Price Band fixed at Rs77 to Rs81 per equity share of face value of Rs2 each of Steamhouse India Limited
FinTech BizNews Service
Mumbai, 7 September, 2026: Steamhouse India Limited proposes to open an initial public offering of its equity shares of Rs 2 each on Wednesday, September 09, 2026. The Anchor Investor Bidding Date shall be Tuesday, September 08, 2026, being one Working Day prior to the Bid/Offer Opening Date. The Bid/Offer Closing Date shall be Friday, September 11, 2026.
The Price Band of the Offer has been fixed from Rs 77 to Rs 81 per Equity Share. Bids can be made for a minimum of 185 Equity Shares and in multiples of 185 Equity Shares thereafter.
Management of Steamhouse India Limited – Mr. Vishal Budhia (Chairman and Managing Director) and Mr. Vaibhav Gattani (Chief Financial Officer), during the press conference to announce the company’s forthcoming Initial Public Offering.
The offer comprises a fresh issue of equity shares aggregating up to Rs 353 crore (the “Fresh Issue”) and an Offer for Sale of Equity Shares aggregating up to Rs 61 crore by the selling shareholder (the “Offer for Sale”, and together with the Fresh Issue, the “Offer”). The total Offer size amounts to Rs 414 crore and the Company proposes to utilise the net proceeds towards (a.) repayment or prepayment of all or a portion of certain outstanding borrowings availed by the Company; (b.) funding capital expenditure requirements for augmenting infrastructure development, including capacity expansion of the Ankleshwar Facility (Phase 3) and the Panoli Facility (Phase 2); (c.) funding capital expenditure towards setting up a new manufacturing facility for generation of steam at Dahej GIDC (Phase 2); and (d.) general corporate purposes.
Steamhouse India Limited is an Indian company specialising in the generation and centralised distribution of industrial gases, including steam and nitrogen, through its pipeline network. The Company and its Promoters are pioneers of the community boiler system in India, which was first introduced in 2014. Its community industrial gas generation and distribution system provide gas to various industrial customers from a pipeline network, which provides an alternative to each individual customer having its own infrastructure. Steamhouse’s industrial gas business comprises generation and distribution of steam; purchase and distribution of steam; and separation, compression and distribution of nitrogen. The Company commenced its first facility for nitrogen supply in February 2025 through a distributed pipeline network at its Ankleshwar facility.
The Equity Shares of the Company are proposed to be listed on BSE Limited (“BSE") and the National Stock Exchange of India Limited (“NSE”) (BSE and NSE together, the “Stock Exchanges”).
Equirus Capital Limited (formerly known as Equirus Capital Private Limited) is the sole Book Running Lead Manager (“BRLM”) to the Offer.
