The Initial Public Offer (IPO) of Axiom Gas Engineering for about ₹40 -45 crore will be opened on last week of January 2026.
The Hyderabad-based company, engaged in the distribution and retailing of Auto Liquefied Petroleum Gas (Auto LPG), has received in-principle approval from NSE Emerge for its proposed IPO.
Axiom Gas Engineering operates 11 Auto LPG dispensing Stations in Telangana, 8 in Maharashtra and 2 in Karnataka under its flagship brand ‘PrimeFuel’.
The proposed IPO comprises a fresh issuance of up to 94,92,000 Equity Shares each with a face value of ₹5, through the book-building route, MS Banani, Promoter, Axiom Gas Engineering, told media here on Thursday.
According to DRHP, the Company intends to utilise ₹27 crore of the net IPO proceeds towards capital expenditure requirements and ₹7 crore towards prepayment or repayment of a portion of certain outstanding borrowings availed by the Company.
SKI Capital Services Ltd is the sole Book Running Lead Manager to the issue, and KFIN Technologies Ltd is the Registrar.