Hyderabad: Axiom Gas Engineering Limited, a company engaged in the distribution and retailing of Auto Liquefied Petroleum Gas (Auto LPG), has successfully completed its Anchor book subscription, raising ₹577.80 lakhs through the sale of 10,70,000 equity shares priced at ₹54/- each.
A group of marquee investors, including VBCUBE VENTURES FUND, ZEAL GLOBAL OPPORTUNITIES FUND AND CHANAKYA OPPORTUNITIES FUND I subscribed to the anchor book. While VBCUBE VENTURES FUND subscribed 25.98% of the anchor book, ZEAL GLOBAL OPPORTUNITIES FUND subscribed 34.77%, and CHANAKYA OPPORTUNITIES FUND I subscribed 39.25% of the anchor book portion.
Axiom Gas Engineering Limited’s IPO begins tomorrow, September 18, and will conclude on Tuesday, September 22, 2026. Axiom Gas Engineering Limited is looking to raise approximately ₹50.75 crore from the offering. The Company intends to utilize ₹2,760 lakhs from the proceeds of fresh issue of equity shares for funding its capital expenditure, comprising expansion of the ALDS network, enhancement of LPG storage and bottling plants, technological innovation and automation and energy initiatives, ₹912.45 lakhs for the prepayment or repayment, in full or in part, of certain outstanding borrowings availed by the Company, and plans to deploy remaining funds for general corporate purposes and offer expenses.
The price band of the issue is ₹51/- to ₹54/- per equity share with a face value of ₹5/- a piece. The Company’s IPO comprises a fresh issue of 93,98,000 Equity Shares with a face value of ₹5/- through the book-building route. SKI Capital Services Limited is the Book Running Lead Manager (“BRLM”), and KFIN Technologies Limited is the Registrar to the offer.
The Company has allotted 4,78,000 equity shares for the market maker and 35,68,000 equity shares allocated for the NII portion, 17,84,000 equity shares for QIBs, and the Individual Investors portion accounts for 35,68,000 equity shares.
Axiom Gas Engineering Limited is engaged in the business of distribution and retailing of Auto Liquefied Petroleum Gas and carries out operations through a network of Auto LPG Dispensing Stations in Telangana, Karnataka and Maharashtra. In addition to retail outlets, the Company has developed storage and allied infrastructure facilities to support the distribution and supply of Auto LPG.
The Company’s retail operations are structured to cater to the requirements of the transport sector, with auto LPG being marketed as an alternative automotive fuel. The Company’s infrastructure includes storage, handling, and dispensing facilities designed to meet regulatory standards applicable to Auto LPG distribution.
Disclaimer: AXIOM GAS ENGINEERING LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed the RHP with the NSE Emerge. The RHP is available on the website of the BRLM and the website of NSE. Any potential investors should note that investment in equity shares involves a high degree of risk, and for details relating to the same, please refer to the RHP, including the section titled “Risk Factors”, beginning on page 22 of the Red Herring Prospectus.
The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws in the United States, and unless so registered, and may not be issued or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with any applicable U.S. state securities laws. The Equity Shares are being issued and sold outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and the applicable laws of each jurisdiction where such issues and sales are made. There will be no public offering in the United States.
