Surat: Steamhouse India, India’s first centralized industrial steam supply company, has filed a Confidential Draft Red Herring Prospectus (CDRHP) with the Securities and Exchange Board of India (SEBI) for an upcoming initial public offering (IPO).
While the company has not publicly disclosed the issue size, market sources estimate the IPO to be valued between ₹500–700 crore.
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Founded in 2014 under the Sanjoo Group, Steamhouse India is a category pioneer delivering community boiler solutions that lower emissions, reduce operational costs, and improve efficiency for over 167 industrial clients across the country.
The company is led by Chairman and Managing Director Vishal S Budhia, and is headquartered in Surat, Gujarat.
Industry First: Centralized Steam-as-a-Service
Steamhouse India offers steam at 190°C through a pipeline-based model, leveraging AI and IoT for fuel procurement, consumption analytics, and smart distribution.
Its infrastructure spans 45+ kilometers of pipelines in key industrial zones like Vapi, Ankleshwar, Panoli, Nandesari, and Sachin, enabling a monopoly-based supply model in each hub.
Clients benefit from a 25–30% reduction in production costs and mass emission reduction of 65–70%, making it a sustainable and cost-effective alternative to captive boilers.
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Focus on Waste-to-Steam and Clean Tech
Steamhouse India is also a clean energy innovator. Its first Waste-to-Steam (W2S) boiler in Vapi uses non-recyclable plastic waste from paper mills to generate steam.
In March 2024, it secured a 5 MW W2S project from the Ahmedabad Municipal Corporation, involving the development of a 300 TPD plant under a PPP model.
As of August 31, 2024, its operational and distribution capacity stood at 330 TPH and 200 TPH, respectively.
Steamhouse India: Financial Highlights (FY23–24)
- Revenue: ₹291.71 crore
- EBITDA: ₹70.14 crore (vs. ₹58.79 crore YoY)
- Net Profit: ₹25.97 crore
The company is now foraying into nitrogen compression and distribution, municipal waste conversion, and aviation logistics, having applied for a Non-Scheduled Operator Permit (NSOP) to expand into cargo and passenger segments.
Pan-India Expansion Plans
Steamhouse India is actively expanding its infrastructure to industrial zones in Pirana, Dahej, Vapi (Phase 3), Ankleshwar (Phase 3), Jhagadia, and Panoli (Phase 2). Future rollout plans include Andhra Pradesh, Telangana, Maharashtra, Himachal Pradesh, Rajasthan, Uttar Pradesh, Haryana, and Madhya Pradesh.
“We’re not just supplying steam – we’re revolutionizing India’s industrial energy landscape through innovation, sustainability, and scalability,” said a company spokesperson.
