Steamhouse India IPO GMP Today: GMP Holds at ₹20, Issue Subscribed 0.80x

10 Sep 2026 , 11:41 AM

The Steamhouse India IPO is yet to see full subscription, but retail investors have already pushed their portion into oversubscription.

As of 11:21 AM on September 10, 2026, the issue was subscribed 0.80 times overall, with bids received for 3.58 crore shares. Retail investors were the most active, with their portion subscribed 1.30 times.

The grey market is showing a more positive picture. Steamhouse India IPO GMP stood at ₹20 on September 10, unchanged from the previous day. With the IPO price fixed at ₹81 per share, the latest GMP points to an estimated listing price of ₹101.

That implies a potential listing premium of 24.69% over the issue price, if the current grey market premium holds.

Steamhouse India IPO GMP Today

The Steamhouse India IPO GMP was ₹20 as of 9:54 AM on September 10.

The premium has remained stable after moving up over the last few sessions. GMP was at ₹0 on September 7 and then jumped to ₹18 on September 8. It moved further to ₹20 on September 9 and has held at that level on September 10.

The recent trend is as follows:

GMP Date	IPO Price	GMP	Estimated Listing Price	Estimated Gain
10 Sep 2026	₹81	₹20	₹101	24.69%
9 Sep 2026	₹81	₹20	₹101	24.69%
8 Sep 2026	₹81	₹18	₹99	22.22%
7 Sep 2026	₹81	₹0	₹81	0.00%

The shift from zero GMP to ₹20 in just a couple of sessions is notable. It suggests that grey-market sentiment has improved, although the IPO subscription numbers are telling a more mixed story.

Steamhouse India IPO Subscription at 0.80x

By 11:21 AM on September 10, the Steamhouse India IPO had received bids for 3,57,77,779 shares.

The overall subscription stood at 0.80 times.

Retail investors have shown the strongest participation so far. Their quota was subscribed 1.30 times, with bids for 1,78,88,889 shares.

The NII portion was at 0.70x, while the QIB category had not yet received enough bids to reach the one-time mark.

Investor Category	Subscription
QIB	0.00x
NII	0.70x
S-NII	1.21x
B-NII	0.44x
Retail	1.30x
Overall	0.80x

The figures show a clear difference between retail and institutional participation at the current stage of bidding.

Retail Investors Lead Steamhouse India IPO Demand

Retail investors are currently driving the subscription numbers.

The retail category has been subscribed 1.30 times, meaning bids have already exceeded the shares reserved for individual investors.

Small NII investors have also crossed the one-time mark, with the S-NII portion subscribed 1.21 times.

The larger NII category, however, remains below full subscription at 0.44x.

QIB participation is the weakest at this point, with the category showing 0.00x subscription based on the latest data.

These numbers can change considerably as bidding progresses, particularly toward the final hours of the issue.

Steamhouse India IPO GMP Rises to ₹20

The grey market movement has been relatively quick.

There was no GMP recorded on September 5 and September 6. On September 7, the GMP was ₹0, meaning the estimated listing price was the same as the ₹81 IPO price.

A day later, the GMP jumped to ₹18. It then moved to ₹20 on September 9 and has remained there on September 10.

At the current premium of ₹20, the estimated listing price works out to ₹101.

That represents a potential gain of ₹20 per share, or 24.69%, over the issue price.

For the lot size used in the supplied GMP calculation, the estimated profit is ₹3,700 if the shares list at the indicated price.

However, GMP is an unofficial market indicator. The actual listing price can be very different.

Steamhouse India IPO Estimated Listing Price

The current calculation is straightforward:

IPO price: ₹81
GMP: ₹20
Estimated listing price: ₹101

At ₹101, the estimated premium over the issue price comes to 24.69%.

The implied listing value has increased from ₹81 on September 7 to ₹101 now, based on the change in GMP.

That is a ₹20 improvement in the estimated listing price within a few sessions.

What the Subscription Data Shows

Steamhouse India IPO currently presents a mixed picture.

On one side, the GMP has turned positive and climbed to ₹20. Retail investors have also subscribed more than their allocated quota, while S-NII demand has crossed the one-time mark.

On the other hand, overall subscription remains below one time at 0.80x. QIB participation is yet to pick up, while the B-NII category is subscribed only 0.44 times.

The final subscription numbers could therefore look quite different from the current figures.

For investors tracking the IPO, the institutional response and the final-day bidding pace will be important numbers to watch.

Steamhouse India IPO GMP vs Subscription

The GMP and subscription data are currently sending different signals.

The grey market has strengthened from ₹0 to ₹20, pointing to a potential listing premium of 24.69%.

Subscription, however, remains at 0.80x overall.

Retail demand is relatively strong at 1.30x, but QIB and larger NII participation is still catching up.

This is why investors should not look at the GMP in isolation. A positive grey-market premium does not guarantee a strong listing, and the GMP itself can change before listing.

Steamhouse India IPO: Key Numbers

• IPO price: ₹81 per share
• Latest GMP: ₹20
• Estimated listing price: ₹101
• Implied listing premium: 24.69%
• Overall subscription: 0.80x
• QIB subscription: 0.00x
• NII subscription: 0.70x
• S-NII subscription: 1.21x
• B-NII subscription: 0.44x
• Retail subscription: 1.30x
• Latest GMP update: September 10, 2026, 9:54 AM
• Subscription data: September 10, 2026, 11:21 AM

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