Steamhouse India Limited IPO
Steamhouse India Limited IPO closed on 11 Sept 2026. Allotment 15 Sept 2026, listing 17 Sept 2026. Price band ₹77–₹81, lot 185 shares, GMP +₹16 (19.75%). Track allotment on Allotly.
| Status | Closed |
|---|---|
| Category | Mainboard · NSE |
| Price band | ₹77–₹81 |
| Lot size | 185 shares |
| Minimum investment | ₹14,985 |
| Issue size | ₹414 Cr |
| GMP | +₹16 (19.75%) |
| Open date | 9 Sept 2026 |
| Close date | 11 Sept 2026 |
| Allotment date | 15 Sept 2026 |
| Listing date | 17 Sept 2026 |
| Registrar | KARVY |
About Steamhouse India Limited
Steamhouse India operates large-scale centralized community boilers to generate and distribute steam and other industrial gases through a distributed pipeline network. The company primarily serves industrial clusters in Gujarat, utilizing coal and non-fossil fuels such as plastic waste, textile waste, and agro-waste for its waste-to-energy facilities. It offers a flexible plug-and-play solution where industrial customers control their consumption through on-site valves, paying based on actual usage or minimum contractual obligations. Revenue is primarily generated through the sale of steam and nitrogen under short- to long-term contracts ranging from one to ten years, which include fixed and variable cost components. Additionally, the company generates revenue through coal trading by selling excess imported coal in the open market and co-generates electricity to operate its own boiler…
Strengths
- High customer retention with long-term supply contracts spanning up to ten years.
- A flexible plug-and-play solution allows customers to pay based on actual consumption.
- Strategic facility locations near major industrial clusters in Gujarat reduce transmission losses.
- Integration of non-fossil fuels like plastic and agro-waste to reduce environmental impact.
- Consistent revenue growth driven by a high volume of repeat orders and established infrastructure.
Risks
- Revenue is heavily concentrated, with the top ten customers contributing 47.87% of operations.
- Profitability is substantially dependent on the price and availability of imported coal.
- Geographic concentration in Gujarat makes operations highly vulnerable to local regulatory changes.
- Significant reliance on related party transactions with group companies for both sales and purchases.
- Past non-compliances with pollution control board approvals could result in future operational penalties.