Axiom Gas Engineering

Axiom Gas Engineering SME IPO

Listed

NSE SMEOpens 18 September 2026Closes 22 September 2026

Incorporated in 2007, Axiom Gas Engineering Limited is an engineering solutions company specializing in green energy and fuel systems across Auto LPG, CNG, and LNG. Operating under the brand name 'PrimeFuel', the…

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Live GMPSubscriptionAllotment
Price band
₹50 - ₹53
Issue size
₹49.81 Cr
Lot size
2,000 shares
Type
NSE SME
GMP
₹0 (0.0%)
Est. listing
₹53
Est. profit / app
—
Retail quota
35.00%

Key ratios

As per RHP / filings
Face value
₹5
EPS
2.67
P/E ratio
20.22
RoNW
28.4%
ROE
28.4%
Debt / Equity
0.48
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Timeline

  1. IPO Opens

    18 Sept 2026

  2. IPO Closes

    22 Sept 2026

  3. Allotment

    23 Sept 2026

  4. Listing

    25 Sept 2026

IPO Timeline & Listing Details

EventDate
IPO Open Date18 September 2026
IPO Close Date22 September 2026
Allotment Date23 September 2026
Listing Date25 September 2026

Investment Categories

CategoryLotsAmount
Individual
2₹2,12,000
SHNI (Min)
3₹3,18,000
SHNI (Max)
9₹9,54,000
BHNIAbove ₹10,00,000
10₹10,60,000

IPO Reservation Details

CategoryReservation
QIB (Qualified Institutional Buyer)50.00%
NII (Non-Institutional Investor)15.00%
SHNI (Small Non-Institutional Investor)5.00%
BHNI (Big Non-Institutional Investor)10.00%
Retail35.00%
Total100.00%

IPO Objectives

  • Capital Expenditures towards Expansion of ALDS Network, Bottling Plants, Automation & Green Energy Initiatives (₹27.60 Cr / ₹2,760.00 Lakhs).
  • Prepayment or repayment of a portion of certain outstanding borrowings availed by the Company (₹9.12 Cr / ₹912.45 Lakhs).
  • General Corporate Purposes.

Strengths

  • Established operating presence under the 'PrimeFuel' brand with multi-state ALDS networks in Telangana, Maharashtra, and Karnataka.
  • Integrated service model offering design, installation, statutory testing, and maintenance of clean energy infrastructure.
  • Consistent financial expansion, with FY26 revenue reaching ₹100.78 Cr and PAT rising 22% to ₹9.45 Cr with a 28.40% RoNW.
  • Healthy balance sheet structure with a debt-to-equity ratio of 0.48x and robust cash flow from operations.

Weaknesses

  • Supplier concentration risk, procuring over 99% of LPG from its top three suppliers in FY26.
  • Geographic concentration, with operations primarily limited to Telangana (60.42%), Maharashtra (31.39%), and Karnataka (8.19%).
  • High dependence on related party logistics ('Prime Fuel Logistics Private Limited') for LPG transportation.
  • Vulnerability to global LPG pricing benchmarks and competing alternative fuels like CNG and electric vehicles (EVs).
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Financial Performance

Period Ended31 Mar 202631 Mar 202531 Mar 2024
Assets (₹ Cr.)69.3860.8352.37
Revenue (₹ Cr.)100.7889.8574.54
PAT (₹ Cr.)9.457.755.74
Net Worth (₹ Cr.)33.2823.8313.85

Peer Comparison

CompanyP/B RatioP/E RatioRONW (%)Net Worth (₹ Cr.)
Axiom Gas Engineering4.2120.2228.4%33.28
Confidence Petroleum India2.0520.86.55%1,448
Aegis Logistics7.8432.1614.83%8,784

Subscription Details

Daily Bids Status

CategoryDay 1Day 2Day 3
QIB0.8x0.8x1.1x
NII0.55x0.68x0.98x
S-HNI0.5x0.59x0.92x
B-HNI0.58x0.72x1.02x
RII0.64x1.04x1.86x
Total0.62x0.85x1.39x

Overall Subscription Statistics

CategoryShares OfferedShares BidBid Amount (₹ Cr)
QIB7,14,0007,82,0004.22
NII35,68,00035,08,00018.94
Small NII11,90,00010,90,0005.89
Big NII23,78,00024,18,00013.06
RII35,68,00066,24,00035.77
Total78,50,0001,09,14,00058.94
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Company Details

  • Axiom Gas Engineering Limited
  • #522 To 527, SWC Hub, 5th Floor, Opp. Rajpath Complex, Near Essar Petrol Pump, Bhaily, Vadodara, Gujarat - 391410, India
  • +91 40 4506 5015
  • compliance@axiomgas.com
  • https://www.axiomgas.com

Registrar Details

Frequently Asked Questions

What does Axiom Gas Engineering Limited do?
Axiom Gas Engineering Limited specializes in clean fuel engineering solutions, managing Auto LPG Dispensing Stations (ALDS) under the 'PrimeFuel' brand and delivering turnkey engineering, testing, and maintenance services for LPG/CNG infrastructure.
What are the opening and closing dates for the Axiom Gas Engineering SME IPO?
The IPO opens for subscription on September 18, 2026, and closes on September 22, 2026 (Anchor investor bidding took place on September 17, 2026).
What is the price band and minimum lot size for retail investors?
The price band is ₹51.00 to ₹54.00 per share[cite: 20, 21]. Retail investors must bid for a minimum of 2 lots (4,000 shares), amounting to ₹2,16,000 at the upper price band of ₹54[cite: 21].
What is the total issue size of the Axiom Gas Engineering IPO?
The issue size is ₹50.75 Crores, consisting entirely of a Fresh Issue of 93,98,000 equity shares of face value ₹5 each (including 4,78,000 shares reserved for Market Maker Sunflower Broking)[cite: 20, 21].
Where and when will Axiom Gas Engineering list?
The equity shares are scheduled to list on the NSE EMERGE platform tentatively on September 25, 2026.

Axiom Gas Engineering SME IPO News & Updates

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Axiom Gas Engineering SME IPO IPO Pages

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Axiom Gas Engineering SME IPO Details

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Axiom Gas Engineering SME IPO GMP

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Axiom Gas Engineering SME IPO Subscription

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Axiom Gas Engineering SME IPO Allotment

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Axiom Gas Engineering SME IPO Review

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Axiom Gas Engineering SME IPO FAQ

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Axiom Gas Engineering SME IPO Registrar

Registrar website and how to check allotment

Axiom Gas Engineering SME IPO Timeline

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Axiom Gas Engineering SME IPO News

Updates, blogs, and latest IPO news

Sources

We match Axiom Gas Engineering SME IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.

  • SEBIRules for IPO allotment and disclosures in India
  • NSEExchange notices, bidding data, and listing updates
  • BSEExchange notices and IPO allotment check tools
  • RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
  • KFin Technologies LimitedOfficial site to check allotment status for this IPO

Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.

Reviewed by

Dinesh Agrawal · Lead IPO Analyst

15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.

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