Latest news with #SteamhouseIndia
Mint
a day ago
- Business
- Mint
Gujarat-based Steamhouse India files confidential DRHP with Sebi to raise up to ₹700 crore via IPO
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. 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. 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. 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, as per the company data. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
&w=3840&q=100)
Business Standard
a day ago
- Business
- Business Standard
Steamhouse India files confidential IPO papers to raise up to ₹700 cr
Industrial steam and gas supplier Steamhouse India has filed for an initial public offering (IPO) through a confidential pre-filing route, with an aim to raise between Rs 500 crore and Rs 700 crore, industry sources familiar with the development said. In a public announcement on Wednesday, Surat-based Steamhouse India said it has submitted "the pre-filed draft red herring prospectus with Sebi and the stock relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges". While the exact issue size has not been officially disclosed, industry sources estimated that the IPO could be in the range of Rs 500 crore to Rs 700 crore. Built on the industrial legacy of Sanjoo group, the company was founded in 2014 and is headquartered in Surat. Steamhouse India serves over 167 clients across the country. The company has expansions underway at Pirana, Ahmedabad; Dahej SEZ; Vapi Phase 3; Ankleshwar Phase 3; Panoli Phase 2; Jhagadia; Nandesari Phase 2. It also plans to expand operations in Andhra Pradesh, Telangana, Maharashtra, Himachal Pradesh, Madhya Pradesh, Rajasthan, Uttar Pradesh and Haryana. As per the company's FY24 annual report, its total revenue was Rs 291.71 crore and profit stood at Rs 25.97 crore. The company has opted for the confidential pre-filing route, which allows it to withhold public disclosure of IPO details under the draft red herring prospectus (DRHP) until later stages. This route is gaining traction among Indian firms aiming for flexibility in their IPO plans. In recent months, logistics service provider Shadowfax Technologies, Gaja Alternative Asset Management, commerce enablement platform Shiprocket, Tata Capital, edtech unicorn PhysicsWallah and Imagine Marketing, the parent company of wearables brand boAt, also chose confidential filings. In 2024, food delivery giant Swiggy and retail chain Vishal Mega Mart floated their IPOs following similar filings. Market experts note that the confidential pre-filing route offers companies greater flexibility and reduces the pressure to go public quickly. Unlike the traditional route, which requires companies to launch their IPOs within 12 months of receiving Sebi's approval, the pre-filing route extends this window to 18 months from the receipt of final comments. Additionally, firms can modify the primary issue size by up to 50 per cent until the updated DRHP stage.
