Steamhouse India Ltd. IPO
SteamHouse India, founded in June 2015, is an Industrial gas company that supplies steam and nitrogen gas through its pipeline network. The company has a pipeline network that covers over 45 kms in key industrial hubs, including Sachin, Vapi, Ankleshwar, Sarigram, Panoli, and Nadesari.
IPO GMP
+₹16
+20% expected gain
Price Band
₹77 - ₹81
Lot Size
185 shares
Min Investment
₹14,985
Listing Date
September 17, 2026
About Steamhouse India Ltd.
Company overview, business, and key facts.
SteamHouse India, founded in June 2015, is an Industrial gas company that supplies steam and nitrogen gas through its pipeline network. The company has a pipeline network that covers over 45 kms in key industrial hubs, including Sachin, Vapi, Ankleshwar, Sarigram, Panoli, and Nadesari.
The company’s industrial gases include generating and distributing steam, buying and supplying steam, and supplying nitrogen through pipelines. Steamhouses acquires steam from other companies and supplies it to customers through its pipeline. Moreover, it takes nitrogen from the air, separates it, compresses it, and then supplies it. Aether Industries Limited, Anupam Rasayan India Limited, Globe Enviro Care Limited, Gujarat Polysol Chemicals Private Limited, Devanshi Dyestuff, and K. Patel Chemo Pharma Private Limited are some of its well-known clients.
Founded
2015
Headquarters
Surat, Gujarat
Promoters
Vishal Sanwarprasad Budhia, Ritu Budhia, V SB Business Trust, Budhia Business Trust, VB Business Trust
Website
https://steamhouse.in/
IPO Details
Subscription Status
How many times each investor category has bid for the issue.
Strengths & Risks
Strengths
- Energy efficiency industrial solution: The company generates steam centrally and supplies via a pipeline system, thus enabling its industrial clients to outsource steam generation instead of having their own steam generation system.
- High barriers to entry: The business entails high capital costs associated with boilers, pipelines, land, and other infrastructure. The challenge in setting up facilities near industrial clusters makes it hard for new firms to duplicate the network of the business.
- Strategically located facilities: The company has facilities located near major industrial clusters, making it possible for it to supply steam and industrial gases to nearby clients using its pipeline system.
Risks
- Geographical limited coverage: The business is limited in its geographical coverage since it can only supply its products to customers located near its steam and gas facilities as a result of being supplied by the pipeline system.
- Customer concentration high: Top 10 customers of the company made up for 53.95% of sales in FY25 and 52.83% in H1 FY26 ending September 30, 2025. Any loss of customers, decrease in sales and/or cessation of repeat orders can have adverse implications on the revenue and profitability of the business.
- Dependence on repeat orders: Over 96.64% of sales in H1 FY26 and 88.01% in FY25 were derived from repeat orders. Cessation or any drop in repeat orders can hurt the performance of the business.
Steamhouse India Ltd. IPO Key Numbers
Calculated by IPOLyst from the published offer-document data. These are figures, not buy or sell calls.
Issue mix
85.3% fresh / 14.7% sale
Fresh issue goes to the company, offer for sale to selling shareholders
GMP-implied gain per lot
₹2,960
185 shares on ₹14,985. GMP is unofficial.
Scenarios apply today's grey market premium figures to the upper price band. They are illustrations, not predictions. GMP is unofficial and can be wrong.
Not yet available for this IPO: financials, post-IPO share count (market cap and P/E not computable), listed peer comparison, use of proceeds.
IPO Analysis SummaryAI-generated
A plain-language review of Steamhouse India Ltd.'s financials, valuation and demand, based only on the verified figures above. For information only. It does not recommend whether to apply.
Steamhouse India Ltd. IPO Review
Analysis based on live GMP, subscription, and issue details.
As of today, Steamhouse India Ltd. IPO is trading at a grey market premium (GMP) of +₹16 (+20% estimated listing gain), indicating positive market sentiment.
The IPO has been subscribed 13.63x overall — QIB: 5.26x, NII: 28.61x, Retail: 12x.
Steamhouse India Ltd. IPO subscription has closed. The shares are expected to list on September 17, 2026.
The minimum investment required is ₹14,985 for 185 shares (1 lot). Retail investors can apply at cut-off price for the best chance of allotment.
Key strengths include: Energy efficiency industrial solution: The company generates steam centrally and supplies via a pipeline system, thus enabling its industrial clients to outsource steam generation instead of having their own steam generation system.; High barriers to entry: The business entails high capital costs associated with boilers, pipelines, land, and other infrastructure. The challenge in setting up facilities near industrial clusters makes it hard for new firms to duplicate the network of the business.. Investors should note the following risks: Geographical limited coverage: The business is limited in its geographical coverage since it can only supply its products to customers located near its steam and gas facilities as a result of being supplied by the pipeline system.; Customer concentration high: Top 10 customers of the company made up for 53.95% of sales in FY25 and 52.83% in H1 FY26 ending September 30, 2025. Any loss of customers, decrease in sales and/or cessation of repeat orders can have adverse implications on the revenue and profitability of the business..
Disclaimer: IPO GMP is indicative and sourced from the grey market. This is not investment advice. Please consult a SEBI-registered advisor before investing.
Steamhouse India Ltd. IPO — Frequently Asked Questions
What is Steamhouse India Ltd. IPO GMP today?
Steamhouse India Ltd. IPO GMP (grey market premium) today is +₹16, suggesting an estimated listing gain of +20%. GMP is indicative and subject to change.
What is the price band of Steamhouse India Ltd. IPO?
The price band for Steamhouse India Ltd. IPO is ₹77 - ₹81 with a lot size of 185 shares. The minimum investment required is ₹14,985.
When is Steamhouse India Ltd. IPO allotment date?
Steamhouse India Ltd. IPO allotment is expected to be finalised on September 15, 2026. You can check your allotment status on the registrar's website (Kfin Technologies Ltd.) using your PAN number.
When will Steamhouse India Ltd. IPO list on NSE/BSE?
Steamhouse India Ltd. IPO is expected to list on BSE, NSE on September 17, 2026.
How to check Steamhouse India Ltd. IPO allotment status?
To check Steamhouse India Ltd. IPO allotment status, visit the registrar's website (Kfin Technologies Ltd.) and enter your PAN number, application number, or DP/Client ID. You can also check on the BSE IPO allotment page at https://www.bseindia.com/investors/appli_check.aspx.
Should I apply for Steamhouse India Ltd. IPO?
Steamhouse India Ltd. IPO has a GMP of +₹16. Before applying, review the company's financials, business model, issue structure (OFS vs fresh issue), and sector outlook. IPOLyst is not a SEBI-registered investment advisor — please consult a qualified financial advisor before investing.
What is the lot size of Steamhouse India Ltd. IPO?
The lot size for Steamhouse India Ltd. IPO is 185 shares per lot. The minimum investment for retail investors is ₹14,985. Retail investors can apply for a maximum of 13 lots or up to ₹2 lakh, whichever is lower.