Axiom Gas Engineering IPO
Gas Distribution • ₹50.75 Cr
High risk because:
- 5 material risk factors disclosed in DRHP
- Regulatory or legal risks cited in DRHP
- SME listing with thinner post-listing liquidity
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹54
Lot Size
2000 shares
Issue Size
₹50.75 Cr
Open
18 Sept 2026
Close
22 Sept 2026
Subscription
1.36×
IPO Schedule
| Issue Open Date | 18 Sept 2026 |
| Issue Close Date | 22 Sept 2026 |
| Allotment Date | 23 Sept 2026 |
| Listing Date | 24 Sept 2026 |
About Axiom Gas Engineering
Axiom Gas Engineering Limited, incorporated in 2007 as Axiom Gas Engineering Private Limited, is engaged in the distribution and retailing of auto liquefied petroleum gas (auto LPG). The company was founded by Alpeshkumar Naginbhai Patel and was joined by Sadique Abdul Kadar Banani in 2012. The promoters have around 26 years of experience in the oil and gas sector. The company operates through a network of auto LPG dispensing stations (ALDS) across Telangana, Karnataka, and Maharashtra. Its operations include procurement of auto LPG, storage, transportation, and distribution to its dispensing stations, where the fuel is sold to end consumers, primarily catering to the transport sector. The company has developed storage and allied infrastructure to support its distribution activities. Its infrastructure includes storage, handling, and dispensing facilities designed to comply with applicable regulatory requirements for auto LPG distribution. The company’s revenues are primarily derived from the retail sale of auto LPG through its ALDS network. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Capital expenditure – Rs 27.60 crore Prepayment or repayment of a portion of certain outstanding borrowings availed by our company – Rs 9.12 crore General corporate purposes
Company Details
Founders / Promoters
Mr. Nikhil Tiwari
Founded
2007
Registrar
KARVY
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Axiom Gas Engineering — IPOFins Verdict
QuantitativeDriven by QIB demand at 1.1x and elevated disclosed risk (8/10), Axiom Gas Engineering listed at a premium of 1.4% to its issue price. SME listings are also thinner and more volatile after listing. The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
- The company claims to own and operate a network of auto LPG dispensing stations along with associated storage infrastructure.
- The company claims to have operations across three states, providing geographic diversification.
- The company claims to have an integrated operating model from procurement to retail sale of auto LPG.
- The company claims to have established compliance processes for the handling, storage, and dispensing of auto LPG under applicable regulatory requirements, including PESO permissions and the Petroleum
- The company has seen a consistent increase in revenue from operations and PAT. Revenue from operations increased from Rs 74.54 crore in FY24 to Rs 89.84 crore in FY25 to Rs 100.76 crore in FY26, while
Score breakdown — what drove this verdict
High risk from DRHP → score -1.2
Institutional subscription → score 0
Actual listing outcome → score +0.5
SME IPOs have lower liquidity after listing → score −0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹54
Listing Price
₹54.75
Listing Gain/Loss
+1.39%
Listing Date
24 Sept 2026
Price Since Listing
Returns are measured against the ₹54 issue price.
Listing
₹54.75
+1.4%
Current
₹51.35
-4.9%
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FAQ
What is the price band of Axiom Gas Engineering IPO?
The price band is ₹54 per share with a lot size of 2000 shares. Minimum investment: ₹1,08,000.
What does Axiom Gas Engineering do?
Axiom Gas Engineering Limited, incorporated in 2007 as Axiom Gas Engineering Private Limited, is engaged in the distribution and retailing of auto liquefied petroleum gas (auto LPG). The company was founded by Alpeshkumar Naginbhai Patel and was joined by Sadique Abdul Kadar Banani in 2012. The promoters have around 26 years of experience in the oil and gas sector. The company operates through a network of auto LPG dispensing stations (ALDS) across Telangana, Karnataka, and Maharashtra. Its operations include procurement of auto LPG, storage, transportation, and distribution to its dispensing stations, where the fuel is sold to end consumers, primarily catering to the transport sector. The company has developed storage and allied infrastructure to support its distribution activities. Its infrastructure includes storage, handling, and dispensing facilities designed to comply with applicable regulatory requirements for auto LPG distribution. The company’s revenues are primarily derived from the retail sale of auto LPG through its ALDS network. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Capital expenditure – Rs 27.60 crore Prepayment or repayment of a portion of certain outstanding borrowings availed by our company – Rs 9.12 crore General corporate purposes
Should I apply for Axiom Gas Engineering IPO?
Axiom Gas Engineering listed at ₹54.75 (+1.4% premium to the ₹54 issue price) after 1.4x subscription. IPOFins Score 4/10: Driven by QIB demand at 1.1x and elevated disclosed risk (8/10), Axiom Gas Engineering listed at a premium of 1.4% to its issue price. SME listings are also thinner and more volatile after listing. The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
Who founded Axiom Gas Engineering?
Axiom Gas Engineering was founded by Mr. Nikhil Tiwari in 2007.