Axiom Gas Engineering Files IPO Papers with NSE Emerge: Fresh Issue of 94.92 Lakh Shares

Hyderabad, 3 October 2025 – Axiom Gas Engineering Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering on the NSE Emerge. The issue comprises up to 94.92 lakh shares of fresh equity with a face value of ₹5. No Offer for Sale (OFS) component is involved, so that all proceeds will remain with the company as fresh equity. The Book Running Lead Manager is SKI Capital Services Ltd. The registrar will be KFin Technologies Ltd.

Axiom Gas Engineering IPO Utilization of Proceeds

The company shall utilize the funds raised for different purposes. Approximately ₹27 crore will be allocated towards capital expenditure, ₹7 crore towards prepayment or repayment of borrowings, and up to ₹10 crore or 15% of the net proceeds towards general corporate purposes.

Axiom Gas Engineering IPO Company Profile and Promoters

Axiom Gas Engineering was established in 2007 and reconstituted as a public limited company in 2024. Axiom primarily deals in the petroleum engineering sector and the Auto LPG retailing business. The company owns company-owned Auto LPG Dispensing Stations (ALDS) and associated storage infrastructure located in Telangana, Karnataka, and Maharashtra. Promoters of the company include Alpeshkumar N. Patel, Kinnari A. Patel, Sadique Abdul Kadar Banani, and Asma Mohamad Sadique Banani. Its registered office is in Vadodara, while its corporate office is in Hyderabad.

Axiom Gas Engineering IPO Financial Performance

In FY25, the company reported revenue of ₹8,983.83 lakh and a profit after tax of ₹774.94 lakh. The company’s borrowings stood at ₹1,629.82 lakh, with a net asset value per share of ₹9.18. The promoters currently hold more than 98% of the equity, which will be diluted following the issue.

What Is Ahead?

The IPO is expected to provide Axiom Gas Engineering with growth capital to expand its dispensing station network, repay debt, and enhance its infrastructure. The listing may increase visibility and create new long-term growth opportunities as the adoption of clean fuel gains traction.

REF: https://nsearchives.nseindia.com/emerge/corporates/content/sezalm_01102025164011_DRHP_AXIOM.pdf

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