Steamhouse India shares jump nearly 17 per cent on debut

Representational Image. File pic.

Shares of industrial gas producer Steamhouse India on Thursday listed with a premium of nearly 17 per cent against the issue price of Rs 81.

The stock started trading at Rs 93, up 14.81 per cent from the issue price on the BSE. At the NSE, the stock made its market debut at Rs 94.50, a premium of 16.66 per cent.

The company's market valuation stood at Rs 2,689.71 crore.

The Rs 414-crore IPO of Steamhouse India Ltd was subscribed 30.49 times on Friday last week.

The IPO had a fresh issue of Rs 353 crore and an OFS of Rs 61 crore. Its price range was Rs 77-81 per share.
Steamhouse India Ltd had raised Rs 124.20 crore from anchor investors.

Proceeds from the fresh issue will be used to repay part of the company's existing debt, expand capacity at its Ankleshwar and Panoli facilities, set up a new steam-generation unit in the Dahej SEZ and meet general corporate requirements.

Established in 2014, Steamhouse supplies industrial steam to customers through a centralised utility model using dedicated pipeline infrastructure. The company serves industrial clients across sectors including chemicals, textiles, pharmaceuticals, food processing, paper and manufacturing.

The company is also diversifying into nitrogen compression and distribution, waste-to-energy solutions and aviation logistics.

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