Steamhouse India
Industrial gas company that generates and pipes steam and nitrogen to factories across Gujarat's chemical belt.
Last updated 24 Sept 2026, 11:39 pm IST
- Price band
- ₹77 – ₹81
- Lot size
- 185
- Issue size
- ₹414 Cr (₹353 Cr fresh + ₹61 Cr OFS)
- Opens
- 9 Sept 2026
- Closes
- 11 Sept 2026
- Exchange
- Both
The numbers
- GMP
- ₹14 (~17.3%) (17 Sep, 7:00 AM; was ₹22 (~27%) on 14 Sep)
- Subscription
- 32.07× (final)
- Listing gain
- NSE +16.7% / BSE +14.8% (17 Sep)
- Listing date
- 17 Sept 2026
- Model prediction
- ~+27% expected → Strong Subscribe. Listed +16.7% NSE / +14.8% BSE (17 Sep), closed day 1 at +26.6%; call held by the close.
The Ticker Tales take
SteamHouse India runs something unusual — a 45 km pipeline network across Gujarat's industrial hubs like Sachin, Vapi and Ankleshwar that pipes steam and nitrogen straight into factories, so each customer doesn't have to build and run its own boiler. Revenue grew 24% to ₹494.97 crore in FY26 and profit rose 24% to ₹38.64 crore, and most of the ₹414 crore issue was fresh money. Demand finished strong at 32.07 times covered. We expected a strong listing — a pop of around 27%. It listed on 17 September at ₹94.50 on NSE, up 16.7%, and ₹93 on BSE, up 14.8% — a good debut, but short of our estimate. It climbed further through the day to close at ₹102.55, up 26.6% — which closed the gap almost exactly to our estimate.
More details
- Sector
- Industrial gases (steam & nitrogen)
- FY26 PAT
- ₹38.64 Cr
- Registrar
- KFin Technologies
- Issue type
- Book-built (₹353 Cr fresh + ₹61 Cr OFS)
- FY26 revenue
- ₹494.97 Cr
- Incorporated
- 2015
- Lead manager
- Equirus Capital
- Pipeline network
- 45+ km across Sachin, Vapi, Ankleshwar, Sarigram, Panoli, Nadesari
- Anil Singhvi - Long-term call
- Not clearly stated
- Anil Singhvi - Listing-gain call
- Not clearly stated
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Calls here follow a set formula (GMP, subscription trends) plus Anil Singhvi's publicly shared view — not investment advice. Please do your own research before investing.