Axiom Gas Engineering IPO
Market Sentiment
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 4 | Final |
|---|---|---|---|
| QIB | 0.80x | 0.80x | 1.10x |
| NII | 0.55x | 0.81x | 1.12x |
| bNII > ₹10L | 0.58x | 0.92x | 1.22x |
| sNII 2-10L | 0.50x | 0.58x | 0.92x |
| Retail | 0.64x | 1.03x | 1.86x |
| Total | 0.58x | 0.86x | 1.45x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 74.54 | 89.85 | 100.78 |
| Expense | 66.85 | 79.49 | 88.13 |
| Profit (PAT) | 5.74 | 7.75 | 9.45 |
| Total Assets | 52.37 | 60.83 | 69.38 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Axiom Gas Engineering This IPO | 2.67 | 20.22 | 28.40 | 12.83 | - |
| Confidence Petroleum India Limited | 2.80 | 26.70 | 6.81 | 42.69 | 4,704.57 Cr |
| Aegis Logistics Limited | 25.59 | 52.81 | 18.37 | 172.49 | 8,333.21 Cr |
Promoters & Holding Pattern
Promoters: Alpeshkumar Naginbhai Patel, Kinnari Alpeshkumar Patel, Sadique Abdul Kadar Banani, Asma Mohamad Sadique Banani
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 2,55,00,000 | 98.28% |
| Promoter Holding Post Issue | 2,55,00,000 | 72.15% |
Strengths & Risks
- Solid profit margin — 9.4%.
- Strong return on equity — 28%.
- Backed by anchor investors — Rs 6 crore committed pre-issue.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Axiom Gas Engineering
Incorporated in 2007, Axiom Gas Engineering Ltd. 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. The company operates 20+ Auto LPG Dispensing Stations (ALDS) under the name, "PRIMEFUEL" across multiple states in India including Telangana, Karnataka, and Maharashtra. 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. 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 Contact Information
522 To 527, SWC Hub, 5th Floor Opp Rajpath Complex Near Essar Petrol Pump Bhaily Vadodara Gujarat
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Capital Expenditures | 27.60 |
| Prepayment or repayment of a portion of certain outstanding borrowings availed by the Company | 9.12 |
| General Corporate Purposes | - |
Resources & Documents
Anchor Investors
Axiom Gas Engineering IPO - Quick Take
Axiom Gas Engineering has set a price band of Rs 50–Rs 53 per share for an issue size of Rs 51 crore. The stock listed with a 3.30% gain versus its issue price on September 25, 2026.
The issue is promoted by Alpeshkumar Naginbhai Patel, Kinnari Alpeshkumar Patel, Sadique Abdul Kadar Banani, Asma Mohamad Sadique Banani with SKI Capital Services Ltd. acting as lead manager. Anchor investors have committed Rs 6 crore ahead of the public issue — about 11% of the total issue size. Anchor allocation was completed on September 17, 2026. Net proceeds will primarily be used towards capital Expenditures (Rs 28 crore) and prepayment or repayment of a portion of certain outstanding borrowings availed by the Company (Rs 9 crore).
At the upper end of the price band, the issue is priced at a post-issue P/E of 20.22x. On fundamentals, the company is posting revenue growth of 12.2%, a profit margin of 9.4%, return on equity of 28.4% in its most recent reported period. Listed peers in this segment include Confidence Petroleum India Limited (P/E 26.70x) and Aegis Logistics Limited (P/E 52.81x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read mixed — some indicators read positively and others do not. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Axiom Gas Engineering IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. No grey market premium was recorded for Axiom Gas Engineering before it listed.
See the full Axiom Gas Engineering GMP history and trend, or learn how grey market premium works and how reliable it is.
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