Upcoming IPO: Industrial steam solutions provider Steamhouse India has filed a confidential draft red herring prospectus (DRHP) with India’s capital markets regulator, the Securities and Exchange Board of India (Sebi), to raise funds from the public markets through an initial public offering (IPO).
According to people aware of the development, the company is seeking to raise between ₹500 and ₹700 crore. However, the issue size or type of the public issue has not been disclosed in the 1 July 2025 filing.
About Steamhouse India
Steamhouse India is an industrial steam solutions provider that was founded in 2014 and is based in Surat, Gujarat. The company caters to 167 clients spread across the nation, according to the official release.
The company supplies steam to manufacturing companies by using an innovative and centralised alternative to traditional captive boilers. This enables the clients to lower their emissions and cut operating costs to improve production efficiency.
“The steam is sold at 190 degrees and innovatively uses IoT and AI, from procurement to distribution,” said the company in the release.
Steamhouse India’s total operational and distribution capacity stood at 330 TPH and 200 TPH, respectively, as of 31 August 2024. The company has over 45 kilometres of pipeline infrastructure in key industrial hubs like Sachin, Vapi, Ankleshwar, Sarigram, Panoli, and Nadesari, establishing a monopoly in their areas of operations.
The clients of the company are reportedly benefiting from a 25 to 30 per cent reduction in production costs compared to using individual small boilers.
According to the company’s financial statements for the fiscal year ended 2023-24, Steamhouse India’s total revenue was at ₹291.71 crore. The company’s EBIDTA witnessed a rise to ₹70.14 crore in the FY 2024-25, compared to ₹58.79 crore in the previous financial year.
The company’s profitability was at ₹25.97 crore, according to the official release.
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