STEAMHOUSE INDIA LTD IPO: Company Review, Subscription and Allotment Updates
2026-09-08 — Company overview and issue details STEAMHOUSE INDIA LTD IPO (ABOUT THE COMPANY) STEAMHOUSE INDIA LTD – COMPANY BACKGROUND Steamhouse India Ltd was incorporated in the year 2015 and is into the generation and centralized…
2026-09-08 — Company overview and issue details
STEAMHOUSE INDIA LTD IPO (ABOUT THE COMPANY)
STEAMHOUSE INDIA LTD – COMPANY BACKGROUND
Steamhouse India Ltd was incorporated in the year 2015 and is into the generation and centralized distribution of steam and nitrogen. It also has a large share of coal trading revenues in its mix. It runs a community-based pipeline system which allows industrial consumers an option to maintaining their own transmission infrastructure. Its pipeline network spans over 57 KM. Some of its marquee clients include Aether Industries, Anupam Rasayan, Gujarat Polysol, Devanshi Dyestuff, Mangalam Intermediates, Orgo Chem etc.
The promoters of Steamhouse India Ltd are Vishal Sanwarprasad Budhia, Ritu Budhia, VSB Business Trust, Budhia Business Trust, and VB Business Trust. The IPO will be a combination of a fresh issue of shares and an offer for sale (OFS) component. The fresh issue funds will be used for capital expenditure, repayment of loans, and for general corporate purposes. The OFS shares are being offered entirely by the promoter shareholders of the company. The issue is being lead-managed by Equirus Capital Ltd; while KFIN Technologies Ltd (KFINTECH) is the IPO registrar.
HIGHLIGHTS OF THE IPO ISSUE OF STEAMHOUSE INDIA LTD
Here are the key highlights of the public issue of Steamhouse India Ltd.
The IPO is open from September 09th, 2026 to September 11th, 2026. It has a face value of ₹2 per share and the IPO price band has been fixed in the range of ₹77 to ₹81 per share.
The IPO of Steamhouse India Ltd will be a combination of a fresh issue of shares and an offer for sale of shares by the investor shareholders.
The Fresh Issue portion of the IPO comprises the issue of 4,35,80,246 shares (435.80 lakh shares), which at the upper price band of ₹81 per share, translates into a fresh issue size of ₹353.00 crore.
The offer for sale (OFS) portion of the IPO comprises the sale of 75,30,864 shares (75.31 lakh shares), which at the upper price band of ₹81 per share, translates into an OFS size of ₹61.00 crore.
Therefore, the overall IPO will comprise of the fresh issue portion and offer for sale (OFS) portion comprising of 5,11,11,110 shares (511.11 lakh shares), which at the upper price band of ₹81 per share translates into overall issue size of ₹414.00 crore.
Due to dilutive impact of the fresh issue and the offer for sale (OFS) by promoters, the promoter stake in the company will reduce from 95.79% pre-IPO to 77.96% post-IPO.
The IPO of Steamhouse India Ltd will be listed on the NSE and the BSE on the IPO mainboard. The anchor allocation happened on September 08, 2026.
KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES
Here are the key dates pertaining to the IPO of Steamhouse India Ltd
| Event | Tentative Date |
|---|---|
| IPO Open Date | Wednesday, 9 September, 2026 |
| IPO Close Date | Friday, 11 September, 2026 |
| Basis of Allotment | Tuesday, 15 September, 2026 |
| Initiation of Refunds to non-allottees | Wednesday, 16 September, 2026 |
| Credit of Shares to Demat | Wednesday, 16 September, 2026 |
| Listing Date on NSE and BSE | Thursday, 17 September, 2026 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Investor Category | Share Allocation | % Share |
|---|---|---|
| Reservation for Employees | Nil Shares | Not Applicable |
| Anchor Allocation | 1,53,33,332 shares | 28.95% of total IPO size |
| QIB Shares Offered | 1,07,53,246 shares | 20.30% of total IPO size |
| NII (HNI) Shares Offered | 80,64,935 shares | 15.23% of total IPO size |
| Retail Shares Offered | 1,88,18,182 shares | 35.00% of total IPO size |
| Total Shares Offered | 5,29,69,695 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.
Here is a quick look at the lot sizes applicable for the IPO of Steamhouse India Ltd for various categories of investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 185 | ₹ 14,985 |
| Retail (Max) | 13 | 2,405 | ₹ 1,94,805 |
| S-HNI (Min) | 14 | 2,590 | ₹ 2,09,790 |
| S-HNI (Max) | 66 | 12,210 | ₹ 9,89,010 |
| B-HNI (Min) | 67 | 12,395 | ₹ 10,03,995 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 185 shares)
FINANCIAL HIGHLIGHTS OF STEAMHOUSE INDIA LTD
The table captures the key financials of Steamhouse India Ltd for last 3 financial years.
| Particulars | FY26 | FY25 | FY24 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 491.51 | 395.11 | 291.71 |
| Sales Growth (%) | 24.40% | 35.44% | |
| Profit after Tax (₹ in crore) | 38.64 | 31.16 | 27.19 |
| PAT Margins (%) | 7.86% | 7.89% | 9.32% |
| Total Equity (₹ in crore) | 172.77 | 132.45 | 103.55 |
| Total Assets (₹ in crore) | 679.45 | 543.67 | 422.31 |
| Return on Equity (%) | 22.36% | 23.53% | 26.26% |
| Return on Assets (%) | 5.69% | 5.73% | 6.44% |
| Asset Turnover Ratio (X) | 0.72 | 0.73 | 0.69 |
| Earnings per share (₹) | 1.71 | 1.38 | 1.21 |
| EBITDA (₹ in Crore) | 83.49 | 69.32 | 68.41 |
| EBITDA Margins (%) | 16.99% | 17.54% | 23.45% |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
Between FY24 and FY26, the net margins have been steadily trending lower, mainly due to higher costs entailed. At the same, the ROE has been broadly flat at 22-23% in the latest year. The company has shown a consistent track record of profitability but falling PAT margins and falling EBITDA margins may be a reason for a closer look.
VALUATION METRICS OF STEAMHOUSE INDIA LTD IPO
At the IPO price of ₹81 (upper band), the stock gets discounted at a P/E ratio of 47.4X, based on the latest FY26 EPS of ₹1.71. According to the company prospectus, there are no other companies in the peer group that could be taken as a benchmark. However, investors must be cautious about the aggressive pricing amidst falling profit margins of the company.
Apart from the financial numbers, there are also some other areas where Steamhouse India Ltd has an edge. It is a high growth segment with growing market. Also, over time it has created high barriers to entry. Its location enables offering community distribution to a cluster of high demand segments. It has a wide industry client mix; with Pharma, specialty chemicals, and textiles accounting for a chunk. Despite the strong business model, the rich valuations may not leave much on the table for investors in the short term. However, investors can look at the IPO for long-term participation.
2026-09-08 — Anchor allocation
STEAMHOUSE INDIA LTD IPO (ANCHOR ALLOCATION 28.95%)
BRIEF ON ANCHOR ALLOCATION OF STEAMHOUSE INDIA LTD
The anchor issue of Steamhouse India Ltd saw a strong response on 08th September 2026 with 28.95% of the IPO size absorbed by anchors. Out of 5,29,69,695 shares (529.70 lakh shares) on offer in the IPO; anchors picked up 1,53,33,332 shares (153.33 lakh shares) accounting for 28.95% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹81 per share. This includes the face value of ₹2 per share plus a share premium of ₹79 per share. The anchor bidding opened and closed on 08th September 2026.
KEY POINTS TO NOTE IN THE ANCHOR ALLOCATION PROCESS
Here are the key details pertaining to the anchor bidding of Steamhouse India Ltd
| Bid Date | September 08, 2026 |
|---|---|
| Shares Offered | 1,53,33,332 shares |
| Anchor Portion Size (₹ in crore) | ₹124.20 crore |
| Anchor lock-in period end date for 50% shares (30 Days) | Oct 13, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Dec 12, 2026 |
An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.
MAJOR ANCHOR ALLOCATION INVESTORS IN STEAMHOUSE INDIA LTD
On 08th September 2026, Steamhouse India Ltd allotted 1,53,33,332 shares to a total of 6 anchor investors. The allocation was done at the upper IPO price band of ₹81 per share which resulted in overall anchor allocation of ₹124.20 crore. The anchors have already absorbed 28.95% of the total issue size of ₹429.05 crore, after factoring in the employee discount offered in the IPO, if any.
Listed below are the Top 6 IPO anchor investors who accounted for anchor collection of ₹124.20 crores, or, 100.00% of the overall anchor allocation of shares, one trading day ahead of the IPO of Steamhouse India Ltd. The individual anchor allocation of top-10 investors is indexed descending on the number of shares allotted.
| Anchor Investors | No. of Shares | % of Anchor Portion | Value Allocated | |
|---|---|---|---|---|
| 01 | Singularity Large Value Fund – III | 51,97,390 | 33.90% | ₹ 42.10 |
| 02 | Chartered Finance and Leasing Ltd | 51,97,390 | 33.90% | ₹ 42.10 |
| 03 | Niveshaay Sambav Fund | 18,51,642 | 12.07% | ₹ 15.00 |
| 04 | Abakkus Emerging Opportunities Fund – I | 12,34,875 | 8.05% | ₹ 10.00 |
| 05 | Kotak Manufacture in India Fund | 12,34,690 | 8.05% | ₹ 10.00 |
| 06 | 31 Degrees North Fund – I | 6,17,345 | 4.03% | ₹ 5.00 |
| Grand Total | 1,53,33,332 | 100.00% | ₹ 124.20 |
Data Source: BSE Filings (Value Allocated is ₹ in Crore)
The detailed and comprehensive report on the anchor allocation, with the mutual fund portion segregated, can be accessed on BSE by clicking on the link below.
Out of the 1,53,33,332 shares allocated to the anchors in the IPO, there was no allocation of shares made to mutual funds regulated by SEBI. Also, there was no allocation of shares made to life insurance companies regulated by IRDAI, representing The anchor allocation was spread across SIFs, NBFCs, and alternate investment funds (AIFs).
NEXT STEPS IN STEAMHOUSE INDIA LTD IPO
Post the closure of the IPO subscription on 11th September 2026, the basis of allotment will be finalized on 15th September 2026 and the refunds will be initiated on 16th September 2026. In addition, the demat credits are expected to also happen on 16th September 2026 and the stock will list on 17th September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 16th September 2026 under ISIN (INE0FRO01022).
2026-09-12 — Day-3 subscription update
Steamhouse India Ltd (Day-3 Final Subscription at 30.49 times)
STEAMHOUSE INDIA LTD - IPO SUBSCRIPTION STATUS ON DAY-3
As of 7.25 pm on 11th September 2026, out of the 376.36 lakh shares on offer in the IPO (excluding anchor portion), Steamhouse India Ltd saw bids for 11,474.92 lakh shares. This implies an overall subscription of 30.49X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of Steamhouse India Ltd was as under:
| Employees (N.A.) | QIBs (43.91X) | HNI / NII (44.30X) | Retail (16.90X) |
|---|
The subscriptions were led by the HNI / NII Investors followed by the QIB investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day. That was the case in this IPO too. Both, the QIB portion and the HNI / NII portion saw bulk of the institutional, corporate and funded subscriptions come in on the last day of the IPO. The company saw steady anchor participation a day ahead of the IPO opening with 28.95% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 1,53,33,332 | 1,53,33,332 | 124.20 |
| Employee Quota | N.A. | 0 | 0 | 0.00 |
| QIB Investors | 43.91 | 1,07,53,246 | 47,21,23,700 | 3,824.20 |
| HNIs / NIIs | 44.30 | 80,64,935 | 35,72,57,755 | 2,893.79 |
| Retail Investors | 16.90 | 1,88,18,182 | 31,81,10,275 | 2,576.69 |
| Total | 30.49 | 3,76,36,363 | 1,14,74,91,730 | 9,294.68 |
Data Source: NSE / BSE (as of close of Day-3 of the IPO)
The IPO of Steamhouse India Ltd was open up to September 11, 2026, and has closed for subscription as of the close of trading hours on September 11, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹9,418.88 crore.
NEXT STEPS IN THE STEAMHOUSE INDIA LTD IPO
Post the closure of the IPO subscription on 11th September 2026, the basis of allotment will be finalized on 15th September 2026 and the refunds will be initiated on 16th September 2026. In addition, the demat credits are expected to also happen on 16th September 2026 and the stock will list on 17th September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 16th September 2026 under ISIN (INE0FRO01022).
2026-09-12 — Allotment guidance and next steps
Steamhouse India Ltd (How to check allotment status online)
ABOUT THE STEAMHOUSE INDIA LTD IPO
The IPO of Steamhouse India Ltd opened on September 09th, 2026 and closed on September 11th, 2026. The IPO comprised of a fresh issue and an offer for sale (OFS) of 5,29,69,695 shares (529.70 lakh shares) worth ₹429.05 crore at the upper band price of ₹81 per share. The allotment status will be finalized by EOD of September 15, 2026. Here is how to check allotment status for the IPO of Steamhouse India Ltd. You can check IPO status on BSE or NSE or IPO Registrar website of KFIN Technologies Ltd (KFINTECH).
CHECKING ALLOTMENT STATUS OF STEAMHOUSE INDIA LTD ON BSE WEBSITE
This is a common link for all mainboard IPOs. Click on BSE link for IPO allotment as below.
https://www.bseindia.com/investors/appli_check.aspx
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity Option
Under Issue Name – Select Steamhouse India Ltd from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Alternatively, Enter your PAN (10-digit alphanumeric) number
Once this is done, you need to click on the Captcha to verify you are not a robot
Finally click on the Search Button
You can use either of the parameters to query; Application / CAF number or Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Steamhouse India Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF STEAMHOUSE INDIA LTD ON NSE WEBSITE
This is a common link for all IPOs. Click on NSE link for IPO allotment as below.
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity & SME IPO Details Option
Under SELECT SYMBOL – Select STEAMHOUSE from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Enter your PAN (10-digit alphanumeric) number
Once both are entered, click on the Submit Button
You must input the Application / CAF number and the Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Steamhouse India Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF STEAMHOUSE INDIA LTD ON KFIN TECHNOLOGIES LTD (REGISTRAR TO THE IPO)
Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below:
https://kosmic.kfintech.com/ipostatus/
KFIN Technologies Ltd provides details of IPOs managed by them and where allotment status is finalized. Radio buttons allow you to opt to see all IPOs or just recent IPOs. The latter option reduces the list of IPOs to search. Once you click on Recent IPOs, dropdown shows recent active IPOs, where allotment status is finalized. Select Steamhouse India Ltd.
THERE ARE 3 WAYS TO QUERY ALLOTMENT STATUS ON KFIN TECHNOLOGIES LTD
To Query by Application Number, check the appropriate box and follow these steps.
Enter the Application Number as it is
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
Unlike in the past, now you do not have to select ASBA versus Non-ASBA option.
To Query by Demat Account, check the appropriate box and follow these steps.
First select the depository (NSDL / CDSL)
Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL)
Enter the Client-ID in the second box
For NSDL, the Demat account is 2 strings; for CDSL it is just 1 string
Enter the 6-digit Captcha Code
Click on Submit button
Allotment Status gets displayed on screen
To Query by PAN, check the appropriate box and follow these steps.
Enter the 10-Character PAN number, available on your PAN card
After you enter the PAN number, Enter the 6-digit numeric Captcha Code
Click on Submit button
Allotment status gets displayed on screen
If captcha code is not clear; toggle for more options. Retain a screenshot of the allotment status output for future reference. This can be tallied with demat credit post allotment.
NEXT STEPS IN THE STEAMHOUSE INDIA LTD IPO
Post the closure of the IPO subscription on 11th September 2026, the basis of allotment will be finalized on 15th September 2026 and the refunds will be initiated on 16th September 2026. In addition, the demat credits are expected to also happen on 16th September 2026 and the stock will list on 17th September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 16th September 2026 under ISIN (INE0FRO01022).
Interested in applying for this IPO?
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