Madhusudan Kela-backed fund buys stake in IPO-bound Steamhouse India for Rs 40 crore
- Posted on June 25, 2026
- By Business News Today
- 0 Views
- 1 min read
Madhusudan Kela-backed fund buys stake in IPO-bound Steamhouse India for Rs 40 crore
Ace investor Madhusudan Kela's funds, along with Niveshaay Sambhav Fund, have injected Rs 49.99 crore into Steamhouse India via a pre-IPO placement. This strategic investment positions these entities to hold nearly 3% of the company's pre-IPO equity. Steamhouse India, a Surat-based firm, operates a unique centralized steam supply model for industries and is preparing for its initial public offering.
