Axiom Gas Engineering Ltd

AXIOMGAS Axiom Gas Engineering Ltd

NSE IPO

Bidding dates18 Sep 2026 - 22 Sep 2026

Price range₹51 - ₹54

Min. investment₹2,16,000

Issue size50.75 Cr

Lot size2000 Shares

IPO DocRHP

IPO Timeline

Start date

18 Sep 2026

End date

22 Sep 2026

Allotment date

23 Sep 2026

Refund initiation

24 Sep 2026

Share credit

24 Sep 2026

Deactivate mandate

25 Sep 2026

About company

Incorporated in 2007, Axiom Gas Engineering Ltd. specialises in green energy engineering solutions. The company offers Auto LPG, CNG, and LNG solutions, catering to retail and industrial sectors with a commitment to quality, innovation, and environmental sustainability. The company operates 20+ Auto LPG Dispensing Stations (ALDS) under the name, "PRIMEFUEL" across multiple states in India including Telangana, Karnataka, and Maharashtra.

The company offers the following services:-

Gas and Pipe Engineering: Designs, implements, and maintains efficient gas systems for various industrial and commercial needs.

Turnkey Services:Provides turnkey services for LPG/CNG retail, bottling, and bulk installations from concept to completion.

Statutory Testing and Certification: Testing and Certification for hydrocarbon equipment, ensuring compliance with safety standards.

Technical Consultancy: Provide expert guidance on hydrocarbon equipment design and optimization.

Maintenance Operation and Training: Provides maintenance and training programs to enhance gas system longevity and performance.

Manufacturing Pressure Vessels Through Third-Party Collaboration.

Specializing in Industrial and Commercial LPG solutions.

Founded in 2007

Managing director Nikhil Tiwari

Parent organisation Axiom Gas Engineering IPO

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Strengths and Risks

Strengths

Established presence in Auto LPG distribution, retailing (via its PrimeFuel retail network), and gas and pipe engineering services since 2007.

Proven expertise in executing complex gas engineering projects, statutory testing, technical consultancy, and maintaining industrial/commercial LPG systems across challenging regional terrains.

Priced at a relatively modest P/E multiple of around 14.5x based on recent earnings, making it accessible relative to broader specialty industrial peers.

Risks

The company is heavily reliant on a tiny pool of third-party vendors for sourcing liquefied petroleum gas, with just a few suppliers accounting for over 99% of its total procurement. Any disruption from these sources can cripple operations.

A substantial portion of its LPG transportation is handled by a group-related entity (Prime Fuel Logistics Private Limited), exposing the business to potential bottlenecks, delays, or transport disruptions.

Transporting and retailing high-pressure, flammable LPG carries inherent operational hazards, safety risks, and strict regulatory compliance requirements where accidents or mishaps can severely damage operations and reputation.