The Axiom Gas Engineering IPO opened for subscription today, September 18, 2026, providing investors with a three-day window until September 22, 2026. According to reports from The Economic Times, the issue is priced at ₹51-54 per share with a lot size of 2,000 shares. The company has set the minimum retail investment at ₹2.16 lakh for 4,000 shares at the upper price band. The issue represents a ₹50.75 crore book-built fresh issue comprising 93.98 lakh shares with ₹108,000 minimum investment requirement. Zerodha customers can apply online using UPI as a payment gateway, with the shares proposed to be listed on NSE SME platform.
The latest Grey Market Premium (GMP) for Axiom Gas Engineering IPO stands at ₹0, indicating an estimated listing price of ₹54. This represents a positive GMP of ₹0, suggesting the market expects the issue to list at a premium over its issue price. As per InvestorGain, the GMP is trading approximately 0% above its issue price of ₹54.00. The highest Grey Market Premium recorded so far is ₹0, with the latest update on September 18, 2026 at 8:31 AM. While a consistently positive GMP trend is generally seen as favorable, it is not a guarantee of listing gains, and investors should evaluate the issue's fundamentals before making investment decisions.
The IPO has successfully raised ₹5.78 crore from anchor investors ahead of its public launch, with the company allotting 10.70 lakh equity shares at ₹54 per share - the upper end of the price band. The anchor book saw participation from institutional investors including Vbcube, Zeal Global, and Chanakya. As of the latest data, the IPO has received zero subscription across all investor categories. Anchor investors subscribed to 10.70 lakh shares (11.39%) of the total offering, while retail individual investors and non-institutional investors each subscribed to 35.68 lakh shares (37.97%). Qualified institutional buyers showed no interest with zero subscription in their allocated portion. The allotment is scheduled for September 23, 2026, with listing expected on September 25, 2026 on the NSE SME platform.
The company has outlined specific utilization of the net proceeds from the fresh issue. As reported by The Economic Times, ₹27.60 crore will be allocated towards capital expenditures to support business expansion and modernization. Additionally, ₹9.12 crore will be used for prepayment or repayment of a portion of certain outstanding borrowings to strengthen the company's financial position. The remaining funds will be utilized for general corporate purposes to support ongoing operations and growth initiatives. The company's revenue increased by 12% and profit after tax rose by 22% between financial years ending March 31, 2026 and March 31, 2025, demonstrating strong financial performance.
Axiom Gas Engineering operates as a comprehensive gas and pipe engineering company providing turnkey LPG/CNG retail and bottling solutions. According to the company details reported by The Economic Times, it offers statutory testing and certification for hydrocarbon equipment to ensure safety compliance, along with technical consultancy, maintenance and training programs. The company also specializes in third-party manufacturing of pressure vessels and focuses on industrial and commercial LPG solutions. The company's operations are distribution and retailing of Auto LPG through a network of Auto LPG Dispensing Stations across Telangana, Karnataka, and Maharashtra. The company operates under the PrimeFuel brand and managed 18 Auto LPG Dispensing Stations as of June 30, 2024. The company's expertise includes executing projects in challenging geographical locations, cost optimization strategies without compromising safety standards, and rapid deployment capabilities to minimize turnaround times.
SKI Capital Services Ltd. serves as the book-running lead manager for the issue, while KFin Technologies Ltd. acts as the registrar. As reported by The Economic Times, the company's business model encompasses multiple service areas including gas and pipe engineering, turnkey LPG/CNG retail and bottling solutions, and specialized industrial solutions for the hydrocarbon sector. ICICI Bank Ltd. and HDFC Bank Limited serve as bankers to the issue, while Bridgehead Law Partners acts as the legal advisor. The company's market cap at offer price stands at ₹140.11 crore, which will increase to ₹190.86 crore post-issue. The company specializes in green energy engineering solutions and offers Auto LPG, CNG, and LNG solutions catering to retail and industrial sectors with a commitment to quality, innovation, and environmental sustainability.
