Steamhouse India lines up $13M anchor round ahead of US$56.2M IPO
What's the deal? Industrial steam supplier Steamhouse IndiaDealroom has a profile for this one. Try Dealroom → raised US$16.9M from anchor investors on September 8, ahead of its US$56.2M IPO. The offer opens for subscription from September 9 to 11, priced at US$1.05–US$1.1 per share.
The breakdown: The IPO combines a fresh issue of up to US$47.9M with an offer-for-sale of roughly US$8.28M. Promoter Vishal Sanwarraprasad Budhia will offload shares in the offer-for-sale portion.
Who's backing it? Anchor investors received 1.53 crore shares at US$1.1 apiece. The round drew Singularity Large Value Fund III, Chartered Finance & LeasingDealroom has a profile for this one. Try Dealroom →, Abakkus Emerging Opportunities Fund-1Dealroom has a profile for this one. Try Dealroom →, Niveshaay Sambhav Fund, Emerge Capital Opportunities Scheme, and 31 Degrees North FundDealroom has a profile for this one. Try Dealroom →.
Why now? The listing follows a pre-IPO placement in June, when Steamhouse raised nearly US$6.79M from funds backed by investor Madhusudhan Kela and Niveshaay Sambhav Fund. It plans to use fresh-issue proceeds to repay debt, expand capacity at its Ankleshwar and Panoli facilities, and set up a new steam-generation unit in the Dahej special economic zone.
What's the endgame? Founded in 2014, Steamhouse supplies industrial steam through a centralised utility model using dedicated pipeline infrastructure. It serves clients across chemicals, textiles, pharmaceuticals, food processing, paper, and manufacturing.
The signal: Steamhouse is diversifying beyond its core into nitrogen compression, waste-to-energy solutions, and aviation logistics. Its shares will list on the BSE and NSE.
Read more: money.rediff.com
Image credit: EU-Ukraine cooperation
