Steamhouse India IPO price band fixed at ₹77-₹81 per share; check lot size and key dates

The initial public offering of Steamhouse India Ltd, which is open from September 9 to September 11, has set a price band of ₹77-₹81 per equity share. The bidding for anchor investors would take place on September 8.

The ₹414 crore IPO consists of a fresh issue of shares totalling ₹353 crore and an offer-for-sale (OFS) component of shares valued at ₹61 crore by promoter Vishal Sanwarraprasad Budhia.

The fresh issue proceeds will be utilised to repay part of the company's existing debt, expand capacity at its Ankleshwar and Panoli facilities, establish a new steam-generation plant in the Dahej SEZ, and meet corporate general requirements.

Earlier this year, Steamhouse had raised around ₹50 crore via a pre-IPO placement from funds backed by investors Madhusudhan Kela and Niveshaay Sambhav Fund.

Steamhouse IPO: Lot size

A lot consists of 185 shares and in multiples thereafter. Of the total offer, half of the net offer will be reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and 35% for retail investors.

Steamhouse IPO: Allotment and listing date

The company's shares will be listed on the NSE and the BSE.

Established in 2014, Steamhouse India Ltd supplies industrial steam to customers via a centralised utility model using dedicated pipeline infrastructure. The firm serves more than 167 industrial clients across sectors including textiles, pharmaceuticals, chemicals, food processing, paper and manufacturing.

It has built over 45 kilometres of steam pipeline network across industrial clusters like Sachin, Vapi, Sarigam, Panoli, Ankleshwar and Nandesari. The company is expanding capacity across several locations, including Dahej, Jhagadia, Ahmedabad and Vapi.

The company is also diversifying into waste-to-energy solutions, nitrogen compression and distribution and aviation logistics. It has commissioned a waste-to-steam boiler at Gujarat's Vapi and has secured a 5 MW waste-to-steam project from Ahmedabad Municipal Corporation (AMC) under the public-private partnership model.

Equirus Capital Ltd is the issue's book-running lead manager, while KFin Technologies is the registrar.