One of the leading companies, Steamhouse India, has submitted a UDRHP to SEBI for an IPO of ₹ 425 crore. Wherein ₹345 crore from issuing new shares (fresh issue) and ₹80 crore from OFS, which will be from existing shares being sold by the promoter, Vishal Sanwarprasad Budhia.
As per the sources, Steamhouse India’s IPO, as outlined in the UDRHP, includes equity shares of face value Rs 2 each. The rest of the details, such as IPO lot size, price, and listing date, are yet to be announced.
Steamhouse IPO Lead Manager & Fund Deployment
Equirus Capital is managing the IPO as the sole lead manager.
The money Steamhouse India raises from the fresh shares will be used for:
- Paying off some loans
- capital expenditure for capacity expansion at the Ankleshwar and Panoli facilities,
- setting up a new manufacturing facility in Dahej SEZ, and
- general corporate purposes.
Steamhouse pre-IPO placement
Steamhouse India might raise up to ₹15 crore through a pre-IPO placement before officially filing the IPO documents.
If they do this, the fresh issue amount in the IPO will be reduced by the same ₹15 crore.
About Steamhouse
Steamhouse India introduced the community boiler system in India in 2014. The company works in generating and distributing steam, buying and supplying steam, and supplying nitrogen through pipelines.
Steamhouse India runs seven community steam boilers in Gujarat, six owned and one leased—in places like Vapi, Ankleshwar, Sarigam, Nandesari, and Panoli.
Their customers come from pharma, chemicals, agro-chemicals, textiles, tyres, dyes, pigments, polymers, and paints. The plants are close to major ports and industrial hubs.
Steamhouse India IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Steamhouse India Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2023 | ₹316.64 | ₹272.43 | ₹33.40 |
| 2024 | ₹293.16 | ₹249.85 | ₹27.17 |
| 2025 | ₹398.53 | ₹359.56 | ₹31.16 |
| September 2025 | ₹239.73 | ₹222.94 | ₹13.09 |
Steamhouse India IPO Valuation – FY2025
Steamhouse India IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹1.38 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 23.79% |
| Net Asset Value (NAV): | ₹5.80 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Linde India Limited | 53.33 | 111.88 | – | 447.91 | 2,485.38 Cr. |
| Ellenbarrie Industrial Gases Limited | 6.36 | 61.67 | – | 37.68 | 312.48 Cr. |
Objects of the Issue
- Repayment or prepayment of all or a portion of certain outstanding borrowings availed by our Company;
- Funding capital expenditure requirements for augmenting infrastructure development of our Company towards (i) capacity expansion of the Ankleshwar Facility (Phase 3) and (ii) capacity expansion of the Panoli Facility (Phase 2);
- Funding capital expenditure in relation to setting up of a new manufacturing facility for generation of steam in Dahej SEZ; and
- General corporate purposes
IPO Lead Managers aka Merchant Bankers
- Equirus Capital Private Limited
