Axiom Gas Engineering IPO Date & Timeline
Tentative schedule from the RHP.
Axiom Gas Engineering IPO GMP Today
Unofficial, aggregated from market sources. It never feeds our score.
Full GMP history (1 updates)
| Date & time (IST) | GMP | Change | GMP % | Est. listing |
|---|---|---|---|---|
| Sep 24, 2026 · 7:20 PM | ₹0 | — | 0.0% | ₹54 |
Axiom Gas Engineering IPO Subscription Status
From NSE + BSE bid data, excluding the anchor portion.
Day-wise subscription
| Day | QIB | bHNI | sHNI | NII total | Individual | Total |
|---|---|---|---|---|---|---|
| Shares offered | 7,14,000 | 23,76,000 | 11,88,000 | 35,68,000 | 35,68,000 | 78,50,000 |
| Day 1 · Sep 18 | 0.80× | 0.58× | 0.50× | 0.55× | 0.64× | 0.61× |
| Day 2 · Sep 21 | 0.80× | 0.92× | 0.59× | 0.81× | 1.03× | 0.91× |
| Day 3 · Sep 22 | 1.10× | 1.22× | 0.92× | 1.12× | 1.86× | 1.45× |
Axiom Gas Engineering IPO Details
Checked against the RHP and cross-checked on NSE and BSE.
| IPO date | Sep 18 – 22, 2026 |
| Price band | ₹51 – 54 per share |
| Face value | ₹5 per share |
| Lot size | 2,000 shares |
| Total issue size | 93,98,000 shares ₹50.75 Cr |
| Fresh issue | 93,98,000 shares ₹50.75 Cr |
| Issue type | Book Built · SME |
| Listing at | NSE SME |
| Market cap | ≈ ₹190.86 Cr |
| Promoter holding | 98.28% → 72.15% |
| Lead manager | SKI Capital Services Ltd. |
| Market maker | Sunflower Broking Pvt. Ltd. |
| Registrar | KFin Technologies Ltd. |
Offer documents
Axiom Gas Engineering IPO Lot Size
Minimum and maximum bids by investor type at the upper band of ₹54.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual (min) | 2 | 4,000 | ₹2,16,000 |
| Individual (max) | 2 | 4,000 | ₹2,16,000 |
| sHNI (min) | 3 | 6,000 | ₹3,24,000 |
| sHNI (max) | 9 | 18,000 | ₹9,72,000 |
| bHNI (min) | 10 | 20,000 | ₹10,80,000 |
Axiom Gas Engineering IPO Reservation
Shares set aside for each category, and the maximum number of applicants who can get an allotment.
| Category | Shares offered | % of issue | Max. allottees |
|---|---|---|---|
| Market maker | 4,78,000 | 5.1% | — |
| Anchor investors | 10,70,000 | 11.4% | — |
| QIB (ex-anchor) | 7,14,000 | 7.6% | — |
| NII (HNI) | 35,68,000 | 38% | — |
| ↳ bHNI (>₹10L) | 23,76,000 | 25.3% | 396 |
| ↳ sHNI (₹2–10L) | 11,88,000 | 12.6% | 198 |
| Individual | 35,68,000 | 38% | 892 |
| Total | 93,98,000 | 100% |
Axiom Gas Engineering Financials (FY24 – FY26)
Restated consolidated figures from the RHP, ₹ crore. Years end March 31.
Financial statement
| ₹ Cr | FY24 | FY25 | FY26 | YoY |
|---|---|---|---|---|
| Revenue | 74.54 | 89.85 | 100.78 | +12.2% |
| Profit after tax | 5.74 | 7.75 | 9.45 | +21.9% |
| Total assets | 52.37 | 60.83 | 69.38 | +14.1% |
| Net worth | 13.85 | 23.83 | 33.28 | +39.7% |
| Reserves & surplus | 13.60 | 10.86 | 20.31 | +87.0% |
| Total borrowing | 20.12 | 16.30 | 16.06 | −1.5% ✓ |
Axiom Gas Engineering IPO Valuation & Peer Comparison
At the upper band of ₹54. Peers from the RHP "Basis for Offer Price".
Peer comparison
| Company | P/E | P/B | RoNW |
|---|---|---|---|
| Axiom Gas Engineering | 14.8× | — | 28.40% |
| Confidence Petroleum | 26.7× | — | 6.81% |
| Aegis Logistics | 52.8× | — | 18.37% |
About Axiom Gas Engineering
Business profile from the RHP.
- 2007Incorporated · Vadodara, Gujarat
- 20+Auto LPG stations under the PRIMEFUEL brand
- 3 statesTelangana, Karnataka, Maharashtra
- Engineering + retailGas/pipe engineering, turnkey projects, pressure vessels
Promoters & holding
Alpeshkumar Naginbhai Patel, Kinnari Alpeshkumar Patel, Sadique Abdul Kadar Banani, Asma Mohamad Sadique Banani
Objects of the issue
Anchor investors
Allotted Sep 17, 2026 · 10,70,000 shares.
Axiom Gas Engineering IPO Review: Should You Apply?
Our 100-point score, and both sides of the case.
Our view: A steadily growing, profitable gas-engineering and auto-LPG business with ~28% ROE, falling debt and most of the issue going to capex. But ~20× post-issue earnings and ~4× book is full for a small SME in a sector investors have not favoured, and demand was only modest (1.45×).
- Consistent growth: revenue up from ₹74.5 Cr (FY24) to ₹100.8 Cr (FY26) and profit from ₹5.7 Cr to ₹9.5 Cr.
- Strong returns: ROE/RoNW ~28% and ROCE ~29%, with a ~15% EBITDA margin.
- Balance sheet improving: borrowings down to ₹16.1 Cr and D/E ~0.48; ₹9.1 Cr of the issue repays more debt.
- Mostly growth money: ₹27.6 Cr of the fresh issue goes to capital expenditure, and promoters keep ~72%.
- Full valuation: ~20× post-issue earnings and ~4.2× book for a small SME; IPOWatch's reviewer calls it aggressive.
- Auto LPG is a niche fuel that competes with CNG, EVs and petrol; IPOWatch notes the segment hasn't been favoured by investors.
- IPOWatch's reviewer questions the steadily rising margins ahead of the IPO.
- Modest demand: 1.45× overall with small HNIs under 1×, and no grey-market premium.
- SME listing: ₹2,16,000 minimum ticket (2 lots), trading in lots and usually thin liquidity.
- Figures conflicted across sources (IPOji's band text shows ₹50–53); ₹51–54 used, per IPOWatch, Chittorgarh and IPOji's own valuation figures.
Axiom Gas Engineering Listing Performance Updates after Sep 25
We close the loop: issue vs listing price, and whether our call was right.
Axiom Gas Engineering IPO Allotment Status & Contact Details
Allotment was finalised on Sep 23. Check it with your PAN or application number.
KFin Technologies Ltd.
- Phone
- 040-79615565
- agel.ipo@kfintech.com
Axiom Gas Engineering Ltd.
- Address
- 522 to 527, SWC Hub, 5th Floor, Opp. Rajpath Complex, Near Essar Petrol Pump, Bhaily, Vadodara, Gujarat 391410
- Phone
- +91 40 4506 5015
- compliance@axiomgas.com
- Website
- axiomgas.com
Axiom Gas Engineering IPO FAQs
GMP, price, lot size, dates, allotment and how to apply.
What is Axiom Gas Engineering IPO?
Axiom Gas Engineering IPO is a ₹50.75 Cr SME book built issue, entirely a fresh issue. The shares will list on NSE SME.
What is Axiom Gas Engineering IPO GMP today?
As of Sep 24 · 7:20 PM IST, the grey market premium is ₹0 (≈0.0%), implying an estimated listing price of about ₹54. The GMP has ranged ₹0 since Sep 24. GMP is unofficial and not a guarantee of the listing price.
What is the price band of Axiom Gas Engineering IPO?
The price band is ₹51 – ₹54 per equity share of face value ₹5.
What is the lot size of Axiom Gas Engineering IPO?
The minimum lot is 2,000 shares. Individual investors must apply for exactly 2 lots (4,000 shares).
What is the minimum investment for Axiom Gas Engineering IPO?
The minimum individual investment is ₹2,16,000 (4,000 shares at ₹54).
When does Axiom Gas Engineering IPO open and close?
The IPO opens on Sep 18, 2026 and closes on Sep 22, 2026.
What is the allotment date of Axiom Gas Engineering IPO?
The basis of allotment is finalised on Sep 23, 2026. Refunds and demat credit are expected on Sep 24, 2026.
When will Axiom Gas Engineering IPO be listed?
The tentative listing date is Sep 25, 2026 on NSE SME.
What is Axiom Gas Engineering IPO subscription status?
At close (Sep 22 · 5:00 PM IST), the issue was subscribed 1.45× overall — QIB 1.10×, bHNI 1.22×, sHNI 0.92×, Individual 1.86×.
What is the P/E ratio and valuation of Axiom Gas Engineering IPO?
At the upper band, the P/E is 14.8× pre-issue and 20.2× post-issue, with a market cap of about ₹190.86 Cr. Listed peers include Confidence Petroleum (26.7×) and Aegis Logistics (52.8×).
Should I apply for Axiom Gas Engineering IPO?
IPOSignal's view is Proceed with Caution · Steady Growth, Full Price (58/100). A steadily growing, profitable gas-engineering and auto-LPG business with ~28% ROE, falling debt and most of the issue going to capex. But ~20× post-issue earnings and ~4× book is full for a small SME in a sector investors have not favoured, and demand was only modest (1.45×). This is research, not investment advice.
How to check Axiom Gas Engineering IPO allotment status?
Check on the registrar KFin Technologies Ltd.'s site (ipostatus.kfintech.com), or on the BSE / NSE allotment pages, using your PAN or application number.
Who is the registrar and lead manager of Axiom Gas Engineering IPO?
The registrar is KFin Technologies Ltd.. The book-running lead manager is SKI Capital Services Ltd.. The market maker is Sunflower Broking Pvt. Ltd..