SME
    listed

    Axiom Gas Engineering IPO

    Updated 26 Oct 2026, 6:50 pm.

    Open Demat Account
    GMP disclaimer: GMP is unofficial and unregulated. It is not a recommendation or a reliable estimate of listing price or returns. Consider the RHP and your own risk assessment before applying.

    Minimum investment (Individual investors (IND))

    ₹2,16,000

    2 lots · 4,000 shares at the upper price band

    Price band

    ₹54

    Latest GMP

    ₹0

    0.0% of the ₹54 upper band

    Est. listing price

    ₹53

    Issue size

    ₹48.17 Cr

    Listing price

    ₹54.75

    NSE AXIOMGAS, special pre-open price

    Listing gain

    +1.4%

    Listing price against the issue price

    First-day close

    ₹54.05

    Since issue

    -36.7%

    ₹34.2 close, 26 Oct 2026

    As NSE lists it

    The exchange's own issue data, NSE symbol AXIOMGAS · read 27 Oct 2026, 12:15 am

    Price band
    ₹51–54
    Bidding
    18 Sept 2026 – 22 Sept 2026
    Subscribed (NSE)
    —
    Shares offered
    —
    Listed
    25 Sept 2026
    Issue price
    ₹54

    NSE's subscription counts bids on its own platform and can differ from the combined NSE + BSE figure above.

    Allotment status

    Check it on the registrar's page or either exchange with your PAN or application number.

    1. Allotment finalised23 Sept 2026(done)
    2. Refunds start24 Sept 2026(done)
    3. Shares credited to demat24 Sept 2026(done)
    4. Listing25 Sept 2026(done)
    Check on Kfin Technologies Ltd.Check on BSECheck on NSE

    GMP history

    Each point is a recorded observation from the scheduled data sync.

    ObservedGMPEst. listing price
    26 Sept 2026, 8:50 am₹0₹53
    26 Sept 2026, 8:45 am₹0₹53
    25 Sept 2026, 6:50 pm₹0₹53
    25 Sept 2026, 6:45 pm₹0₹53
    25 Sept 2026, 1:45 pm₹0₹53
    25 Sept 2026, 8:50 am₹0₹53
    25 Sept 2026, 8:45 am₹0₹53
    24 Sept 2026, 6:50 pm₹0₹53
    24 Sept 2026, 6:45 pm₹0₹53
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    24 Sept 2026, 8:45 am₹0₹53
    23 Sept 2026, 6:50 pm₹0₹53
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    18 Sept 2026, 1:45 pm₹0₹53
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    17 Sept 2026, 6:45 pm₹0₹53
    17 Sept 2026, 1:45 pm₹0₹53
    17 Sept 2026, 8:45 am₹0₹0
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    14 Sept 2026, 2:25 pm₹0₹0
    12 Sept 2026, 9:50 pm₹0₹0
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    10 Sept 2026, 11:39 am₹0₹0
    9 Sept 2026, 10:39 pm₹0₹0

    GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.

    Issue details

    Board
    SME
    Price band
    ₹54
    Issue size
    ₹48.17 Cr
    Lot size
    2,000
    Opens
    18 Sept 2026
    Closes
    22 Sept 2026
    Allotment
    23 Sept 2026
    Listing
    25 Sept 2026
    Est. listing price
    ₹53
    Listing price
    ₹55
    Listing gain
    +1.4%
    Registrar
    Kfin Technologies Ltd.
    Minimum investment
    ₹2,16,000 (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

    Red Herring Prospectus (RHP)Check allotment statusCompany website

    Subscription by category

    As of 22 Sept 2026, 6:55 pm.

    Total subscription

    1.39x

    Qualified Institutional1.10×
    Non Institutional0.98×
    Retail Individual1.86×

    Full issue details

    Details as published for this issue, read 24 Sept 2026, 2:05 pm. Verify against the RHP before applying.

    IPO Details

    IPO Date18 to 22 Sep, 2026
    Listing DateFri, Sep 25, 2026 (tentative)
    Face Value₹ 5 per share
    Price Band₹51 to ₹54
    Lot Size2,000 Shares
    Sale TypeFresh capital only
    Issue TypeBookbuilding IPO
    Listing AtNSE SME
    Total Issue Size93,98,000 shares (agg. up to ₹ 51 Cr)
    Reserved for Market Maker4,78,000 shares (agg. up to ₹ 3 Cr) Sunflower Broking Pvt.Ltd.
    Fresh Issue (Ex Market Maker)89,20,000 shares (agg. up to ₹ 48 Cr)
    Net Offered to Public89,20,000 shares (agg. up to ₹ 48 Cr)
    Share Holding Pre Issue2,59,46,000 shares
    Share Holding Post Issue3,53,44,000 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

    • QIB18.99%
    • NII (HNI)37.96%
    • Retail37.96%
    • Market Maker5.09%
    Issue Reservation: Share of the issue reserved for each investor category. Figures as published in the table below.
    Investor CategoryShares% of Net Issue% of Total Issue
    QIB17,84,40020.00%18.99%
    - Anchor Investor10,70,400—11.39%
    - QIB (Ex. Anchor)7,14,000—7.60%
    NII (HNI)35,68,00040.00%37.96%
    - bNII > ₹10L23,78,000—25.30%
    - sNII < ₹10L11,90,000—12.66%
    Retail35,68,00040.00%37.96%
    Firm Reservations
    Market Maker4,78,000—5.09%
    Total93,98,400100.00%100.00%

    Axiom Gas Engineering IPO comprises a total issue size of 93,98,400 shares. The net offer to the public is 89,20,400 shares, after excluding 4,78,000 shares allotted on a firm basis. Of the Net offer 17,84,400 (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

    Individual investors (IND) (Min)₹2,16,000
    Individual investors (IND) (Max)₹2,16,000
    S-HNI (Min)₹3,24,000
    S-HNI (Max)₹9,72,000
    B-HNI (Min)₹10,80,000
    IPO Lot Size: What an application costs at the upper price band, by category. Figures as published in the table below.
    ApplicationLotsSharesAmount
    Individual investors (IND) (Min)24,000₹2,16,000
    Individual investors (IND) (Max)24,000₹2,16,000
    S-HNI (Min)36,000₹3,24,000
    S-HNI (Max)918,000₹9,72,000
    B-HNI (Min)1020,000₹10,80,000

    Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.

    IPO Anchor Investors

    Bid DateThu, Sep 17, 2026
    Shares Offered10,70,400
    Anchor Portion (₹ Cr.)5.78
    Anchor lock-in period end date for 50% shares (30 Days)Fri, Oct 23, 2026
    Anchor lock-in period end date for remaining shares (90 Days)Tue, Dec 22, 2026

    Axiom Gas Engineering IPO raises ₹ 5.78 crore from anchor investors . Axiom Gas Engineering IPO Anchor bid date is September 17, 2026 .

    📝 Anchor Investors Letter (PDF)

    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)

    Total Income

    31 Mar 202474.54
    31 Mar 202589.85
    31 Mar 2026100.78

    Profit After Tax

    31 Mar 20245.74
    31 Mar 20257.75
    31 Mar 20269.45

    EBITDA

    31 Mar 202410.01
    31 Mar 202513.29
    31 Mar 202615.48

    NET Worth

    31 Mar 202413.85
    31 Mar 202523.83
    31 Mar 202633.28
    Company Financials (Restated Standalone): Each line is scaled to its own largest period, ₹ crore - compare periods within a line, not one line against another. Figures as published in the table below.
    Period Ended31 Mar 202631 Mar 202531 Mar 2024
    Assets69.3860.8352.37
    Total Income100.7889.8574.54
    Profit After Tax9.457.755.74
    EBITDA15.4813.2910.01
    NET Worth33.2823.8313.85
    Reserves and Surplus20.3110.8613.60
    Total Borrowing16.0616.3020.12
    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

    Capital Expenditures27.60
    Prepayment or repayment of a portion of certain outstanding borrowings availed by the Company9.12
    IPO Objects of the Issue: What the proceeds are earmarked for (₹ Cr.). Figures as published in the table below.
    #Issue ObjectsEst Amt (₹ Cr.)
    1Capital Expenditures27.60
    2Prepayment or repayment of a portion of certain outstanding borrowings availed by the Company9.12
    3General Corporate Purposes—
    Total36.72

    The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

    Key Performance Indicator (KPI)

    KPIMar 31, 2025
    ROE28.40%
    ROCE28.90%
    Debt/Equity0.48
    RoNW28.40%
    PAT Margin9.38%
    EBITDA Margin15.36%
    NAV12.83
    Price to Book Value4.21

    Check IPO Peer Comparison here.

    IPO Valuation

    Valuation MetricPre IPOPost IPO
    EPS (₹)3.642.67
    P/E (x)14.8420.22
    Market Cap at Offer Price₹140.11 Cr.₹190.86 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

    Pre IPO

    • Promoter and Promoter Group98.28%
    • Public1.72%

    Post IPO

    • Promoter and Promoter Group72.15%
    • Public27.85%
    Shareholding Structure: Who holds the company before and after the issue. Figures as published in the table below.
    CategoryPre IPOPost IPO
    Promoter and Promoter Group98.28%72.15%
    Public1.72%27.85%
    Total100%100%

    Company Promoters: Alpeshkumar Naginbhai Patel, Kinnari Alpeshkumar Patel, Sadique Abdul Kadar Banani and Asma Mohamad Sadique Banani.

    Axiom Gas Engineering IPO Recommendations

    Review BySubscribeMay ApplyNeutralAvoid
    Brokers1000
    Members0000

    IPO Subscription Status

    CategorySubscription (x)Shares OfferedShares bid forTotal Applications
    QIB (Ex Anchor)1.107,14,0007,82,0005
    NII *0.9835,68,00035,08,0000
    bNII (> ₹10L)1.0223,78,00024,18,000—
    sNII (< ₹10L)0.9211,90,00010,90,000—
    Individual Investor1.8635,68,00066,24,0001,656
    Total1.3978,50,0001,09,14,0001,799

    The Axiom Gas Engineering IPO is subscribed 1.39 times on September 22, 2026 6:55:00 PM (Day 3). The public issue subscribed 1.86 times in the individual investors category, 1.10 times in the QIB category, and 0.98 times in the NII category. Check Day by Day Subscription Details (Live Status)

    Reload

    Total Applications: 1,799

    *Market Maker portion is not included to NII/HNI.

    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 Date: Check Issue Date, Price, Lot size, Subscription, News and Details - Moneycontrol

    Moneycontrol.com · 24 Sept 2026

    Axiom Gas Engineering Limited has completed an IPO in the amount of INR 546.048 million.

    marketscreener.com · 23 Sept 2026

    Axiom Gas Engineering IPO Allotment Status: Check Allocation

    HDFC Sky · 23 Sept 2026

    Axiom Gas Engineering IPO Subscription Status Day 3: Issue Subscribed 1.39 Times

    HDFC Sky · 22 Sept 2026

    Axiom Gas Engineering IPO Day 3 Subscription Status 22 Sep 2026

    Univest · 22 Sept 2026

    Axiom Gas Engineering IPO Allotment Status: 0.58x Subscribed, Check Online

    Univest · 22 Sept 2026

    Axiom Gas Engineering IPO Day 3: Subscribed 1.08x; retail leads demand

    scanx.trade · 22 Sept 2026

    Axiom Gas Engineering IPO Day 2 Subscription Status: 0.85x

    HDFC Sky · 21 Sept 2026

    FAQ

    Axiom Gas Engineering: common questions

    Answered from this issue's own record.

    The Axiom Gas Engineering SME IPO is priced at ₹54 per share, for an issue size of ₹48.17 crore.

    The issue opens on 18 Sept 2026 and closes on 22 Sept 2026, with listing expected on 25 Sept 2026.

    One lot is 2000 shares, and applications must be in multiples of a lot. At the upper band that is ₹1,08,000 for one lot.

    Latest recorded subscription: QIB 1.1x, NII 0.98x, retail 1.86x (as of 26 Oct 2026).

    Axiom Gas Engineering listed at ₹55 on 25 Sept 2026. That was a gain of 1.39% against the issue price.