Axiom Gas Engineering IPO
Updated 11 Sept 2026, 5:03 pm.
Minimum investment (Individual investors (IND))
₹2,12,000
2 lots · 4,000 shares at the upper price band
Price band
₹50–53
Latest GMP
₹0
0.0% of the ₹53 upper band
Est. listing price
₹0
Issue size
₹47.28 Cr
GMP history
Each point is a recorded observation from the scheduled data sync.
| Observed | GMP | Est. listing price |
|---|---|---|
| 11 Sept 2026, 5:03 pm | ₹0 | ₹0 |
| 11 Sept 2026, 5:01 pm | ₹0 | ₹0 |
| 11 Sept 2026, 12:50 pm | ₹0 | ₹0 |
| 11 Sept 2026, 12:49 pm | ₹0 | ₹0 |
| 11 Sept 2026, 8:05 am | ₹0 | ₹0 |
| 11 Sept 2026, 8:03 am | ₹0 | ₹0 |
| 11 Sept 2026, 7:00 am | ₹0 | ₹0 |
| 11 Sept 2026, 6:55 am | ₹0 | ₹0 |
| 11 Sept 2026, 6:50 am | ₹0 | ₹0 |
| 11 Sept 2026, 6:28 am | ₹0 | ₹0 |
| 10 Sept 2026, 6:17 pm | ₹0 | ₹0 |
| 10 Sept 2026, 5:37 pm | ₹0 | ₹0 |
| 10 Sept 2026, 5:30 pm | ₹0 | ₹0 |
| 10 Sept 2026, 5:00 pm | ₹0 | ₹0 |
| 10 Sept 2026, 4:59 pm | ₹0 | ₹0 |
| 10 Sept 2026, 12:56 pm | ₹0 | ₹0 |
| 10 Sept 2026, 12:55 pm | ₹0 | ₹0 |
| 10 Sept 2026, 11:20 am | ₹0 | ₹0 |
| 10 Sept 2026, 8:08 am | ₹0 | ₹0 |
| 10 Sept 2026, 6:13 am | ₹0 | ₹0 |
| 10 Sept 2026, 6:10 am | ₹0 | ₹0 |
| 10 Sept 2026, 6:09 am | ₹0 | ₹0 |
| 9 Sept 2026, 5:09 pm | ₹0 | ₹0 |
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- SME
- Price band
- ₹50–53
- Issue size
- ₹47.28 Cr
- Lot size
- 2,000
- Opens
- 18 Sept 2026
- Closes
- 22 Sept 2026
- Allotment
- 23 Sept 2026
- Listing
- 25 Sept 2026
- Est. listing price
- ₹0
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- Kfin Technologies Ltd.
- Minimum investment
- ₹2,12,000 (2 lots · 4,000 shares)
- Face value
- ₹5 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital only
- Listing at
- NSE SME
- Refunds
- 24 Sept 2026
- Shares credited
- 24 Sept 2026
- Promoter holding
- 98.28% before · 72.15% after
- Lead managers
- SKI Capital Services Ltd.
Offer documents & links
Full issue details
Details as published for this issue, read 11 Sept 2026, 5:10 pm. Verify against the RHP before applying.
IPO Details
| IPO Date | 18 to 22 Sep, 2026 |
|---|---|
| Listing Date | Fri, Sep 25, 2026 T |
| Face Value | ₹ 5 per share |
| Price Band | ₹50 to ₹53 |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 93,98,000 shares (agg. up to ₹ 50 Cr) |
|---|---|
| Reserved for Market Maker | 4,78,000 shares (agg. up to ₹ 3 Cr) Sunflower Broking Pvt.Ltd. |
| Fresh Issue (Ex Market Maker) | 89,20,000 shares (agg. up to ₹ 47 Cr) |
| Net Offered to Public | 89,20,000 shares (agg. up to ₹ 47 Cr) |
| Share Holding Pre Issue | 2,59,46,000 shares |
| Share Holding Post Issue | 3,53,44,000 shares |
IPO Timetable (Tentative)
- IPO Open
- Fri, Sep 18, 2026
- IPO Close
- Tue, Sep 22, 2026
- Allotment
- Wed, Sep 23, 2026
- Refund
- Thu, Sep 24, 2026
- Credit of Shares
- Thu, Sep 24, 2026
- Listing
- Fri, Sep 25, 2026
Issue Reservation
| Investor Category | Shares | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB | 17,84,000 | 20.00% | 18.98% |
| - Anchor Investor | 10,70,400 | — | 11.39% |
| - QIB (Ex. Anchor) | 7,13,600 | — | 7.59% |
| NII (HNI) | 35,68,000 | 40.00% | 37.97% |
| - bNII > ₹10L | 23,78,666 | — | 25.31% |
| - sNII < ₹10L | 11,89,334 | — | 12.66% |
| Retail | 35,68,000 | 40.00% | 37.97% |
| Firm Reservations | |||
| Market Maker | 4,78,000 | — | 5.09% |
| Total | 93,98,000 | 100.00% | 100.00% |
Axiom Gas Engineering IPO comprises a total issue size of 93,98,000 shares. The net offer to the public is 89,20,000 shares, after excluding 4,78,000 shares allotted on a firm basis. Of the Net offer 17,84,000 (20.00%) are allocated to QIB , 35,68,000 (40.00%) allocated to NII 35,68,000 (40.00%) allocated to RII .
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 4000 | ₹2,12,000 |
| Individual investors (IND) (Max) | 2 | 4000 | ₹2,12,000 |
| S-HNI (Min) | 3 | 6000 | ₹3,18,000 |
| S-HNI (Max) | 9 | 18000 | ₹9,54,000 |
| B-HNI (Min) | 10 | 20000 | ₹10,60,000 |
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.
IPO Subscription Details
About Axiom Gas Engineering Ltd.
Incorporated in 2007, Axiom Gas Engineering Ltd. specialises in green energy engineering solutions. The company offers Auto LPG, CNG, and LNG solutions, catering to retail and industrial sectors with a commitment to quality, innovation, and environmental sustainability. The company operates 20+ Auto LPG Dispensing Stations (ALDS) under the name, "PRIMEFUEL" across multiple states in India including Telangana, Karnataka, and Maharashtra.
The company offers the following services:-
Gas and Pipe Engineering : Designs, implements, and maintains efficient gas systems for various industrial and commercial needs.
Turnkey Services: Provides turnkey services for LPG/CNG retail, bottling, and bulk installations from concept to completion.
Statutory Testing and Certification : Testing and Certification for hydrocarbon equipment, ensuring compliance with safety standards.
Technical Consultancy : Provide expert guidance on hydrocarbon equipment design and optimization.
Maintenance Operation and Training : Provides maintenance and training programs to enhance gas system longevity and performance.
Manufacturing Pressure Vessels Through Third-Party Collaboration.
Specializing in Industrial and Commercial LPG solutions.
Competitive Strength:
Expertise in Executing Projects in Challenging Geographical Locations.
Cost Optimization Strategies Without Compromising Safety Standards.
Innovation in Developing and Implementing Cost-Effective Technical Solutions.
Leveraging Global Engineering Resources to Deliver Superior Value.
Commitment to Delivering Sustainable Projects with Excellence in Health Safety and Environment.
Rapid Deployment Capabilities to Minimize Turnaround Times.
Cost-Effective Establishment of New Auto LPG Dispensing Stations (ALDS).
Company Financials (Restated Standalone)
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 69.38 | 60.83 | 52.37 |
| Total Income | 100.78 | 89.85 | 74.54 |
| Profit After Tax | 9.45 | 7.75 | 5.74 |
| EBITDA | 15.48 | 13.29 | 10.01 |
| NET Worth | 33.28 | 23.83 | 13.85 |
| Reserves and Surplus | 20.31 | 10.86 | 13.60 |
| Total Borrowing | 16.06 | 16.30 | 20.12 |
| Amount in ₹ Crore |
Axiom Gas Engineering Ltd.'s revenue increased by 12% and profit after tax (PAT) rose by 22% between the financial year ending with March 31, 2026 and March 31, 2025.
IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital Expenditures | 27.60 |
| 2 | Prepayment or repayment of a portion of certain outstanding borrowings availed by the Company | 9.12 |
| 3 | General Corporate Purposes | — |
| Total | 36.72 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 28.40% |
| ROCE | 28.90% |
| Debt/Equity | 0.48 |
| RoNW | 28.40% |
| PAT Margin | 9.38% |
| EBITDA Margin | 15.36% |
| NAV | 12.83 |
| Price to Book Value | 4.13 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 3.64 | 2.67 |
| P/E (x) | 14.56 | 19.85 |
| Market Cap at Offer Price | ₹137.51 Cr. | ₹187.32 Cr |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.
Shareholding Structure
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 98.28% | 72.15% |
| Public | 1.72% | 27.85% |
| Total | 100% | 100% |
Company Promoters: Alpeshkumar Naginbhai Patel, Kinnari Alpeshkumar Patel, Sadique Abdul Kadar Banani and Asma Mohamad Sadique Banani.
Axiom Gas Engineering IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Registrar
Kfin Technologies Ltd.
040-79615565
agel.ipo@kfintech.com
IPO Lead Manager(s)
SKI Capital Services Ltd.
Contact Details
Axiom Gas Engineering Ltd. Address
522 To 527, SWC Hub, 5th Floor Opp Rajpath Complex
Near Essar Petrol Pump
Bhaily
Vadodara, Gujarat , 391410
+914045065015
compliance@axiomgas.com
Axiom Gas Engineering IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
Axiom Gas Engineering IPO DRHP: files DRHP; IPO opens 18-Sep-2026; revenue hits ₹100.76 cr
scanx.trade · 10 Sept 2026
Axiom Gas Engineering Ltd IPO Date: Check Issue Date, Price, Lot size, Subscription, News and Details - Moneycontrol
Moneycontrol.com · 10 Sept 2026
Axiom Gas Engineering IPO 2026: Price and Review
Univest · 10 Sept 2026
Axiom Gas IPO Opens On 18 September: Know All About It Here
IPO Central · 9 Sept 2026
Axiom Gas Engineering Ltd. IPO
The Economic Times · 8 Sept 2026
