The Saha–Basu equation of state, which has attracted little attention from the scientific community, is here revisited. This equation has been derived using an approach that is different from the original approach. Expressions for some physical parameters, such as critical constants, Boyle’s temperature, critical coefficients etc, have been derived and the equation has been expressed in terms of reduced parameters. Amagat’s curves have been explained using the virial form of the equation. Some thermodynamic quantities, such as the Joule–Thomson coefficient, inversion temperature and heat capacity relations, have been arrived at from this equation of state. The comparison has been made with other related equations of state.