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₹81 - 81Day cells show that day's addition; Now is the running total. Amounts at the upper price band.
Steamhouse India Ltd
MiscellaneousIPO
₹81 - 81
We are an Indian company specializing in the generation and centralized distribution of industrial gases, including steam and nitrogen, through our pipeline network. We and our Promoters are pioneers of the community boilersystem in India, which was first introduced in 2014. Our community industrial gasgeneration and distribution systems provide gas to various industrial customers from a pipeline network, which provides an alternative to each individual customer having its own infrastructure.
Lot185Min Invest₹14,985Face Value₹2Issue Size₹414 CrFresh Issue₹353 CrOffer for Sale₹61 CrListing Price₹95CMP₹132
Timeline
9 Sept
Bidding opens
11 Sept
Bidding closes
15 Sept
Allotment
16 Sept
Refund & demat credit
17 Sept
Listing
Subscription · As of 8:00 PM, 11 Sept
Demand by day
CategoryDay 1Day 2Day 3Now+0.00x+1.62x+42.28x43.9x+0.30x+1.70x+42.30x44.3x+0.70x+1.93x+14.27x16.9xOverall+0.42x+1.79x+28.28x30.5x
Shares & amount
CategorySubscriptionShares OfferedShares BidAmt ₹ CrQIB43.9x2.56 Cr112.20 Cr9,088.38NII44.3x76.67 L33.96 Cr2,750.89Retail16.9x1.79 Cr30.24 Cr2,449.45Total30.5x5.11 Cr155.84 Cr12,622.86
Reports
Offer Details
Terms
Issue Size₹414 Cr5.11 Cr shares
Fresh Issue₹353 Cr
Offer for Sale₹61 Cr
Face Value₹2
Lot Size185 shares
ReservationQIB 50% · NII 15% · RETAIL 35%
Application Sizes
Retail₹14,9851-13 lots
sNII₹2,09,790from 14 lots
bNII₹10,03,995from 67 lots
Managers & Registrar
Lead ManagerEquirus Capital Private Limited
RegistrarKFin Techologies Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrVishal Sanwarprasad BudhiaPRMTR75,30,86461.00Total75,30,86461.00
Shareholding
CategoryPre IPOPost IPOPromoter Group95.78%77.97%Public4.22%22.03%
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-2026Bid Price₹81Shares1,53,33,332Amount₹124 Cr30-day lock-in14-Oct-202690-day lock-in13-Dec-2026
Financials
Profit & Loss
| Financial Year | FY25 | FY26 |
|---|---|---|
| RevenueCr | 395 | 492 |
| Operating ProfitCr | 69 | 83 |
| OPM% | 17.5 | 17.0 |
| PBTCr | 39 | 51 |
| PATCr | 31 | 39 |
| EPS | 1 | 2 |
Balance Sheet
| Financial Year | FY25 | FY26 |
|---|---|---|
| Equity CapitalCr | 45 | 45 |
| ReservesCr | 87 | 128 |
| BorrowingsCr | 271 | 335 |
| Total AssetsCr | 544 | 679 |
Cash Flow
| Financial Year | FY25 | FY26 |
|---|---|---|
| Operating Cash FlowCr | 107 | 100 |
| Investing Cash FlowCr | -123 | -145 |
| Financing Cash FlowCr | 12 | 48 |
| Net Cash FlowCr | -4 | 4 |
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
- The company operations are limited to providing steam and other industrial gases to customers in close proximity to its facilities. Further, the company's business and growth plans are dependent on its ability to find suitable land for the development of the company steam and other industrial gas facilities which are in close proximity to the industrial clusters where its potential customers are located.
- The company's top ten customers contributed 47.87% of its revenue from operations in Fiscal 2026. The company also derives a significant portion (90.72% in Fiscal 2026) of its 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 the company's business, results of operations, cash flows and financial condition.
- The company's business and profitability are substantially dependent on the availability of coal for its steam production with purchases of coal contributing 77.29%, 76.19% and 92.01% of the company's total purchases for Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively.
- The company has previously entered into related party transactions with Group Companies, which constituted 99.27% of total related party transactions in Fiscal 2026. Its may continue to enters into related party transactions with Group Companies in the future.
- The company has previously entered into related party transactions, and Its may continue to do so in the future.
- The company relies on its top ten suppliers for the company's material requirements which constituted 81.71%, 75.35% and 76.53%, of its 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 the company's reputation, business, results from operations, financial conditions and cash flows.