Steamhouse India, a supplier of piped steam to various industries that require steam for their manufacturing operations, has announced an Rs 414-crore initial public offering.

Mumbai: Steamhouse India, a supplier of piped steam to various industries that require steam for their manufacturing operations, has announced an Rs 414-crore initial public offering (IPO) in the price band of Rs 77 to Rs 81 per equity share of Rs 2 face value. The public issue will open on Sept. 9 and close on Sept. 11, 2026.

The company plans to use Rs 180 crore of the net IPO proceeds to repay debt, while the remaining amount will be used for capital expenditure and general corporate purposes.

Steamhouse India has a unique business model involving community boilers that supply piped steam to industrial clusters in Gujarat that do not want to install captive boilers. The company is now planning to set up similar facilities in Tarapur in Maharashtra and Haldia in West Bengal.

The public issue comprises a fresh issue of equity shares worth Rs 353 crore and an offer for sale (OFS) of Rs 61 crore by promoter Vishal Budhia.

Steamhouse plans to use Rs 180 crore from the net proceeds of the fresh issue to repay debt. The remaining amount will be used to fund infrastructure development and capacity expansion at Ankleshwar and Panoli, set up a new steam-generation facility at Dahej GIDC, and meet general corporate expenses.


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