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Steamhouse India IPO fully subscribed on day 2, retail investors lead; here’s what you need to know
3 min read | Updated on September 10, 2026, 18:42 IST
SUMMARY
Until 5 PM, the initial share sale of the industrial gas producer firm had received bids for 8.31 crore shares, as per exchange data.
Steamhouse India Ltd supplies industrial steam to customers via a centralised utility model using dedicated pipeline infrastructure. | Image: steamhouse.in
The initial public offering (IPO) of Steamhouse India got fully subscribed on the second day with a total booking of 2.21 times on Thursday, September 10.
Until 5 PM, the initial share sale of the industrial gas producer firm had received bids for 8.31 crore shares as compared to 3.76 crore shares on offer, as per exchange data.
The non-institutional investor (NII) category was subscribed 2 times, while the retail individual investor (RII) segment saw 2.63 times subscriptions. However, the Qualified Institutional Buyers (QIB) portion was booked 1.62 times.
The ₹414 crore initial share sale comprises a fresh issue of equity shares aggregating up to ₹353 crore and an offer-for-sale (OFS) component worth around ₹61 crore by promoter Vishal Sanwarraprasad Budhia.
With a price band of ₹77 to ₹81 per share, a lot consists of 185 shares.
“Our company expects to receive the benefits of listing of the equity shares on the stock exchanges and enhancement of our company’s visibility and brand image, and creation of a public market for our equity shares in India,” the firm said in its red herring prospectus.
Before the IPO, the company raised ₹124.20 crore from anchor investors, including Singularity Large Value Fund III, Abakkus Emerging Opportunities Fund-1, Chartered Finance & Leasing Ltd, Niveshaay Sambhav Fund, 31 Degrees North Fund and Emerge Capital Opportunities Scheme.
Steamhouse India IPO allotment and listing date
| Event | Date |
|---|---|
| Subscription dates | September 9 to September 11 |
| Finalisation of allotment | September 15 |
| Refund initiation | September 16 |
| Credit of shares to Demat account | September 16 |
| Listing date on NSE and BSE | September 17 |
Steamhouse India IPO Objective
About the company
Established in 2014, Steamhouse India Limited supplies industrial steam to customers via a centralised utility model that uses dedicated pipeline infrastructure. The company serves industrial clients across sectors like chemicals, pharmaceuticals, food processing, textiles, paper and manufacturing.
The firm is also diversifying into aviation logistics, nitrogen compression and distribution and waste-to-energy solutions.
As of July 31, 2026, the company operated seven community steam boilers in Gujarat, comprising six owned boilers and one leased boiler. Its customer base spans several industrial sectors, including pharmaceuticals, chemicals, textiles, agro-chemicals, tyres, dyes and pigments, polymers and paints.
Key customers include Aether Industries, Anupam Rasayan India, Globe Enviro Care, Gujarat Polysol Chemicals, Devanshi Dyestuff, K. Patel Chemo Pharma, K. Patel Dye Chem Industries Private Limited, Mahavir Synthesis Private Limited, Mangalam Intermediaries, Orgo Chem Gujarat Private Limited and Subhasri Pigments.
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