Steamhouse IPO Subs 8.36 Times; Grey Market Premium Signals 28% Listing Gain
Steamhouse India's third day of bidding saw an 8.36x subscription multiple and an Rs 23 grey market premium, suggesting a potential 28% gain at listing.
On the final day of its public offering, Steamhouse India attracted strong investor interest with the entire issue subscribed 8.36 times by 1 pm. The bid covered 3.76 crore equity shares on offer. Grey market activity indicated a premium of Rs 23 per share over the upper price band limit of Rs 81, suggesting a potential 28% gain when shares start trading. Retail investors were particularly active, with the portion reserved for them subscribed 8.82 times against an offering of 1.88 crore shares. The total application included a fresh issue of Rs 353 crore and an offer for sale of Rs 61 crore. Promoter Vishal Sanwarprasad Budhia was selling off his entire stake through the offer for sale component. Equirus Capital Ltd served as the book-running lead manager. Shares are set to trade on both the National Stock Exchange and Bombay Stock Exchange. Allotment is expected to be finalised on September 15, 2026, with the tentative listing date scheduled for September 17, 2026.
