Liqvd Digital IPO drew strong demand on the final day of bidding and Axiom Gas Engineering debuted on the NSE Emerge platform. The National Stock Exchange (NSE) warned investors against illegal dabba trading platforms.

The Liqvd Digital India’s ₹39 crore SME IPO was subscribed 5.08 times on the final day of bidding and Axiom Gas Engineering shares began trading at ₹54.75 against an issue price of ₹54. The NSE also warned investors against a Telegram channel and a trading platform that it said were offering illegal dabba trading services.

Liqvd Digital IPO Subscription at 5.08x

The ₹39 crore SME IPO of Liqvd Digital India was subscribed 5.08 times on the final day of bidding. The issue attracted bids for 3.86 crore equity shares against 75.94 lakh shares on offer.

The non-institutional investor portion received the highest demand and was subscribed 21.02 times. The retail portion was subscribed 1.43 times, while the qualified institutional buyer category was fully subscribed.

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The company had set the IPO price band at ₹51-54 per equity share. Liqvd Digital India provides digital marketing solutions and its shares are scheduled to list on the BSE SME platform.

Liqvd Digital IPO: Where Will the Funds Be Used?

The fresh issue proceeds are intended for several business requirements. Liqvd Digital India had proposed to utilise ₹9 crore to acquire a 23.21% stake in AdLift Marketing Pvt Ltd.

Another ₹10.59 crore is planned for setting up a full-scale video content production hub. About ₹6.57 crore is earmarked for incremental working capital requirements. The remaining proceeds are intended for acquisitions and general corporate purposes.

The company reported consolidated revenue from operations of ₹60.24 crore and a net profit of ₹8.03 crore in FY26.

Axiom Gas Engineering Shares List at ₹54.75

Axiom Gas Engineering made its debut on the NSE Emerge platform at ₹54.75 per share, compared with its IPO issue price of ₹54. The company raised ₹50.75 crore through its SME IPO.

Axiom Gas Engineering’s IPO comprised 93.98 lakh equity shares and attracted overall subscription of around 1.39 times. The issue was open for subscription from September 18 to September 22, 2026.

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The company is engaged in the distribution and retailing of auto liquefied petroleum gas and the IPO proceeds were intended for capital expenditure and expansion, debt repayment, and general corporate purposes.

NSE Warns Investors Against Dabba Trading Platforms

The exchange cautioned investors against a Telegram channel called “Dabba Traders Since 2016” and the “Blue Rock Trading Platform”. The exchange stated that the operators were neither registered members nor authorised persons of any NSE member and a police complaint had been filed.

Dabba trading refers to transactions taking place outside the recognised stock exchange mechanism by unregistered entities or persons and the NSE states that organising, assisting in organising or participating in dabba trading is illegal and punishable by law.

The exchange has advised investors to deal only with SEBI-registered intermediaries and warned against unauthorised trading platforms, social-media-based investment schemes and offers of assured or guaranteed returns.

What Investors Need to Know About These Developments

The developments related to Liqvd Digital IPO subscription, Axiom Gas Engineering listing and NSE’s dabba trading warning are separate occurrences.

IPO subscription figures indicate the demand received during the issue period and the listing price is the price at which shares start to be traded on the exchange. Investors contemplating SME IPOs should scrutinise the company’s offer documents and exchange disclosures prior to an investment decision.

For trading services, investors should verify if the intermediary has been registered with the relevant regulator. The NSE specifically advises investors to avoid unregulated trading platforms and illegal dabba trading services.

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