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Axiom Gas Engineering IPO
Price Band
₹51.0–54.0
Issue Size
₹50.75 Cr
Lot Size
2,000 shares
Min Investment
₹216,000
2 LOTS MIN
GMP
—
Issue Price
₹54.0
Axiom Gas Engineering IPO AI Summary
- Axiom Gas Engineering IPO is listed on NSE SME in the LPG/CNG/PNG/LNG Supplier sector.
- Price band: ₹51.0–₹54.0 per share, lot size 2,000 shares (min. investment ₹216,000, 2 lots minimum).
- Subscription window: 18 Sep–22 Sep 2026, listing on 25 Sep 2026.
Axiom Gas Engineering Limited is an emerging player in the green energy sector, focusing on LPG, CNG, and LNG solutions. The company has shown strong financial growth and aims to utilize the IPO proceeds for capital expenditures and debt repayment. Investors should consider their risk appetite and market conditions before participating in the IPO.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Overall Subscription
1.39x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
1.10x
|
1.10x |
| NII (HNI) |
0.98x
|
0.98x |
| ↳ bNII (>₹10L) |
1.02x
|
1.02x |
| ↳ sNII (<₹10L) |
0.92x
|
0.92x |
| Retail (RII) |
1.86x
|
1.86x |
| Total | 1.39x | 1.39x |
Auto-updated every 5 min · As of 22nd Sep 2026 18:57
Axiom Gas Engineering IPO Grey Market Premium (GMP) Today
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About the Company
Established in 2007, Axiom Gas Engineering Limited 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. As of June 30, 2024, the company operated 18 Auto LPG Dispensing Stations in Telangana, Maharashtra, and Karnataka. Operating under the brand name "PrimeFuel," AGEL manages Auto LPG Dispensing Stations across multiple states in India. The company has demonstrated strong financial growth, with increasing revenues and profits. 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. As of December 2024, the company has 21 permanent employees. 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 (₹ Cr)
As of 2026-03-31
| 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 |
Key Ratios
EPS
₹3.64
NAV
₹12.83
ROE
28.40%
ROCE
28.90%
RoNW
28.40%
P/B Value
4.21
P/E Ratio
14.84
Market Cap
₹190.86 Cr
PAT Margin
9.38%
Debt/Equity
0.48
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Aegis Logistics Limited | 172.49 | 18.37% | 52.81 | 25.59 | 25.59 |
| Confidence Petroleum India Limited | 42.69 | 6.81% | 26.7 | 2.8 | 2.8 |
| Axiom Gas Engineering Ltd This IPO | 12.83 | 28.4% | — | 3.64 | 3.64 |
Promoters
Alpeshkumar Naginbhai Patel, Kinnari Alpeshkumar Patel, Sadique Abdul Kadar Banani, Asma Mohamad Sadique Banani
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # 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
IPO Evaluation
Generated 27 Sep 2026Revenue Trend
Revenue was ₹74.54 Cr in the year ending 31 Mar 2024, rising to ₹89.85 Cr by 31 Mar 2025, and further increasing to ₹100.78 Cr by 31 Mar 2026. This shows a consistent upward trend in total income over the three periods.
Profit Trend
Profit After Tax was ₹5.74 Cr for the year ending 31 Mar 2024, increasing to ₹7.75 Cr by 31 Mar 2025, and further rising to ₹9.45 Cr by 31 Mar 2026. This indicates a positive growth in profitability across the periods.
Valuation
At the issue price of ₹54.0, Axiom Gas Engineering's implied P/E ratio is approximately 14.84, compared to peers trading at P/E ratios ranging from 26.7 to 52.81.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of shares before they are listed on the stock exchange. Grey market premium (GMP) indicates the expected listing price of an IPO based on demand and supply dynamics in this unofficial market. A higher GMP suggests strong demand for the shares, while a lower or negative GMP indicates weaker demand.
Subscription Demand
As of 22nd Sep 2026, the IPO was subscribed 1.39 times overall. The retail category saw a subscription of 1.86 times, while the QIB (Institutional) category was subscribed 1.1 times. The NII (HNI) category was slightly below 1 at 0.98 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their risk tolerance and investment goals. It's important to consider the company's fundamentals and market conditions before making a decision.
Who May Want to Wait
Investors who prefer stable, established companies with predictable earnings may want to avoid IPOs like this, which can be more volatile and carry higher risk.
IPO Timeline, Explained
The IPO opens for subscription on 18th September 2026 and closes on 22nd September 2026. Allotment of shares will take place on 23rd September 2026, with the listing date set for 25th September 2026.
Listing Gains — The Risk
Listing-day gains can be unpredictable. Factors such as market sentiment, demand for the IPO, and broader economic conditions can influence the stock price on the day of listing. Investors should be aware that while some IPOs may see significant gains, others may not perform as expected.
This evaluation is generated from Axiom Gas Engineering's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Axiom Gas Engineering IPO?
The price band of Axiom Gas Engineering IPO is ₹51.0–₹54.0 per share.
When does Axiom Gas Engineering IPO open and close?
Axiom Gas Engineering IPO opens on 18 September 2026 and closes on 22 September 2026.
When does Axiom Gas Engineering IPO list on the stock exchange?
Axiom Gas Engineering IPO listed on 25 September 2026 at ₹54.0.
What is the lot size for Axiom Gas Engineering IPO?
The lot size for Axiom Gas Engineering IPO is 2000 shares, requiring a minimum investment of ₹216,000 (2 lots).
What is the lot size for this IPO?
The lot size for Axiom Gas Engineering's IPO is 2000 shares.
What is the minimum investment required?
The minimum investment required is ₹216,000.
What is the price band for the IPO?
The price band for the IPO is ₹51.0 to ₹54.0.
When is the listing date for this IPO?
The listing date for the IPO is 25th September 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
18 Sep 2026
Close
22 Sep 2026
Allotment
23 Sep 2026
Listing
25 Sep 2026
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