- Steamhouse India raised Rs 124.20 crore from anchor investors before its IPO launch.
- The company allocated 1.53 crore equity shares to anchor investors at Rs 81 each.
- The Rs 414-crore IPO opens on Sept 9 and closes on Sept 11 with a price band of Rs 77-81.
Industrial gas producer Steamhouse India Ltd on Tuesday raised Rs 124.20 crore from anchor investors ahead of its initial public offering (IPO).
The company has allocated 1.53 crore equity shares to anchor investors at Rs 81 apiece, according to a circular uploaded on the BSE website.
The investors in the anchor round included Singularity Large Value Fund III, Chartered Finance & Leasing Ltd, Abakkus Emerging Opportunities Fund-1, Niveshaay Sambhav Fund, Emerge Capital Opportunities Scheme and 31 Degrees North Fund, as per the circular.
Steamhouse India's Rs 414-crore IPO will open for subscription on Sept. 9 and close on Sept. 11.
The IPO price band has been fixed at Rs 77-81 per equity share.
The public offer comprises a fresh issue of shares aggregating up to Rs 353 crore and an offer-for-sale (OFS) portion worth around Rs 61 crore. Promoter Vishal Sanwarraprasad Budhia will offload shares in the OFS.
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.
In June, Steamhouse raised nearly Rs 50 crore through a pre-IPO placement from funds backed by investor Madhusudhan Kela and Niveshaay Sambhav Fund.
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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.
Shares of the company will be listed on the BSE and NSE.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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