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Steamhouse India IPO Review

Steamhouse India IPO has been reviewed by 7 analysts, and the overall consensus is Apply — carrying a score of 71. Out of the 7 analysts who have covered this IPO, 4 recommend subscribing while 3 advise caution or avoidance — reflecting a broadly positive view from the analyst community.

The issue is priced in the band of ₹77-81 per share, with a minimum application size of 185 shares (minimum investment of approximately ₹14,985 at the upper band). Subscription ran from 09 Sep 2026 to 11 Sep 2026. The issue size is ₹414 crore, a mix of fresh issue and offer for sale. As of now, the grey market premium (GMP) for Steamhouse India IPO is quoting at ₹13.5 (16.67%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
71/ 100
Apply 4 of 7 recommend subscribing
How analysts voted
Apply 4
May apply 1
Avoid 2
Not rated 1

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

Steamhouse India runs centralised boiler facilities and closed-loop steam pipelines across Gujarat industrial hubs including Ankleshwar, Panoli, Nandesari and Dahej, letting chemical, pharmaceutical and textile plants replace their own high-emission boilers. FY26 income was ₹494.97 crore with profit of ₹38.64 crore. Both analysts covering it said subscribe.

Listing gains

Valuation is the caveat. The notes put the issue at over 57 times FY26 earnings and say plainly that a substantial portion of the near-term growth potential is already reflected in that price. Both analysts still recommend subscribing, but on structural grounds rather than on cheapness, suggesting a moderate listing.

Short-term strategy

Income grew about 24 percent in FY26 with EBITDA rising to ₹83.49 crore, though profit of ₹38.64 crore on that EBITDA reflects the depreciation and interest a pipeline network carries. Customer concentration is moderate, with the largest customer at 18.4 percent of FY26 revenue and the top ten at 47.9 percent.

Long-term strategy

The long-term case is structural: first-mover advantage in centralised industrial steam, entry barriers from owning the distribution network itself, sticky long-term B2B contracts, and environmental tailwinds as industrial users are pushed away from decentralised high-emission boilers. Expansion depends on building pipelines into new industrial clusters.

How this is written: an AI-assisted summary of the 8 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Steamhouse India IPO?

The analyst consensus for Steamhouse India IPO tracked on this page is Apply, with a score of 71/100. Out of 7 analysts who have reviewed this IPO, 4 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 71 mean for Steamhouse India IPO?

The score of 71 is an aggregate of all analyst ratings tracked for Steamhouse India IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Read the individual analyst verdicts above for more context.

What was the actual listing price of Steamhouse India IPO?

Steamhouse India IPO listed on September 17, 2026 at ₹94.5, against the issue price of ₹81 — a gain of +16.67% (₹13.5 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Steamhouse India IPO?

Steamhouse India IPO was priced at ₹77-81 per share. The minimum lot size is 185 shares, making the minimum investment approximately ₹14,985 at the upper end of the price band. Subscription ran from 09 Sep 2026 to 11 Sep 2026.

Explore Steamhouse India IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Steamhouse India IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Apply
Score
71 / 100
Listed at
₹94.5
Full IPO details