Steamhouse India IPO
Miscellaneous • ₹414cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- Regulatory or legal risks cited in DRHP
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹77-81
Lot Size
185 shares
Issue Size
₹414cr
Open
09 Sept 2026
Close
11 Sept 2026
Subscription
6.65×
GMP +₹22.75 → est. ₹103.75
IPO Schedule
| Issue Open Date | 09 Sept 2026 |
| Issue Close Date | 11 Sept 2026 |
| Allotment Date | 15 Sept 2026 |
| Listing Date | 17 Sept 2026 |
About Steamhouse India
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 facilities.
Company Details
Founders / Promoters
Mr Vishal Sanwarprasad Budhia
Founded
2015
Registrar
KARVY
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Subscription Status
6.65×
Total Subscription
Grey Market Premium (GMP)
Issue Price
₹81
GMP
+₹22.75
Est. Listing
₹103.75
Est. Gain
+28.1%
GMP is unofficial grey market data — not regulated by SEBI. Use only as a sentiment indicator alongside subscription data. View all IPO GMP →
Investment Analysis
Steamhouse India — IPOFins Verdict
QuantitativeDriven by QIB demand at 1.7x and elevated disclosed risk (7/10). The picture is mixed — treat this as one input alongside the DRHP, valuation, and your own risk appetite.
- 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.
Score breakdown — what drove this verdict
High risk from DRHP → score -0.8
Institutional subscription → score 0
Strong retail interest → score +0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
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FAQ
What is the price band of Steamhouse India IPO?
The price band is ₹77-81 per share with a lot size of 185 shares. Minimum investment: ₹14,985.
What does Steamhouse India do?
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 facilities.
Should I apply for Steamhouse India IPO?
Steamhouse India is drawing moderate interest at 6.7x overall subscription (QIB 1.7x, retail 7.7x). IPOFins Score 5/10: Driven by QIB demand at 1.7x and elevated disclosed risk (7/10). The picture is mixed — treat this as one input alongside the DRHP, valuation, and your own risk appetite.
Who founded Steamhouse India?
Steamhouse India was founded by Mr Vishal Sanwarprasad Budhia in 2015.