Price Band fixed at ₹ 77 to ₹ 81 per equity share of face value of ₹ 2 each (“Equity Shares”) of Steamhouse India Limited (the “Company”)
Anchor Investor Bidding Date – Tuesday, September 08, 2026
Bid /Offer Opening Date – Wednesday, September 09, 2026, and Bid/ Offer Closing Date – Friday, September 11, 2026
Bids can be made for a minimum of 185 Equity Shares and in multiples of 185 Equity Shares thereafter
Red Herring Prospectus (“RHP”) link: https://steamhouse.in/wp-content/uploads/2026/09/Red-Herring-Prospectus.pdf
National, September 07, 2026 ( TGN ): Steamhouse India Limited (the “Company”) proposes to open an initial public offering (“Offer”) of its equity shares of ₹ 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 ₹ 77 to ₹ 81 per Equity Share. Bids can be made for a minimum of 185 Equity Shares and in multiples of 185 Equity Shares thereafter.
The offer comprises a fresh issue of equity shares aggregating up to ₹ 353 crore (the “Fresh Issue”) and an Offer for Sale of Equity Shares aggregating up to ₹ 61 crore by the selling shareholder (the “Offer for Sale”, and together with the Fresh Issue, the “Offer”). The total Offer size amounts to ₹ 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.
This Offer is being made in terms of Rule 19(2)(b) of the SCRR, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process in terms of Regulation 6(1) of the SEBI ICDR Regulations, wherein in terms of Regulation 32(1) of the SEBI ICDR Regulations, not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”, and such portion, the “QIB Portion”) provided that our Company in consultation with the BRLM, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), out of which 33.33% shall be reserved for domestic Mutual Funds and 6.67% for life insurance companies and pension funds, subject to valid Bids being received from domestic Mutual Funds, life insurance companies and pension funds at or above the Anchor Investor Allocation Price, in accordance with the SEBI ICDR Regulations. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares of face value of ₹ 2 each shall be added to the Net QIB Portion.
Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors) including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares of face value of ₹ 2 each available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs. Further, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders (“Non-Institutional Portion”) out of which (a) one-third of such portion shall be reserved for applicants with application size of more than ₹200,000 and up to ₹1,000,000; and (b) two-third of such portion shall be reserved for applicants with application size of more than ₹1,000,000 provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price
.All Bidders (other than Anchor Investors) shall mandatorily participate in this Offer through the Application Supported by Block Amount (“ASBA”) process by providing the details of their respective bank accounts (including UPI ID for UPI Bidders using UPI Mechanism) in which the corresponding Bid Amount will be blocked by the SCSBs. Anchor Investors are not permitted to participate in the Offer through the ASBA process.
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.
All capitalised terms not defined herein would have the same meaning as attributed to them in the RHP.
