Steamhouse India Raises Rs.124.20 Crore From Anchor Investors
SURAT : Steamhouse India Limited has raised ₹124.20 crore from anchor investors, giving a strong pre-IPO boost to the Surat-based company ahead of its proposed ₹414-crore initial public offering....
SURAT : Steamhouse India Limited has raised ₹124.20 crore from anchor investors, giving a strong pre-IPO boost to the Surat-based company ahead of its proposed ₹414-crore initial public offering.
The company, which specialises in the production and centralised distribution of industrial gases, including steam and nitrogen, through its pipeline network, allotted 1,53,33,332 equity shares to anchor investors at the upper price band of ₹81 per share. Each share carries a face value of ₹2.
The strong anchor participation signals institutional interest in the company’s business model and comes ahead of the public issue.
Steamhouse India is among the pioneers of community boiler systems in India, providing centralised steam and industrial gas solutions to customers through dedicated pipeline infrastructure.
The company’s total IPO size has been fixed at ₹414 crore, with the anchor book witnessing participation from several prominent domestic institutional investors.
Among the investors participating in the anchor book are Singularity Large Value Fund 3, backed by investor Madhusudan Kela; Chartered Finance and Leasing Limited; Abacus Emerging Opportunities Fund-1, backed by Sunil Singhania; Niveshay Sambhav Fund; Emerge Capital Opportunities Scheme; and 31 Degrees North Fund-1.
The ₹81 allotment price represents the upper end of the IPO price band, underlining the institutional demand seen during the anchor allocation process.
Steamhouse India’s business is focused on supplying industrial utilities through centralised systems, with its pipeline-based distribution model aimed at providing efficient access to steam and gases for industrial users.
The ₹124.20-crore anchor mobilisation is expected to place the company’s IPO firmly on the radar of investors as it moves towards the public issue.
With the anchor book attracting participation from established investment funds and institutional investors, the company is now set to enter the next phase of its proposed ₹414-crore IPO.
