Axiom Gas Engineering Limited, a Vadodara-headquartered company specializing in the distribution and retailing of Auto Liquefied Petroleum Gas (Auto LPG), has received in-principle approval from NSE Emerge for its proposed Initial Public Offering.
The company filed its Draft Red Herring Prospectus with NSE Emerge in September 2025 and is currently preparing to file the Red Herring Prospectus with the Registrar of Companies and NSE Emerge with updated information.
The proposed offering comprises a fresh issuance of 94,92,000 equity shares, each with a face value of ₹5, through the book-building route. SKI Capital Services Limited serves as the sole Book Running Lead Manager, while KFIN Technologies Limited acts as the Registrar to the issue.
The company intends to utilize approximately ₹27 crore of the net proceeds toward capital expenditure requirements and ₹7 crore for prepayment or repayment of certain outstanding borrowings. The remaining funds will be deployed for general corporate purposes and issue expenses.
Business Operations
Axiom Gas Engineering operates through a network of Auto LPG Dispensing Stations across Telangana, Karnataka, and Maharashtra. The company follows a retail-centric business model, selling Auto LPG directly to end consumers. It procures Auto LPG from suppliers and manages storage, transportation, and distribution to its dispensing stations.
The company’s infrastructure includes storage, handling, and dispensing facilities designed to comply with regulatory standards applicable to Auto LPG distribution. Its retail operations primarily cater to the transportation sector, marketing Auto LPG as an alternative automotive fuel.
Axiom Gas Engineering reported revenue from operations of ₹89.83 crore and a profit after tax of ₹7.74 crore in financial year 2024-25, representing growth from ₹74.53 crore in revenue and ₹5.74 crore in profit during FY24.
The company was founded by Alpeshkumar Naginbhai Patel, who was later joined by Sadique Abdul Kadar Banani in 2012. The promoters bring over 48 years of cumulative experience in the oil and gas industry.
Potential investors are advised that investment in equity shares involves a high degree of risk. Details regarding risk factors are available in the Draft Red Herring Prospectus filed with NSE Emerge.