Axiom Gas Engineering IPO
smelistedAbout the company
Axiom Gas Engineering, incorporated in 2007, distributes and retails Auto Liquefied Petroleum Gas (Auto LPG) through its network of Auto LPG Dispensing Stations (ALDS). The company procures LPG from suppliers and manages storage, transportation and distribution to its outlets before selling fuel to end consumers. Its customers include auto-rickshaws, taxis and small commercial vehicles used for passenger transport and last-mile goods movement, as well as personal mobility users. In FY26, LPG sales generated ₹100.76 crore, representing 100% of operating revenue. The LPG share of operating revenue increased from 94.8% in FY24 and 95.6% in FY25 as consultancy and signing income fell to nil in FY26. In FY25, consultancy contributed 2.5% and signed income 1.8% of operating revenue. The consultancy activity covers the design, development, testing and implementation of fuel, LPG, CNG and LNG dispensers. The ALDS network expanded from 17 stations at FY24-end to 20 in FY25 and 22 in FY26. Operations span Telangana, Maharashtra and Karnataka, which contributed 60.4%, 31.3% and 8.1%, respectively, to FY26 operating revenue. LB Nagar was the largest individual outlet by revenue at 12.1%, followed by Tadband at 10.7% and Mill Corner at 10.6%. For FY26, the ALDS network had a licensed storage capacity of 409,920 litres, compared with 314,920 litres in FY24. The utilised storage capacity was 348,432 litres in FY26, equivalent to 85% of licensed capacity. Third-party operators manage day-to-day station operations under the PRIMEFUEL and PRIMEGAS brands, while Axiom funds station infrastructure and stock and handles site selection, engineering, procurement assurance and compliance.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 17 Sep | ₹0 | ₹54 | 0 |
| 15 Sep | ₹0 | ₹54 | 0 |
| 14 Sep | ₹0 | ₹54 | 0 |
| 13 Sep | ₹0 | ₹54 | 0 |
| 12 Sep | ₹0 | ₹54 | 0 |
| 11 Sep | ₹0 | ₹54 | 0 |
| 10 Sep | ₹0 | ₹54 | 0 |
| 09 Sep | ₹0 | ₹54 | 0 |
Strengths
- Strong demand outlook for gas engineering and related infrastructure
- Exposure to India’s expanding gas and energy infrastructure
- Established capabilities and industry experience
- Potential to benefit from rising investment in energy projects
- IPO proceeds may support business expansion and capacity growth
Risks
- Business performance may depend heavily on project execution
- Exposure to fluctuations in raw material and operating costs
- Competition in the engineering and infrastructure sector
- Dependence on timely project awards and order inflows
- Economic or policy changes could affect infrastructure spending
Financial performance (₹ Cr)
Subscription breakup (final, times)
IPO Roadmap / Timeline
IPO Opens
Completed18 Sept 2026Bidding starts for all investor categories
IPO Closes
Completed22 Sept 2026Last day to place your bid
Basis of Allotment
Completed23 Sept 2026Share allotment finalised
Refund Initiation
Completed24 Sept 2026Refunds credited for non-allottees
Credit to Demat
Completed24 Sept 2026Allotted shares credited to demat account
Listing on Exchange
Completed25 Sept 2026Shares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 2000 | ₹108,000 | 1 | ₹108,000 | 1 lot only |
| HNI | 2 | 4000 | ₹216,000 | 2 | ₹216,000 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 4,857,143 | 25.5 | 3,885,714 | 0.80x | 100% |
| NII | 15% | 1,457,143 | 7.65 | 2,404,286 | 1.65x | 60.6% |
| Retail | 35% | 3,400,000 | 17.85 | 2,176,000 | 0.64x | 100% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).
