•
•
•
•
•
•
•
Axiom Gas Engineering's IPO opened for public subscription on September 18, 2026, marking the start of a three-day bidding period for the SME issue. The offering will remain open until September 22, with allotment expected on September 23 and a tentative NSE SME listing scheduled for September 25.
The company is looking to raise ₹50.75 crore through a fresh issue of 93.98 lakh shares. The IPO price band has been fixed at ₹51 to ₹54 per share, while the lot size is 2,000 shares. At the upper end of the price band, a retail investor applying for the minimum lot would need to invest ₹1.08 lakh per lot.
Axiom Gas Engineering operates in the gas and clean-energy engineering space, providing solutions involving Auto LPG, CNG and LNG. Its operations include gas and pipe engineering, LPG and CNG retail and bottling solutions, hydrocarbon equipment testing and certification, as well as industrial and commercial LPG services.
The company also operates more than 20 Auto LPG dispensing stations under the PRIMEFUEL brand across states including Telangana, Karnataka and Maharashtra.
A significant portion of the IPO proceeds is earmarked for business expansion. The company plans to allocate ₹27.60 crore toward capital expenditure, while another ₹9.12 crore is intended for the prepayment or repayment of certain borrowings. The remaining funds will be used for general corporate purposes.
Axiom Gas Engineering reported an increase in total income from ₹90 crore in FY25 to ₹101 crore in FY26, while profit after tax rose from ₹8 crore to ₹9 crore during the same period.
Market participants are also monitoring the company's grey-market premium (GMP), a widely followed but unofficial indicator of sentiment toward IPOs. At the time of the Economic Times report, no GMP was being reported, indicating that there was no established grey-market premium to reference. GMP figures can change independently of the official IPO process and do not guarantee listing performance.
The IPO comes at a time when investors continue to monitor opportunities in India's energy-transition and infrastructure-related businesses. However, as with other SME offerings, investors will be watching the company's financial performance, issue valuation, liquidity and future growth plans alongside subscription data.
The focus now shifts to subscription levels through September 22, followed by the allotment process and the company's proposed SME-market debut.
