Axiom Gas Engineering IPO Day 3: GMP ₹0

Hello investors! We’re now at the halfway mark for the Axiom Gas Engineering SME IPO on the NSE, and Day 3 has brought us to a point where we need to take a closer look at the numbers. As of today, September 20th, 2026, the subscription figures are showing zero across all categories. Yes, you read that right – zero. This is an interesting juncture for the IPO, especially considering it’s nearing its closing date on September 22nd.

Subscription Status

Let’s break down what these zero subscription numbers mean. We have zero subscriptions from Retail investors, zero from High Net-worth Individuals (HNIs) or Non-Institutional Investors (NIIs), and a complete absence of interest from Qualified Institutional Buyers (QIBs). The total subscription also stands at a flat zero. Typically, by Day 3 of an SME IPO, we’d expect to see at least some initial traction, even if it’s modest. The fact that no applications have been lodged yet is certainly noteworthy. It doesn’t necessarily spell doom, but it does suggest that either investors are waiting until the very last moment, or there’s a lack of immediate demand. For retail investors, this could be a sign of caution, as it might indicate a lack of strong market sentiment towards the issue. Similarly, the absence of NII and QIB interest, who are often key indicators of an IPO’s strength, is something to monitor closely. You’ll want to keep an eye on how these numbers shift in the final two days.

GMP Update

Now, let’s talk about the Grey Market Premium (GMP). Today, the GMP for Axiom Gas Engineering IPO is at ₹0. This is unchanged from yesterday’s ₹0. The issue price is set at ₹53, and with a GMP of ₹0, the expected listing price is also ₹53. This means the market, as reflected in the grey market, isn’t currently factoring in any premium over the issue price. A GMP of ₹0 suggests that the grey market isn’t anticipating a significant listing gain. While it’s not a negative signal, it’s also not an overtly positive one. Some investors use GMP as a barometer of market sentiment, and a flat ₹0 GMP can sometimes indicate a subdued interest or a wait-and-watch approach from the market makers. We’ll need to see if this changes in the final days of the IPO period.

Should You Apply?

So, the big question: should you be applying for the Axiom Gas Engineering IPO at this stage? Based on the current data, it’s a mixed bag. The subscription numbers are incredibly low, which could be concerning for those looking for a quick listing gain. However, the GMP also remaining at ₹0, hovering around the issue price, doesn’t signal any immediate red flags either. It’s possible that investors are holding back, waiting for the final subscription days to make their move, which is a common strategy for some. The lot size is 2000 shares, so it’s important to consider your investment size and risk appetite. Remember, SEBI registered investment advisors’ opinions are often valuable. They might offer insights based on their deeper analysis of the company’s fundamentals and the broader market conditions. The IPO period runs until September 22nd, so there’s still time for things to change. Weigh the current subscription status and GMP against the company’s fundamentals and your own investment goals. Always do your due diligence before committing your capital. You can view the full Axiom Gas Engineering IPO details here: View Full Axiom Gas Engineering IPO Details.