal 2026) of our revenue from operations from repeat orders. Loss of any of these customers or a reduction in purchases or repeat orders by any of them could adversely affect our business, results of operations, cash flows and financial condition
- Our business and profitability are substantially dependent on the availability of coal for our steam production with purchases of coal contributing 77.29%, 76.19% and 92.01% of our total purchases for Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively
- We have previously entered into related party transactions with Group Companies, which constituted 99.27% of total related party transactions in Fiscal 2026. We may continue to enter into related party transactions with Group Companies in the future.
- We have previously entered into related party transactions, and we may continue to do so in the future.
- We rely on our top ten suppliers for our material requirements which constituted 81.71%, 75.35% and 76.53%, of our overall purchases in Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively. Any increase in the prices, availability and quality of materials or loss of these suppliers could adversely affect our reputation, business, results from operations, financial conditions and cash flows.