Steamhouse India Files Confidential IPO Papers to Raise up to ₹700 Crore

Steamhouse India has submitted confidential papers to SEBI for a proposed initial public offering (IPO), aiming to raise between ₹500 crore and ₹700 crore. The filing was made under the pre-filed draft red herring prospectus (DRHP) route. The company plans to list its equity shares on the main board of Indian stock exchanges. The exact size and timing of the issue have not been publicly disclosed.

Background and Client Base

Founded in 2014, Steamhouse India is headquartered in Surat and operates in the industrial steam and gas supply sector. The company currently serves more than 167 clients across India. It is part of the Sanjoo Group’s industrial legacy. Its service footprint covers a range of industries and locations.

Steamhouse India Financial Performance

According to the company’s FY24 annual report, Steamhouse India reported a total revenue of ₹291.71 crore. The net profit for the year stood at ₹25.97 crore. These figures reflect its current operational scale ahead of the IPO. No additional financial details have been disclosed in the filing.

Projects and Locations

The company is carrying out expansion projects in Pirana (Ahmedabad), Dahej SEZ, Vapi Phase 3, Ankleshwar Phase 3, Panoli Phase 2, Jhagadia, and Nandesari Phase 2. It also plans to expand into Andhra Pradesh, Telangana, Maharashtra, Himachal Pradesh, Madhya Pradesh, Rajasthan, Uttar Pradesh, and Haryana.

Use of Confidential Pre-Filing Route

The confidential route allows Steamhouse India to delay public disclosure of IPO details. Companies using this method have an 18-month window to launch the IPO after SEBI’s final comments, compared to 12 months in the traditional route. They can also revise the issue size by up to 50% before submitting the final DRHP.

Read more: How to Buy Tata Capital Unlisted Shares Ahead of Its IPO?

Conclusion

Steamhouse India’s confidential IPO filing places it among a growing list of firms using this route to prepare for a potential public listing. Further details will be available once the updated DRHP is made public.

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