Axiom Gas Engineering IPO GMP Today

Axiom Gas Engineering Limited, incorporated in 2007 as Axiom Gas Engineering Private Limited, is engaged in the distribution and retailing of auto liquefied petroleum gas (auto LPG). The company was founded by Alpeshkumar Naginbhai Patel and was joined by Sadique Abdul Kadar Banani in 2012. The promoters have around 26 years of experience in the oil and gas sector. The company operates through a network of auto LPG dispensing stations (ALDS) across Telangana, Karnataka, and Maharashtra. Its operations include procurement of auto LPG, storage, transportation, and distribution to its dispensing stations, where the fuel is sold to end consumers, primarily catering to the transport sector. The company has developed storage and allied infrastructure to support its distribution activities. Its infrastructure includes storage, handling, and dispensing facilities designed to comply with applicable regulatory requirements for auto LPG distribution. The company’s revenues are primarily derived from the retail sale of auto LPG through its ALDS network. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Capital expenditure – Rs 27.60 crore Prepayment or repayment of a portion of certain outstanding borrowings availed by our company – Rs 9.12 crore General corporate purposes