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Steamhouse India IPO Oversubscribed 30x!
11 Sep
Summary
- Steamhouse India IPO was subscribed 30.49 times.
- Funds to be used for debt repayment and expansion.
- Company is India's pioneer in community boiler systems.
The initial public offering (IPO) of Steamhouse India concluded on 11 September 2026, receiving overwhelming investor interest with subscriptions reaching 30.49 times. Bids were placed for 1,147,484,330 shares against the 37,636,363 shares made available.
The IPO, which opened on 9 September 2026, offered shares within a price band of Rs 77 to Rs 81. The company plans to utilize the raised capital for significant purposes. Approximately Rs 180 crore will be directed towards the repayment of outstanding borrowings, while Rs 75.95 crore is earmarked for capacity expansion at its Ankaleshwar and Ponali facilities.
Steamhouse India is a leader in generating and distributing industrial gases, notably steam and nitrogen, through pipeline networks. It is the first company in India to establish a community boiler system. In 2025, it expanded into nitrogen production, becoming the sole supplier via a distributed pipeline network.
The company reported a consolidated net profit of Rs 38.64 crore and sales of Rs 491.51 crore for the fiscal year ending 31 March 2026. As of 31 July 2026, Steamhouse India operated seven community steam boilers in Gujarat with a capacity of 345 tonnes per hour and maintained an operational pipeline network of 60,151 metres.
Prior to the IPO launch, the company successfully raised Rs 124.19 crore from anchor investors on 8 August 2026, who were allotted 1.5 crore shares at Rs 81 each.
