2 hrs ago
Steamhouse India Sets IPO Price Band at ₹77–81
Steamhouse India is planning to sell shares to the public.
Each share will cost between ₹77 and ₹81.
People can apply between 9 and 11 September.
One application lot contains 185 shares.
The company wants to raise ₹353 crore through new shares.
Its promoter also plans to sell shares worth ₹61 crore.
Some of the new money will repay loans.
More money will expand factories and build a steam facility.
The shares are expected to begin trading on 17 September.
Steamhouse India has set its IPO price band at ₹77–81 per equity share, with a lot size of 185 shares.
The IPO subscription period is scheduled for 9–11 September, with anchor-investor allocation planned for 8 September.
The issue includes a ₹353 crore fresh share offering and a ₹61 crore offer for sale by promoter Vishal Sanwarprasad Budhia.
Steamhouse India plans to use ₹180 crore to repay debt and ₹114 crore to expand facilities and establish a new steam-generation plant.
The shares are expected to be listed on the Bombay Stock Exchange and National Stock Exchange of India on 17 September.
- Who
- Steamhouse India Limited, its promoter Vishal Sanwarprasad Budhia, and prospective investors.
- What
- Steamhouse India is launching an IPO with a ₹77–81 price band, a 185-share lot size, and fresh shares worth ₹353 crore alongside a ₹61 crore offer for sale.
- Where
- The shares are expected to list on the Bombay Stock Exchange and National Stock Exchange of India; the company operates facilities in Gujarat.
- When
- Subscription is scheduled for 9–11 September; allotment is tentatively set for 15 September, refunds and demat credit for 16 September, and listing for 17 September.
- Why
- The company plans to repay debt, expand its Ankleshwar and Panoli facilities, build a steam-generation facility at Dahej GIDC, and fund general corporate purposes.
Key facts
- Price band
- ₹77–81 per equity share
- Face value
- ₹2 per equity share
- Lot size
- 185 equity shares and multiples thereafter
- Fresh issue
- ₹353 crore
- Offer for sale
- ₹61 crore of shares to be sold by promoter Vishal Sanwarprasad Budhia
- Debt repayment allocation
- ₹180 crore
- Expected listing date
- 17 September on the Bombay Stock Exchange and National Stock Exchange of India
Sources
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