Axiom Gas Engineering IPO

The Axiom Gas Engineering SME IPO is open between 18 Sept 2026 and 22 Sept 2026, offered at a price band of ₹50–53 per share, and is set to list on NSE. The IPO seeks to raise ₹49.81 crore. Retail investors bid in lots of 2000 shares, a minimum application of ₹2,12,000.

Issue structure

The IPO is structured entirely as a fresh issue of ₹47.28 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward capital expenditures (₹27.6 crore), alongside prepayment or repayment of a portion of certain outstanding borrowings availed by the company (₹9.12 crore). In all, 3 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Axiom Gas Engineering reported revenue of ₹100.78 crore and a net profit of ₹9.45 crore. Revenue grew from ₹74.54 crore in FY2024 to ₹100.78 crore in FY2026 (+35.0%). Net worth stood at ₹33.28 crore at the end of FY2026.

Valuation

At the upper band, the issue is priced at 19.85× post-issue earnings and 4.13× book value, against a return on net worth of 28.4% and a debt-to-equity ratio of 0.48. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including Aegis Logistics Limited and Confidence Petroleum India Limited, with a median peer P/E of about 39.8×. The issue's own post-issue P/E works out to 19.85×.

Promoters

The promoters of the company are <p>Alpeshkumar Naginbhai Patel, Kinnari Alpeshkumar Patel, Sadique Abdul Kadar Banani, Asma Mohamad Sadique Banani</p>. Promoter holding stands at 98.28% before the issue and comes down to 72.15% after listing.

Grey market premium (GMP)

In the unofficial grey market, Axiom Gas Engineering shares are quoted at a premium of ₹0 implying an expected listing around ₹53, about +0.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

What to weigh

When evaluating the Axiom Gas Engineering IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Axiom Gas Engineering

Established in 2007, Axiom Gas Engineering Limited 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. As of June 30, 2024, the company operated 18 Auto LPG Dispensing Stations in Telangana, Maharashtra, and Karnataka. Operating under the brand name " PrimeFuel ," AGEL manages Auto LPG Dispensing Stations across multiple states in India. The company has demonstrated strong financial growth, with increasing revenues and profits. 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. As of December 2024, the company has 21 permanent employees. 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).