Steamhouse India Makes A Strong Market Debut, Shares Surge Nearly 17% In Early Trade

Mumbai: Steamhouse India shares made a strong debut on Thursday, listing at a premium of nearly 17% over the IPO issue price of ₹81.

The company opened at ₹93 on the BSE, up 14.81%. On the NSE, shares listed at ₹94.50, a premium of 16.66%.

Following the listing, the company’s market capitalisation stood at ₹2,689.71 crore.

Strong response to IPO

Steamhouse India’s ₹414-crore initial public offering received robust investor demand and was subscribed 30.49 times.

The IPO comprised a fresh issue worth ₹353 crore and an offer for sale of ₹61 crore by existing shareholders. The company had fixed a price band of ₹77–₹81 per share.

Ahead of the public offering, Steamhouse India raised ₹124.20 crore from anchor investors, indicating healthy institutional interest in the issue.

How IPO proceeds will be used

The company plans to use proceeds from the fresh issue to repay part of its outstanding borrowings and strengthen its balance sheet.

Funds will also support capacity expansion at its Ankleshwar and Panoli facilities. Steamhouse India intends to establish a new steam-generation unit in the Dahej Special Economic Zone and use a portion for general corporate purposes.

Industrial steam business

Established in 2014, Steamhouse India supplies industrial steam through a centralised utility model supported by dedicated pipeline networks.

Its customers operate across chemicals, textiles, pharmaceuticals, food processing, paper and other manufacturing industries. The business model allows industrial units to access steam without building and operating individual generation facilities.

The company is also expanding beyond its core steam operations. Its diversification plans include nitrogen compression and distribution, waste-to-energy solutions and aviation logistics.

The strong Steamhouse India listing reflects investor confidence following heavy IPO subscription. Market participants will now track its expansion plans, debt reduction and execution across new business segments.