GMP IPO Watch
Axiom Gas Engineering IPO Closes Today
Axiom Gas Engineering IPO is scheduled to close today, September 22, 2026. The NSE SME issue has a price band of ₹51–₹54 per share and comprises a fresh issue of 93.98 lakh shares, with the total issue size of around ₹50.75 crore. The minimum retail application requires 4,000 shares, or ₹2.16 lakh at the upper price band.
| Particular | Details |
|---|---|
| IPO Name | Axiom Gas Engineering IPO |
| IPO Dates | Sep 18–22, 2026 |
| Price Band | ₹51–₹54 |
| Issue Size | ₹50.75 Cr |
| Issue Type | Fresh Issue |
| Shares Offered | 93.98 Lakh |
| Lot Size | 2,000 Shares |
| Minimum Retail Bid | 4,000 Shares |
| Minimum Investment | ₹2,16,000 |
| Listing Platform | NSE SME |
| Allotment | Sep 23, 2026 |
| Refund | Sep 24, 2026 |
| Demat Credit | Sep 24, 2026 |
| Listing | Sep 25, 2026 |
| Lead Manager | SKI Capital Services |
| Registrar | KFin Technologies |
Axiom Gas Engineering IPO GMP Today
The latest available GMP data shows Axiom Gas Engineering IPO GMP at ₹0. At the upper issue price of ₹54, this gives an unofficial indicative price of ₹54. The grey-market premium is unofficial and unregulated, and different trackers can report different figures.
| GMP Particular | Latest Update |
|---|---|
| GMP | ₹0 |
| Upper Price Band | ₹54 |
| Indicative Price | ₹54 |
| Indicative Premium | 0% |
Axiom Gas Engineering IPO Subscription Status
The latest available Day 2 figures, as of September 21, showed the IPO subscribed around 0.79x overall. QIB subscription stood at 0.80x, retail at 0.90x and NII at 0.69x. Zerodha's exchange-linked data later showed approximately 0.85x overall at 5 PM on September 21, with retail at 1.03x.
| Category | Latest Reported Subscription |
|---|---|
| QIB | 0.80x |
| NII | 0.69x |
| Retail | 1.03x |
| Overall | 0.85x |
The final subscription figures will be available after bidding closes today.
Axiom Gas Engineering Business Overview
Axiom Gas Engineering is engaged in the distribution and retailing of Auto Liquefied Petroleum Gas (Auto LPG) through Auto LPG Dispensing Stations. The company also provides gas and pipeline engineering, turnkey services, technical consultancy, maintenance, operations and training services.
The company operates more than 20 Auto LPG dispensing stations under the Primefuel name across markets including Telangana, Karnataka and Maharashtra. Its operations include LPG procurement, storage infrastructure and retail distribution.
Axiom Gas Engineering IPO Financial Performance
Axiom Gas Engineering has reported steady growth in revenue and profit over the last three financial years. Total income increased from ₹74.54 crore in FY2024 to ₹100.78 crore in FY2026, while PAT increased from ₹5.74 crore to ₹9.45 crore.
| Financial Year | Revenue | PAT |
|---|---|---|
| FY2024 | ₹74.54 Cr | ₹5.74 Cr |
| FY2025 | ₹89.85 Cr | ₹7.75 Cr |
| FY2026 | ₹100.78 Cr | ₹9.45 Cr |
FY2026 EBITDA was approximately ₹15.50 crore, with an EBITDA margin of around 15.36%, while PAT margin stood at approximately 9.38%.
Axiom Gas Engineering IPO Financial Ratios
The company's FY2026 financial indicators include ROE of around 28.40% and ROCE of approximately 28.90%. The reported debt-to-equity ratio was 0.48 and basic EPS was ₹3.64.
| Financial Indicator | FY2026 |
|---|---|
| EPS | ₹3.64 |
| ROE | 28.40% |
| ROCE | 28.90% |
| EBITDA Margin | 15.36% |
| PAT Margin | 9.38% |
| Debt-to-Equity | 0.48 |
| NAV | ₹12.83 |
Axiom Gas Engineering IPO Fund Utilisation
The company plans to use a significant part of the IPO proceeds for capital expenditure. Another portion will be used for repayment or prepayment of certain borrowings, with the remaining funds allocated toward general corporate purposes.
| IPO Objective | Amount |
|---|---|
| Capital Expenditure | ₹27.60 Cr |
| Debt Repayment / Prepayment | ₹9.12 Cr |
| General Corporate Purposes | Balance |
The proposed capital expenditure is intended to support the company's infrastructure and operating expansion.
Axiom Gas Engineering Auto LPG Network
Axiom Gas Engineering has developed an Auto LPG dispensing network along with related storage infrastructure. The company has a multi-state presence and provides services across the Auto LPG and gas-engineering value chain.
Its operations are supported by regulatory permissions and safety requirements applicable to LPG infrastructure. Expansion of the dispensing-station network is part of the company's growth strategy.
Axiom Gas Engineering IPO Key Risks
Supplier concentration is an important risk for the business. The company has reported that around 99.75% of LPG was sourced from its top three suppliers as of March 2026. It also has significant dependence on Prime Fuel Logistics for LPG transportation.
The company is also exposed to risks associated with LPG storage and handling, including safety and operational requirements. Geographic concentration across Telangana, Karnataka and Maharashtra could affect business performance if demand or operating conditions weaken in these markets.
The business also has relatively high fixed infrastructure costs, meaning lower utilisation of its dispensing and storage network could affect margins.
Axiom Gas Engineering IPO Important Dates
The IPO opened on September 18 and closes today, September 22, 2026. The basis of allotment is expected on September 23, refunds and demat credit are scheduled for September 24, and the shares are expected to list on NSE SME on September 25.
| IPO Event | Date |
|---|---|
| IPO Opening | Sep 18, 2026 |
| IPO Closing | Sep 22, 2026 |
| Allotment | Sep 23, 2026 |
| Refund | Sep 24, 2026 |
| Demat Credit | Sep 24, 2026 |
| Listing | Sep 25, 2026 |
Axiom Gas Engineering IPO Latest News Summary
Axiom Gas Engineering IPO is entering its final day of subscription with a ₹51–₹54 price band and an issue size of ₹50.75 crore. The latest reported subscription was around 0.85x overall, while retail bidding had crossed the 1x mark in the latest available exchange-linked data.
The latest GMP remains around ₹0, indicating no unofficial premium over the ₹54 upper price band. The company has reported steady financial growth, with FY2026 revenue of ₹100.78 crore and PAT of ₹9.45 crore.
Investors can track the final subscription numbers today, followed by allotment on September 23 and the proposed NSE SME listing on September 25.
Disclaimer: IPO GMP is an unofficial and unregulated market indicator and may change at any time. Subscription figures are updated during the IPO period and may differ depending on the reporting time. This article is for informational purposes only and should not be considered investment advice.
