1,067 Views| 06 Nov 2026
Axiom Gas Engineering IPO Details
Issue Date
18 Sep - 22 Sep'26
Price Band
₹50 - ₹53
Lot Size
2000 Shares
IPO Size
₹50 Cr
Listing At
NSE
Overall Subscription
1.34x
Axiom Gas Engineering IPO Listing Details
Listing On
25 Sep'26
Issue Price
₹53
Listed Price
₹ 54.75
Retail Gain/Listing Gain
1.39%Increase
Schedule of Axiom Gas Engineering IPO
IPO Open Date
18/09/2026
IPO Close Date
22/09/2026
Basis of Allotment
23/09/2026
Refund Initiation
24/09/2026
Credit of Shares
24/09/2026
Listing on exchange
25/09/2026
Axiom Gas Engineering IPO Subscription Status Live
(Last updated on 22 Sep 2026 03:45 PM)
Day | Total | QIB | Retail | NII |
|---|---|---|---|---|
Day 1 18-Sep-2026 | 0.58x | 0.8x | 0.65x | 0.49x |
Day 2 21-Sep-2026 | 0.86x | 0.8x | 1.04x | 0.72x |
Day 3 22-Sep-2026 | 1.31x | 1.06x | 1.75x | 0.96x |
About Axiom Gas Engineering IPO
The public issue of the Axiom Gas Engineering IPO, an SME IPO, opens on Friday, September 18, 2026 and closes on Tuesday, September 22, 2026. The allotment of shares will take place on Wednesday, September 23, 2026. The credit of shares to the demat account will take place on Thursday, September 24, 2026. The initiation of refunds will take place on Thursday, September 24, 2026. The listing of shares will take place on Friday, September 25, 2026.
The equity shares offered through the IPO are proposed to be listed on the NSE SME platform.
The offer consists of a fresh issue component. The fresh issue will include 0.94 crore shares of ₹49.81 crore. The total number of shares and aggregate amount are 93,98,000 shares aggregating up to ₹50 crore.
Axiom Gas Engineering IPO’s price band is set at ₹50 to ₹53 per share. The lot size for an application is 2,000 shares. The minimum amount of investment required by a retail individual investor is ₹2,12,000 (4,000 shares) based on the upper price. The minimum lot size for investment in HNI is 3 lots (6,000 shares), amounting to ₹3,18,000.
The company is engaged in the business of distribution and retailing of Auto Liquefied Petroleum Gas. The operations are carried out through a network of Auto LPG Dispensing Stations owned and operated by the company.
Objectives of Axiom Gas Engineering IPO
- Capital expenditure.
- Prepayment or repayment of a portion of certain outstanding borrowings availed by the company.
- General corporate purposes.
Axiom Gas Engineering IPO Valuation
Detail | Information |
|---|---|
Upper Price Band | ₹53 |
Reserved for Market Maker | 4,78,000 shares (aggregating up to ₹3 crore) |
Fresh Issue (Ex Market Maker) | 89,20,000 shares (aggregating up to ₹47 crore) |
Net Offered to Public | 89,20,000 shares (aggregating up to ₹47 crore) |
Offer for Sale | —- |
EPS Diluted (in ₹) for FY26 | 3.64 |
Share Offer and Subscription Details
Investor Category | Shares Offered |
|---|---|
Non-institutional Investors (NIIs) | 40% of the net offer |
Retail-individual Investors (RIIs) | 40% of the net offer |
IPO Lot Size
Application | Lots | Shares | Amount |
|---|---|---|---|
Individual investors (Retail) (Min) | 2 | 4,000 | ₹2,12,000 |
Individual investors (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 |
Industry Outlook
The oil and gas sector is among the eight core industries in India and plays a major role in influencing the decision-making for all the other important sections of the economy. India’s economic growth is closely related to its energy demand, therefore, the need for oil and gas is projected to increase, thereby making the sector quite conducive for investment
About Axiom Gas Engineering
Axiom Gas Engineering is engaged in the business of distribution and retailing of Auto Liquefied Petroleum Gas. The operations are carried out through a network of Auto LPG Dispensing Stations owned and operated by the company. In addition to retail outlets, the company has developed storage and allied infrastructure facilities to support the distribution and supply of Auto LPG. The company’s network is presently spread across the states of Telangana, Karnataka, and Maharashtra. The retail operations are structured to cater to the requirements of the transport sector, with Auto LPG being marketed as an alternative automotive fuel. The company’s infrastructure includes storage, handling, and dispensing facilities designed to meet regulatory standards applicable to Auto LPG distribution.
Strengths of Axiom Gas Engineering
- Owned and operated Auto LPG Dispensing Stations network with associated storage infrastructure.
- Presence across three states enables geographic diversification of demand and supply.
- Integrated activities from procurement to retail sale provide operational control over key value-chain steps.
- Established compliance processes for Auto LPG handling, storage, and dispensing under applicable regulations (including PESO permissions and Petroleum Rules), reducing operational interruptions.
Risks of Axiom Gas Engineering
- They are dependent on few suppliers for sourcing their liquified petroleum gas.
- Their transportation of LPG is majorly done by their related party i.e. Prime Fuel Logistics Private Limited - their group company.
- LPG is highly flammable and poses significant safety risks if mishandled.
- The sale of their products & services is concentrated in their core market of Karnataka, Telangana and Maharashtra.
- There have been instances in the past where they have not made certain regulatory filings with the ROC and there were certain instances of discrepancies in relation to certain statutory filings and corporate records of the company.
Axiom Gas Engineering Financials
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Year | Year Data |
|---|---|
FY 24 | 74.54 |
FY 25 | 89.84 |
FY 26 | 100.76 |
Peer Comparison
Company Name | Revenue from Operations (Cr) | P/E Ratio | EPS (Diluted) (₹) | NAV per share (₹) |
|---|---|---|---|---|
Axiom Gas Engineering | 100.76 | - | 3.64 | 12.83 |
Confidence Petroleum India Limited | 4704.57 | 26.70 | 2.80 | 42.69 |
Aegis Logistics Limited | 8333.20 | 52.81 | 25.59 | 172.49 |
*Financial information for the year ended March 31, 2026 Source: All the financial information for listed industry peers mentioned above is on a Consolidated basis as available sourced from the financial Reports of the peer company uploaded on the NSE website for the year ended March 31, 2026. The data for Axiom Gas Engineering Limited is on a Standalone basis.
Notes: 1. P/E Ratio has been computed based on the closing market price of equity shares on the NSE website on July 22,2026 divided by the Diluted EPS.
2. RONW is computed as net profit after tax divided by the net worth. Net worth has been computed as the sum of share capital and reserves and surplus.
3. NAV is computed as net worth divided by the outstanding weighted number of equity shares during the period.
Listed peers are as identified by the management and relied upon by them, based on the following reasoning:
a. Similar to the company, Confidence Petroleum Limited engages in the manufacturing and supply of LPG cylinders and auto LPG distribution via its network of bottling plants and auto LPG dispensing stations across India.
b. Similar to the company, Aegis Logistics Limited specializes in green energy engineering solutions like Auto LPG, CNG, and LNG, operating and installing Auto LPG dispensing stations, and providing engineering, procurement, construction, and project management services in the LPG and clean energy segment.
Anchor Investor Bidding Date
Thursday, September 17, 2026
IPO Registrar and Book Running Lead Managers
Registrar Details
Kfin Technologies Ltd.
Email: agel.ipo@kfintech.com
Tel.: 040-79615565
Book Running Lead Manager
SKI Capital Services Ltd.
Axiom Gas Engineering Contact Details
522 To 527, SWC Hub, 5th Floor Opp Rajpath Complex, Near Essar Petrol Pump,
Bhaily Vadodara, Gujarat, 391410
Email: compliance@axiomgas.com
Phone: +914045065015
Axiom Gas Engineering Business Model
The company earns its revenue through the sale of Auto LPG to end consumers through its ALDS network. The company procures Auto LPG from suppliers and undertakes storage, transportation, and distribution to its dispensing stations. The revenues are primarily derived from the retail sale of Auto LPG at its outlets.
Axiom Gas Engineering Growth Trajectory
Axiom Gas Engineering’s Total Income for FY26 was ₹100.78 crore, whereas in FY25 and FY24 it was ₹89.85 crore and ₹74.54 crore, respectively.
The Profit After Tax for FY26 was ₹9.45 crore, whereas in FY25 and FY24 it was ₹7.75 crore and ₹5.74 crore, respectively.
Their EBITDA for FY26 was ₹15.48 crore, whereas in FY25 and FY24 it was ₹13.29 crore and ₹10.01 crore, respectively.
Axiom Gas Engineering Market Position
As of 31 March 2026, the company’s Total Income, Profit After Tax, and EBITDA were ₹100.78 crore, ₹9.45 crore, and ₹15.48 crore, respectively.
Axiom Gas Engineering Profit and Loss Statement (in ₹ crore)
Parameter | FY 26 | FY 25 | FY 24 |
|---|---|---|---|
Total Income | 100.78 | 89.85 | 74.54 |
Profit Before Tax | 12.65 | 10.35 | 7.69 |
Profit After Tax | 9.45 | 7.75 | 5.74 |
EPS (Diluted) ₹ | 3.64 | 2.99 | 2.25 |
EBITDA | 15.48 | 13.29 | 10.01 |
Axiom Gas Engineering Balance Sheet (in ₹ crore)
Parameter | FY 26 | FY 25 | FY 24 |
|---|---|---|---|
Profit Before Tax | 12.65 | 10.35 | 7.69 |
Net Cash from Operating Activities | 10.79 | 8.17 | 4.70 |
Net Cash from Investing Activities | (5.39) | (5.18) | (12.76) |
Net Cash from Financing Activities | (1.85) | (3.47) | 10.23 |
Cash & Cash Equivalents | 5.89 | 2.33 | 2.82 |
Note: () denotes negative
How to apply for Axiom Gas Engineering IPO?
- Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
- Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
- Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
- Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
- Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.
Axiom Gas Engineering IPO FAQs
The Axiom Gas Engineering IPO opens for subscription from 18-09-2026 to 22-09-2026, with a total issue size of ₹50 Cr. The IPO price band is ₹50 to ₹53 per share with a lot size of 4000. The company aims to list the shares on BSE & NSE on 25-09-2026.
The Axiom Gas Engineering IPO will open for subscription on 18-09-2026 and will close on 22-09-2026 for investors.
The lot size of Axiom Gas Engineering IPO is 4000 equity shares, requiring a minimum investment of ₹106000/2 Lots for retail investors applying in the IPO.
The price band of the Axiom Gas Engineering IPO has been fixed at ₹50 to ₹53 per equity share.
You can apply for the Axiom Gas Engineering IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.
Axiom Gas Engineering IPO allotment will take place on 23-09-2026.
You can check the Axiom Gas Engineering IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.
Axiom Gas Engineering shares will list on the stock exchanges on 25-09-2026.
You can find detailed information about the Axiom Gas Engineering IPO, including its business operations, financial performance, risk factors, and IPO objectives, in the Draft or Red Herring Prospectus (RHP).
Mr. Nikhil Tiwari is the Managing Director of Axiom Gas Engineering.
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This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their own research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed SEBI prescribed limit. The securities are quoted as an example and not as a recommendation. SEBI Registration No-INZ000200137 Member Id NSE-08081; BSE-673; MSE-1024, MCX-56285, NCDEX-1262.
