Steamhouse India IPO allotment today: Check status on BSE, NSE and registrar; GMP at 30%

As per the latest business developments, The allotment of shares in Steamhouse India’s Rs 414-crore initial public offering (IPO) is scheduled to be finalised today, September 15, after the industrial gas supplier attracted firm demand during its three-day bidding period.

The IPO was subscribed 30.49 times by the close of bidding on September 11, according to NSE data. Market participants placed bids for 114.75 crore equity shares against 3.76 crore shares on offer. The non-institutional investor (NII) category was subscribed 44.30 times, followed by qualified institutional buyers (QIBs) at 43.91 times and retail market participants at 16.90 times.

The offering opened on September 9 and closed on September 11, with the price range set at Rs 77-81 per share. The IPO comprises a fresh offering of Rs 353 crore and an offer for sale (OFS) of Rs 61 crore. The shares are scheduled to list on the BSE and NSE on September 17.

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The grey market premium for Steamhouse India has moderated from the marks noted during the subscription period.

According to InvestorGain, the latest GMP was Rs 24 per share on September 15. At the upper end of the Rs 81 price range, this implies an estimated stock-exchange debut price of Rs 105, representing a potential premium of around 29.63 percent.

GMP is not an official market indicator and does not guarantee the stock-exchange debut price or returns. It should not be considered a measure of the firm's financial performance or fundamentals.

How to check Steamhouse India IPO allotment status

Market participants can check the Steamhouse India IPO allotment status through KFin Technologies, the registrar to the offering, as well as the BSE and NSE websites. The basis of allotment is scheduled for September 15, while refunds and demat credit are anticipated on September 16.

Steamhouse India IPO allotment status via KFin Technologies

Step 1. Visit KFin Technologies IPO allotment status at https://ipostatus.kfintech.com/

Step 2. Select Steamhouse India from the IPO list.

Step 3. Choose the appropriate search option, such as PAN, application number or DP ID/Client ID.

Step 4. Enter the required details.

Step 5. Submit the form to view the allotment status.

Steamhouse India IPO allotment status via BSE

1. Visit BSE IPO application status at https://www.bseindia.com/market participants/appli_check

2. Select Equity as the offering type.

3. Choose Steamhouse India from the offering list.

4. Enter your application number or PAN.

5. Submit the details to check the allotment status.

Steamhouse India IPO allotment status via NSE

Step 1. Visit the NSE IPO bid verification page at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

Step 2. Select the relevant IPO/bid verification option.

Step 3. Choose Steamhouse India from the available offering list.

Step 4. Enter your PAN or application details.

Step 5. Submit the form to view the available bid/allotment information.

The Rs 414-crore offering consists of a fresh offering of Rs 353 crore and an OFS of Rs 61 crore by promoter Vishal Sanwarprasad Budhia. The price range was set at Rs 77-81 per share, with a lot size of 185 shares. A retail investor needed Rs 14,985 to apply for one lot at the upper price range.

Steamhouse India plans to deploy Rs 180 crore from the fresh offering towards repayment of debt.

Another Rs 75.9 crore has been earmarked for capacity expansion at its Ankleshwar and Panoli facilities. The firm will additionally use the funds for capital expenditure related to a new steam-generation manufacturing facility at Dahej GIDC.

The remaining proceeds will be utilised for general corporate purposes.

Before the IPO opened, Steamhouse India boosted Rs 124.2 crore from six anchor market participants. The firm allotted 1.53 crore shares at Rs 81 apiece.

Singularity Large Value Fund III and Chartered Finance & Leasing were among the largest anchor market participants, with each acquiring 51.97 lakh shares worth around Rs 42.09 crore.

Abakkus Emerging Opportunities Fund-1 and Emerge Capital Opportunities Scheme each purchased 12.34 lakh shares for Rs 10 crore. Niveshaay Sambhav Fund acquired 18.51 lakh shares worth Rs 15 crore, while 31 Degrees North Fund bought 6.17 lakh shares for Rs 5 crore.

Steamhouse India specialises in the generation and centralised distribution of industrial gases, including steam and nitrogen, through pipeline networks. The firm supplies these gases to industrial customers through distributed infrastructure, offering an alternative to individual on-site generation or storage systems.

The firm operates pipeline networks across industrial clusters including Sachin, Vapi, Ankleshwar, Sarigam, Panoli and Nadesari. Its customer base includes chemical and pharmaceutical manufacturers.

Equirus Capital is the book-running lead manager for the offering, while KFin Technologies is the registrar.