Steamhouse India Limited, an Indian company that generates and centrally distributes industrial gases, plans to raise ₹414 crore through an IPO.
[Fresh Issue ₹353 Cr + OFS ₹61 Cr]
Steamhouse India IPO Price: ₹77–₹81 per share
Steamhouse India: History
The Company was originally incorporated as Ankleshwar Eco Energy Limited at Surat, Gujarat, India, a public limited company under the Companies Act, 2013, on June 10, 2015.
It was subsequently renamed Steamhouse India Limited, and the RoC issued a fresh certificate of incorporation on September 28, 2021.
Steamhouse India: Business
Steamhouse India Ltd is an Indian company specializing in the generation and centralized distribution of industrial gases, including steam and nitrogen, through a pipeline network.
The company’s industrial gas business includes –
- Generation and distribution of steam,
- Purchase and distribution of steam,
- Separation, compression, and distribution of nitrogen.
Steamhouse utilize a diverse range of fuels in operational community steam boiler facilities, including coal and non-fossil fuels (like plastic waste and textile chindi) to generate steam.
It is also exploring increased use of alternative fuel sources such as agro-waste and refuse-derived fuel as a source of fuel for generating steam.
As of November 15, 2025, the company owned, operated, and maintained a 56,236-meters operational pipeline system connecting facilities to its clients’ premises.
According to the F&S Report, Steamhouse is the only company in India that supplies nitrogen using a distributed pipeline network instead of the common practice of supplying in cryogenic tanks and onsite nitrogen generation.
Boiler Capacity
Currently, the company operates seven community steam boilers (six owned and one leased) in Gujarat through which it generates and distributes steam.
Installed Plant Capacity
As of November 15, 2025, the company’s combined installed plant capacity for steam across seven boilers is 345 tonnes per hour (TPH), which translates to an annual installed capacity of 2,185,920.00 tonnes per annum (TPA).
ALSO READ: Pranav Constructions IPO Review
Customer Base
The Company has an established industrial customer base in Gujarat, India, with reputed clients across key sectors including agro-chemicals, chemicals, dyes and pigments, pharmaceuticals, polymers, textiles, tyres, paints, and other sectors.
Strategies Ahead
Expand capacity by setting up new facilities in and outside Gujarat.
Diversify business offerings.
Focus on operational efficiency and reduce operating expenses.
Improve debt profile.
Reduce carbon footprint.
Company Promoters
- Vishal Sanwarprasad Budhia,
- Ritu Budhia,
- Vsb Business Trust,
- Budhia Business Trust,
- VB Business Trust
Refer to Steamhouse DRHP for detailed information.
IPO Detail
ipo date: 9 Sept – 11 Sept 2026
Minimum Amount: ₹14,985
Minimum Bid: 185 Shares
Face Value: INR 2 per share
Listing On: NSE, BSE
Financial
Book Running Lead Manager
Equirus Capital
CONCLUSION
Considering financial performance and the nature of the business, FinBlab recommends ‘MAY SUBSCRIBE‘ ratings for the Steamhouse India Ltd IPO.
Do come back to learn more about “upcoming IPOs”.
==========================================================================
Disclaimer: This article is purely for informational purposes.
While much time and effort is made to provide the information, I (Vishal Dalwadi) or (FinBlab) do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.