Steamhouse India to Raise Rs 425 Crore with Innovative IPO

Steamhouse India plans to raise Rs 425 crore through an IPO, blending a fresh share issue and an Offer For Sale. Proceeds aim to reduce debt, expand facilities, set new units, and cater to corporate needs. The company is known for its community boiler system and industrial steam and gas supply.

Steamhouse India, a prominent supplier in the industrial steam and gas sector, has initiated steps to raise Rs 425 crore through its Initial Public Offering (IPO), according to documents filed with the Securities and Exchange Board of India (Sebi).

The IPO includes a fresh issue of shares valued at Rs 345 crore and an Offer For Sale (OFS) of shares amounting to Rs 80 crore by promoter Vishal Sanwarprasad Budhia. The funds from the fresh issue are intended to reduce existing debts, expand capacities at the company's Ankleshwar and Panoli locations, establish a new steam-generation unit in the Dahej SEZ, and cover general corporate expenses.

Steamhouse, under the leadership of Vishal Budhia, pioneered the community boiler system in India and is expanding into other industrial gases like nitrogen. With a portfolio of over 174 clients in diverse sectors, the company's operational revenue surged by 35% to Rs 395.11 crore in FY25, with a corresponding rise in profit after tax.

(With inputs from agencies.)