Exim Routes IPO
GMP, Subscription, Price, Dates & Financial Details
Exim Routes Limited, incorporated in April 2019, is a global platform specializing in the exchange of recyclable materials, primarily wastepaper. The Company provides end-to-end solutions to Indian paper mills, covering global sourcing, quality assurance, logistics management, and trade…
Open Date
Fri, 12 Dec 2025
Close Date
Tue, 16 Dec 2025
Price Band
₹ 83 – 88
Lot Size
1600
Issue Size
₹ 43.73 Cr
Minimum Investment
₹ 281,600 (3200 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Exim Routes IPO has successfully completed its IPO process and is now listed on NSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹43.73 Crore.
The Exim Routes IPO remained open for subscription from December 12, 2025, to December 16, 2025. The basis of allotment was finalized on December 17, 2025, and the company's shares were listed on NSE SME Platform on December 19, 2025.
The company had fixed the price band at ₹83 to ₹88 per share, with a lot size of 1600 shares. Retail investors were required to make a minimum investment of ₹281,600 (based on the upper price band) to apply for one lot.
Maashitla Securities Pvt. Limited served as the registrar to the issue. Narnolia Financial Services acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Exim Routes Limited is now a publicly listed company on NSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Exim Routes IPO Timeline (Tentative)
- IPO Open Date
- Fri, 12 Dec 25
- IPO Close Date
- Tue, 16 Dec 25
- Basis of Allotment
- Wed, 17 Dec 25
- Initiation of Refunds
- Thu, 18 Dec 25
- Credit of Shares to Demat
- Thu, 18 Dec 25
- Listing Date
- Fri, 19 Dec 25 — NSE & BSE
Open Date
12 December 2025
Close Date
16 December 2025
Basis Of Allotment
17 December 2025
Listing Date
19 December 2025
IPO Subscription
Check Live Subscription →The Exim Routes IPO has received bids for 5,06,32,000 shares against 33,08,800 shares offered, resulting in an overall subscription of 15.3x. the NII category is subscribed 22.78x, Retail Investors 9.94x, and QIBs 19.11x. Within the NII category, BNII is subscribed 28.27x, while SNII is subscribed 12.02x.
QIB
19.11x
NII
22.78x
BNII
28.27x
SNII
12.02x
RII
9.94x
Total
15.3x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 16,57,600 shares, representing 0% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 9,40,800 shares (0%), while Non-Institutional Investors (NIIs) receive 7,10,400 shares (0%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 940,800 | 0% |
| Non-Institutional | 710,400 | 0% |
| BNII | 470,400 | 0% |
| SNII | 240,000 | 0% |
| Retail Investors | 1,657,600 | 0% |
| Total | 3,308,800 | 100% |
Financials Details(₹ in Crores)
| Particular | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 50.97 | 47.62 | 20.53 | 6.63 |
| Revenue | 44.17 | 120.99 | 72.39 | 36.46 |
| Profit After Tax | 1.17 | 7.56 | 4.2 | 0.37 |
| Net Worth | 16.38 | 15.6 | 1.18 | 0.56 |
| Reserve & Surplus | 15.71 | 14.41 | 3.58 | 0.53 |
| Total Borrowings | 5.1 | 2.75 | 1.46 | 2.86 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Exim Routes Limited KPI Information
| Particular | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|
| ROE % | 42.28 | 71.48 | 68.97 |
| ROCE % | 26.81 | 33.71 | 11.71 |
| Debt / Equity | 0.18 | 1.24 | 5.12 |
| RoNW % | 42.28 | 71.48 | 68.97 |
| Pat Margin % | 18.52 | 11.91 | 2.38 |
Peers Comparison
No Peer Comparision Available
About Exim Routes Limited
Exim Routes Limited, incorporated in April 2019, is a global platform specializing in the exchange of recyclable materials, primarily wastepaper. The Company provides end-to-end solutions to Indian paper mills, covering global sourcing, quality assurance, logistics management, and trade execution.
Exim Routes operates through a group structure with Exim Routes Limited (India) as the parent company and multiple foreign subsidiaries. The Company has a multinational footprint, with a strong presence in India and Singapore, along with subsidiaries in the USA, UK, Germany, and South Africa.
At the core of its operations is ERIS, a proprietary AI-powered B2B platform that connects buyers and sellers of recyclable paper worldwide. ERIS streamlines procurement, automates supply-chain processes, and enhances delivery coordination, enabling efficient cross-border trade in recyclables.
Exim Routes follows a tech-enabled trading model, sourcing wastepaper from global markets and supplying it to mills across India, while managing logistics and compliance throughout the transaction lifecycle. In addition to paper, the Company is also focused on facilitating the trade of metal scrap and other recyclable materials.
With its combination of a global network and a technology-driven approach, Exim Routes aims to simplify and modernize the recyclables trade ecosystem.
As of November 30, 2025, the Company employs 18 people.
Exim Routes IPO Promoters
- Mr. Manish Goyal
- Mr. Govind Rai Garg
Promoters Holding
Holding Pre Issue
71.35%
Holding Post Issue
52.44%
Exim Routes IPO Objective
The Company Exim Routes IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- To meet out the expenses for Development and Maintenance of the ERIS platform
- To meet out the expenses for Working Capital to fund business growth
- To meet out the expenses for Investment in Office space to accommodate new hires
- General Corporate Purposes
Exim Routes Limited Address / Contact Details
Exim Routes Ltd.
Unit No 421, 4th Floor,
Suncity Success Tower,Golf Course Extension Road,
Sector 65,Gurgaon, Haryana, 122101
Phone: +91 95602 71761
Email: cs.er@eximroutes.in
Website: https://eximroutes.ai/
IPO Snapshot
Exim Routes IPO Lot Size
The Exim Routes IPO has a lot size of 1,600 shares. Retail investors require a minimum investment of ₹2,81,600 by applying for 2 lot (3,200 shares). The maximum application allowed for the retail category is 2 lots (3,200 shares), requiring an investment of ₹2,81,600.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | 281,600.00 |
| Retail (Max) | 2 | 3,200 | 281,600.00 |
| S-HNI (Min) | 3 | 4,800 | 422,400.00 |
| S-HNI (Max) | 7 | 11,200 | 985,600.00 |
| B-HNI (Min) | 8 | 12,800 | 1,126,400.00 |
Issue Reservation
Book Running Lead Managers
- Narnolia Financial Services
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Exim Routes IPO?
Exim Routes IPO is a Book-building IPO with a total issue size of ₹43.73 crore. The Exim Routes IPO price band is ₹83 to 88 per share. The Exim Routes IPO subscription opens on Fri, Dec 12, 2025, and closes on Tue, Dec 16, 2025. The Exim Routes IPO will be listed on the NSE. Maashitla Securities Pvt. Limited is the registrar for the Exim Routes IPO.
When will the Exim Routes IPO open for subscription?
The Exim Routes IPO opens on Fri, Dec 12, 2025 and closes on Tue, Dec 16, 2025
What is Exim Routes IPO Price Band?
Exim Routes IPO Price Band is ₹83 to 88 per share.
What is Exim Routes IPO Lot Size?
Exim Routes IPO lot size is 1600 shares, Retail investors need a minimum investment of ₹281600 based on the upper price band
What is the minimum investment for Exim Routes IPO?
The minimum investment for Exim Routes IPO is ₹281600, based on one lot of 1600 shares at the upper price band of ₹88 per share.
How to apply for Exim Routes IPO?
Investors can apply for the Exim Routes IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Tue, Dec 16, 2025. The application amount remains blocked until the Exim Routes IPO allotment is finalized.
What is Exim Routes IPO Issue Size?
Exim Routes IPO issue size is ₹43.73 crores.
What is the Exim Routes IPO Allotment Date?
Exim Routes IPO allotment date is Wed, Dec 17, 2025.
Who is the Exim Routes IPO Registrar?
The registrar for Exim Routes IPO is Maashitla Securities Pvt. Limited. Investors can go to Maashitla Securities Pvt. Limited website to check Exim Routes IPO allotment status, refund processing, and other IPO-related information.
What is the Exim Routes IPO GMP?
The Exim Routes IPO GMP (Grey Market Premium) is ₹32 as of Fri, Dec 19, 2025. Based on the upper price band of ₹88 per share, the estimated Exim Routes IPO listing price is ₹120, indicating a potential listing gain of approximately 36.36% over the issue price.
Who is the Exim Routes IPO Lead Manager?
The book-running lead managers (BRLMs) for the Exim Routes IPO are Narnolia Financial Services. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Exim Routes IPO Red Herring Prospectus (RHP).