Shares of Axiom Gas Engineering are set to debut on the NSE SME platform on September 25, 2026, following an IPO that received an overall subscription of 1.39 times. Investors will now track the company's listing price and early trading activity.
The Rs 50.75 crore IPO was entirely a fresh issue of 93.98 lakh shares and was open for subscription from September 18 to September 22.
The price band was fixed at Rs 51-Rs 54 per share, with a lot size of 2,000 shares. Retail investors were required to apply for a minimum of 4,000 shares, translating into an investment of Rs 2.16 lakh at the upper price band.
The Axiom Gas Engineering IPO was subscribed 1.39 times overall. The issue received 1.86 times subscription from individual investors, while the QIB portion was subscribed 1.10 times and the NII category was subscribed 0.98 times.
SKI Capital Services Ltd. acted as the book running lead manager, while KFin Technologies Ltd. was the registrar.
Read more: NSE IPO Tracker: Catch all the highlights here
IPO Objects of the Issue
The company plans to utilise Rs 27.60 crore of the IPO proceeds towards capital expenditure to support its growth and expansion plans. Another Rs 9.12 crore is earmarked for the prepayment or repayment of certain outstanding borrowings.The remaining proceeds will be used for general corporate purposes. The total amount allocated across these IPO objects is Rs 36.72 crore.
Financial Performance
Axiom Gas Engineering Ltd.'s total income rose 12% to Rs 101 crore in FY26 from Rs 90 crore in FY25. Profit after tax (PAT) also increased 22%, rising from Rs 8 crore in FY25 to Rs 9 crore in FY26.
About Axiom Gas Engineering Ltd.
Axiom Gas Engineering Ltd. provides green energy engineering solutions, including Auto LPG, CNG and LNG solutions for retail and industrial customers. The company operates more than 20 Auto LPG Dispensing Stations (ALDS) under the "PRIMEFUEL" brand across states including Telangana, Karnataka and Maharashtra.
Its offerings include gas and pipe engineering, turnkey LPG/CNG retail and bottling solutions, statutory testing and certification of hydrocarbon equipment, technical consultancy, maintenance and training. The company also undertakes third-party manufacturing of pressure vessels and provides industrial and commercial LPG solutions.
Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
