Industrial steam utility provider Steamhouse India Ltd has secured approximately ₹50 crore in pre-IPO funding, according to reports from The Hindu Businessline.
The capital raise comes from funds backed by investor Madhusudhan Kela and the Niveshaay Sambhav Fund.
The company intends to use the proceeds to expand its operations and reduce existing debt ahead of its proposed initial public offering.
The funding round signals continued investor interest in Indian infrastructure and utility plays as the domestic IPO market shows signs of renewed activity.
Investment bankers are currently preparing roadshows for at least five to six private equity-backed companies, indicating a broader thaw in the market after a period of subdued listings.
Steamhouse’s move aligns with a growing pipeline of companies seeking public market access.