Axiom Gas Engineering IPO
SMEAxiom Gas Engineering provides engineering, procurement, and construction (EPC) solutions alongside equipment supply for city gas distribution and industrial gas networks.
Verdict: Neutral
Est. GMP
₹0 (0%)
Price range
₹53
Lot size
—
Issue size
—
Allotment
23 Sept
Listing
25 Sept
Review
1. Grey market premium
★★★★★Grey market activity is currently inactive with a flat premium ahead of the opening date.
2. Company financials
★★★★★The business operates on typical contracting margins with moderate scale and high working capital intensity.
3. Subscription status
★★★★★Bidding is yet to open for the issue.
4. Anchor investors
★★★★★No anchor portion is allocated for this SME public offering.
Company financials
Amount ₹ in Crores
| Period ended | Revenue | Expense | EBITDA | PAT | Assets |
|---|---|---|---|---|---|
| 2022 | — | — | — | — | — |
| 2023 | — | — | — | — | — |
| 2024 | — | — | — | — | — |
Subscription
Anchor investors
Anchor book details pending.
Anchor bidding is not applicable for this SME offering.
Risks
- ConcentrationHigh revenue dependency on a limited set of city gas distribution (CGD) entities and EPC project awards.
- FinancialWorking capital cycles are elongated due to milestone-based payments and retention money in infrastructure contracts.
- RegulatoryOperations are strictly subject to Petroleum and Natural Gas Regulatory Board (PNGRB) safety and compliance norms.
- CyclicalBusiness growth is tightly linked to capital expenditure cycles of gas utilities and industrial expansion.