Steamhouse India Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, to the stock exchanges. The report, issued by CRISIL Ratings Limited, confirms that the utilization of Initial Public Offering (IPO) proceeds has been in line with the objects stated in the company’s Prospectus. The Audit Committee and the Board of Directors have reviewed and taken this report on record.
Monitoring Agency Report for Q2 2026 Submitted
Steamhouse India Limited has officially informed the stock exchanges, BSE Limited and National Stock Exchange of India Limited, regarding the Monitoring Agency Report for the quarter that concluded on September 30, 2026. This report details the utilization of funds raised through the company’s Initial Public Offering (IPO).
CRISIL Ratings Confirms Compliance
The report has been prepared by CRISIL Ratings Limited, the appointed Monitoring Agency. As per the regulatory requirements, including Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 41(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, the company has submitted this report. CRISIL Ratings has confirmed that the proceeds have been utilized for the purposes outlined in the company’s Offer Document.
Board and Audit Committee Review
The Monitoring Agency Report underwent review and was taken on record by the Audit Committee and the Board of Directors of Steamhouse India Limited during their respective meetings held on October 29, 2026. Based on this review, the company has affirmatively stated that there has been no deviation or variation in the utilization of IPO proceeds from the objects specified in the Prospectus.
Issue Details at a Glance
The IPO of Steamhouse India Limited was conducted from September 09, 2026, to September 11, 2026, with an issue size of Rs 3,530.00 million. The gross proceeds amounted to this figure, with issue expenses totaling Rs 304.94 million, resulting in net proceeds of Rs 3,225.06 million. The report details the utilization of these net proceeds across various objects including repayment of borrowings, capital expenditure for facility expansion, and general corporate purposes.
Utilization of Funds
During the reported quarter, the company utilized Rs 1,418.95 million towards the repayment or prepayment of outstanding borrowings. For funding capital expenditure, Rs 5.00 million was utilized for the Ankleshwar and Panoli facilities. No utilization was reported for the steam generation facility at Dahej GIDC. General corporate purposes saw an allocation of Rs 270.75 million. The total amount utilized for these purposes during the quarter amounted to Rs 1,694.70 million, leaving an unutilized balance of Rs 1,530.36 million from the net proceeds.
Unutilized Proceeds Deployment
The unutilized proceeds are primarily invested in fixed deposits with SBM Bank Limited and Bandhan Bank Limited, as well as other short-term instruments. The total amount invested in these instruments as of September 30, 2026, stands at Rs 1,635.13 million. The market value of these investments at the end of the quarter was also reported.
Source: BSE
