Steamhouse India IPO: Industrial boiler and gas supplier Steamhouse India has applied to IPO through a confidantic pre-filing route. According to the information received from the sources associated with the company, the target of Steamhouse India from its IPO is to raise an amount between ₹ 500 crore to ₹ 700 crore. In a public announcement on July 2, Steamhouse India said that it ‘has submitted a confidential pre-filing draft Red Herring Prospectus on the main board in connection with the proposed IPO of SEBI and stock exchanges. However, how much the size of the issue will be, it has not yet been officially disclosed.
Now know about the company
Steamhouse India, a company associated with Sanju Group, was established in 2014 and is headquartered in Surat. The company provides services to more than 167 customers across the country. Company Peerana, Ahmedabad Dowry SEZ; Vapi Phase 3; Ankleshwar Phase 3; Panoli Phase 2; Quarrels; Extension work is going on in Nandesari Phase 2. It also plans to expand operations in Andhra Pradesh, Telangana, Maharashtra, Himachal Pradesh, Madhya Pradesh, Rajasthan, Uttar Pradesh and Haryana.
Let us tell you that according to the company’s annual report of FY 24, its total revenue was ₹ 291.71 crore and the profit was ₹ 25.97 crore.
Companies adopting Confidential Route for IPO
The company has chosen the option of Confidential Pre-Filing Route, which allows it to stop the IPO data coming into public under DRHP to later stages. This route is becoming popular among Indian firms who want flexibility in their IPO plan. Under this, companies can revise the size of the primary issue up to 50 percent up to updated DRHP phase.
In recent months, logistics service provider Shadowfax Technologies, Gaja Alternative Asset Management, Commerce enabling platform shiprocket, tata capital, addtech unicorne physicswallah and Viarables Brand Boat’s original company IMAGINE MARKETING The option of confidential filing was opted. In 2024, food delivery giant Swiggy and retail chain Vishal Mega Mart also released their IPOs after similar filing.