Axiom Gas Engineering successfully listed on the NSE SME platform today at ₹54.75 per share, representing a 1.39% premium to its IPO price of ₹54. However, the stock experienced a flat trading debut, opening at ₹54.10 and trading with minimal movement throughout the session. The stock hit an intraday high of ₹57 and low of ₹54, with 40.34 lakh shares changing hands on the NSE. The listing follows the company's ₹50.75 crore IPO that was subscribed 1.36 times during its subscription period from September 18 to September 22.
The IPO received mixed subscription levels across different investor categories. Individual investors showed strong interest with 1.86 times subscription, while Qualified Institutional Buyers (QIBs) subscribed 1.10 times and Non-Institutional Investors (NIIs) subscribed 0.98 times. The issue comprised a fresh issue of 83.28 lakh equity shares with a lot size of 2,000 shares and retail investors required to apply for a minimum of 4,000 shares. The subscription breakdown shows Anchor Investors subscribed 18.36% (10.70 lakh shares) at ₹54 per share, Market Makers subscribed 8.2% (4.78 lakh shares), Non-Institutional Investors subscribed 61.2% (35.68 lakh shares), and Qualified Institutional Buyers subscribed 12.24% (7.14 lakh shares).
The ₹50.75 crore IPO proceeds will be allocated across multiple strategic objectives. ₹36.72 crore will be used for capital expenditure, debt repayment, and general corporate purposes. The remaining funds will support the company's expansion and operational requirements as it transitions to public market operations. The proceeds will specifically meet capital expenditure requirements, working capital needs, and general corporate purposes.
Axiom Gas Engineering operates in the gas and pipe engineering sector, primarily engaged in the distribution and retailing of Auto Liquefied Petroleum Gas (Auto LPG). The company operates a network of Auto LPG Dispensing Stations supported by storage and logistics infrastructure, with Telangana accounting for 60.42% of revenue and Maharashtra contributing 31.39%. The company's network is presently spread across the states of Telangana, Karnataka, and Maharashtra for Auto LPG distribution. As per the latest financial data, the company reported consolidated revenue of ₹100.75 crore and profit after tax of ₹9.45 crore for the year ending March 31, 2026, compared to revenue of ₹89.85 crore and PAT of ₹7.75 crore in the previous year. The company had 19 employees as of March 31, 2026, including key managerial personnel.
