Axiom Gas Engineering IPO: Price Band, Lot Size, Financials & Review
Axiom Gas Engineering IPO listed on NSE on Fri, 25 Sep 2026. The issue was subscribed 1.45x overall.
- Open Date
- 18 Sep 2026
- Close Date
- 22 Sep 2026
Last updated
- Price band
- ₹50 – ₹53
- Lot size
- 2,000 shares
- Min. investment
- ₹2,12,000
- Issue size
- ₹49.81 Cr
- Last GMP
- 0
- Subscribed
- 🔥 1.45x
Axiom Gas Engineering IPO details
Axiom Gas Engineering IPO is a ₹49.81 Cr book-building IPO on the SME segment, listing on NSE. It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
The issue was open from Fri, 18 Sep 2026 to Tue, 22 Sep 2026. Allotment was finalised on Wed, 23 Sep 2026, and the shares listed on NSE on Fri, 25 Sep 2026.
The price band is ₹50 to ₹53 per share and the lot size is 2000 shares, so the minimum retail application is ₹2,12,000. Retail investors can apply for up to 2 lots (4,000 shares, ₹2,12,000).
KFin Technologies Limited is the registrar, and SKI Capital Services Limited is the book running lead manager.
Grey market premium (GMP)
Day-wise GMP →The last Axiom Gas Engineering IPO GMP before listing was 0 (0.00% against the upper price band of ₹53), implying an estimated listing price of ₹53. Across 10 days of tracking, GMP ranged from 0 (16 Sep) to 0 (16 Sep).
| Last GMP | 0 |
|---|---|
| GMP vs upper band | 0.00% |
| Estimated listing price | ₹53 |
| Highest (16 Sep) | 0 |
| Lowest (16 Sep) | 0 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the Axiom Gas Engineering IPO day-wise GMP.
Subscription
Day-wise subscription →Axiom Gas Engineering IPO was subscribed 1.45x overall: QIB 1.10x, NII 1.12x and retail 1.86x.
| Category | Subscribed |
|---|---|
| QIB | 1.10x |
| NII | 1.12x |
| └ bNII (above ₹10 lakh) | 1.22x |
| └ sNII (₹2–10 lakh) | 0.92x |
| Retail | 1.86x |
| Total | 1.45x |
Final figures at the close of bidding on 22 Sep 2026. Category-wise bids, application-wise breakup and allotment chances are on the Axiom Gas Engineering IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Anchor Investors | 10,70,400 | 11.39% |
| Market Maker | 4,78,000 | 5.09% |
| Qualified Institutions | 7,14,000 | 7.60% |
| Non-Institutional | 35,68,000 | 37.96% |
| └ BNII | 23,78,000 | 25.30% |
| └ SNII | 11,90,000 | 12.66% |
| Retail Investors | 35,68,000 | 37.96% |
| Total | 93,98,400 | 100.00% |
Shares offered include the anchor investor portion, which is allotted a day before the issue opens. Subscription figures exclude anchors, so category sizes on the subscription page are smaller.
Axiom Gas Engineering IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | ₹2,12,000 |
| Retail (Max) | 2 | 4,000 | ₹2,12,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,18,000 |
| S-HNI (Max) | 9 | 18,000 | ₹9,54,000 |
| B-HNI (Min) | 10 | 20,000 | ₹10,60,000 |
Amounts at the upper end of the price band.
Issue structure and valuation
It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
At the upper price band of ₹53, the issue is priced at 14.56x pre-issue earnings and 19.85x post-issue earnings per share.
The post-issue P/E is higher because the fresh issue adds new shares, which spreads the same profit over more shares.
Listed peers with positive earnings trade at a median P/E of 39.76x (2 companies).
Promoter holding falls from 98.28% before the issue to 72.15% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹3.64 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 14.56x |
| EPS (post-issue) EPS on the enlarged share capital | ₹2.67 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 19.85x |
| Promoter holding (pre-issue) | 98.28% |
| Promoter holding (post-issue) | 72.15% |
Axiom Gas Engineering Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹89.85 Cr to ₹100.78 Cr, and profit after tax rose from ₹7.75 Cr to ₹9.45 Cr. The PAT margin for 31 Mar 2026 was 9.38%.
| 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 |
| Reserve & Surplus | 20.31 | 10.86 | 13.60 |
| Total Borrowings | 16.06 | 16.30 | 20.12 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 28.40 | 32.52 | 41.45 |
| ROCE % | 28.90 | 30.50 | 27.01 |
| Debt / Equity | 0.48 | 0.68 | 1.45 |
| RoNW % | 28.40 | 32.52 | 41.45 |
| Pat Margin % | 9.38 | 8.63 | 7.70 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Axiom Gas Engineering Ltd | 5 | — | 3.64 | 3.64 | 28.40% | 12.83 |
| Confidence Petroleum India Ltd | 1 | 26.70 | 2.80 | 2.80 | 6.81% | 42.69 |
| Aegis Logistics Limited | 1 | 52.81 | 25.59 | 25.59 | 18.37% | 172.49 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Capital Expenditures |
| 2 | Repayment of Borrowings |
| 3 | General Corporate Expenses |
About Axiom Gas Engineering Limited
Incorporated in 2007, Axiom Gas Engineering Ltd. is engaged in providing engineering solutions for the green energy and hydrocarbon sectors. The Company offers solutions across Auto LPG, CNG and LNG, catering to retail, industrial and commercial customers, with a focus on quality, innovation, safety and environmental sustainability.
The Company operates more than 20 Auto LPG Dispensing Stations (ALDS) under the brand name “PRIMEFUEL” across multiple states in India, including Telangana, Karnataka and Maharashtra.
The Company's key services include:
Gas and Pipeline Engineering: Design, installation, implementation and maintenance of efficient gas and pipeline systems for industrial and commercial applications.
Turnkey Services: End-to-end turnkey solutions for LPG and CNG retail outlets, bottling facilities and bulk installations, covering activities from conceptualisation and design through installation and commissioning.
Statutory Testing and Certification: Testing, inspection and certification of hydrocarbon-related equipment to ensure compliance with applicable safety and regulatory standards.
Technical Consultancy: Providing technical expertise and consultancy for the design, selection, optimisation and efficient operation of hydrocarbon equipment and systems.
Maintenance, Operations and Training: Providing maintenance and operational support, along with training programmes aimed at improving system reliability, safety, longevity and performance.
Pressure Vessel Manufacturing: Manufacturing of pressure vessels through third-party manufacturing collaborations to cater to specific industrial and commercial requirements.
Industrial and Commercial LPG Solutions: Specialising in LPG solutions for industrial and commercial applications, including system design, installation, operation and maintenance.
Promoters
- Mr. Alpeshkumar Naginbhai Patel
- Mrs. Kinnari Alpeshkumar Patel
- Mr. Sadique Abdul Kadar Banani
- Mrs. Asma Mohamad Sadique Banani
Contact details
Axiom Gas Engineering Ltd.
522 To 527, SWC Hub, 5th Floor Opp Rajpath Complex
Near Essar Petrol Pump Bhaily
Vadodara, Gujarat, 391410
Phone: +914045065015
Email: compliance@axiomgas.com
Website: https://www.axiomgas.com/
Axiom Gas Engineering IPO FAQs
- What is the Axiom Gas Engineering IPO price band?
- The Axiom Gas Engineering IPO price band is ₹50 to ₹53 per share.
- What is the Axiom Gas Engineering IPO lot size and minimum investment?
- The Axiom Gas Engineering IPO lot size is 2000 shares. The minimum retail investment is ₹2,12,000 for one lot at the upper price band. Retail investors can apply for up to 2 lots (4,000 shares), costing ₹2,12,000.
- When was Axiom Gas Engineering IPO open for subscription?
- Axiom Gas Engineering IPO was open for subscription from Fri, 18 Sep 2026 to Tue, 22 Sep 2026.
- What is the Axiom Gas Engineering IPO subscription status?
- Axiom Gas Engineering IPO was subscribed 1.45x overall: QIB 1.10x, NII 1.12x and retail 1.86x. Day-wise and category-wise figures are on the subscription page.
- What was the Axiom Gas Engineering IPO GMP before listing?
- The last Axiom Gas Engineering IPO GMP before listing was 0 (0.00% against the upper price band of ₹53), implying an estimated listing price of ₹53. Across 10 days of tracking, GMP ranged from 0 (16 Sep) to 0 (16 Sep). GMP is an unofficial grey market indicator and can change quickly.
- What is the Axiom Gas Engineering IPO allotment date?
- The Axiom Gas Engineering IPO basis of allotment was finalised on Wed, 23 Sep 2026. You can check your allotment status on the KFin Technologies Limited website.
- What is the Axiom Gas Engineering IPO listing date?
- Axiom Gas Engineering IPO listed on NSE on Fri, 25 Sep 2026.
- Is the Axiom Gas Engineering IPO a fresh issue or an offer for sale?
- It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
- Who are the registrar and lead managers of the Axiom Gas Engineering IPO?
- The registrar for the Axiom Gas Engineering IPO is KFin Technologies Limited, and the book running lead manager is SKI Capital Services Limited.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.