IPO

Exim Routes Limited IPO

NSE SME

Listed On: Dec 19, 2025 at ₹ 110.0

₹ 281600 /3200 Shares
*Min Investment

Check Allotment

12 Dec, 2025

Open Date

16 Dec, 2025

Close Date

17 Dec, 2025

Allotment Date

19 Dec, 2025

Listing Date
Exim Routes IPO Live Subscription Details
View Subscription Details
QIB 19.11x
Individual 9.94x
NIIs 22.78x
BHNI 27.98x
SHNI 12.02x
Individual 9.94x
Total 15.30x
Last updated: 16 Dec 2025, 05:57 PM
Exim Routes IPO Issue Details
  • Issue Price ₹83-88 per equity share
  • Face Value ₹5 Per Equity Share
  • Total Issue Size 49,69,600 shares(aggregating up to ₹43.73 crore)
  • Fresh Share 49,69,600 shares(aggregating up to ₹43.73 crore)
  • Listing at NSE SME
  • List Price 110.0
  • Listing Date 2025-12-19
  • Lead Manager Narnolia Financial Services Ltd.
  • Registrar Maashitla Securities Pvt.Ltd.
Market Lot Size

Investors can bid for a minimum of 3200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Individual (min) 2 3200 ₹2,81,600
Individual(max) 2 3200 ₹2,81,600
SHNI(min) 3 4800 ₹4,22,400
SHNI(max) 7 11200 ₹9,85,600
BHNI(min) 8 12800 ₹11,26,400
Exim Routes IPO Reservation

Exim Routes IPO offers total 4969600 shares. Out of which 940800 (18.93%) allocated to QIB, 710400 (14.29%) allocated to NII,1657600 (33.35%) allocated to RII, NA (NA%) allocated to employees and 1411200 (28.4%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 1411200 (28.4%)
Market Maker Shares Offered 249600 (5.02%)
QIB Shares Offered 940800 (18.93%)
NII (HNI) Shares Offered 710400 (14.29%)
bNII > ₹10L 475200 (9.39%)
sNII < ₹10L 240000 (4.85%)
Individual Shares Offered 1657600 (33.35%)
Total Shares Offered 4969600 (100%)
Exim Routes IPO Documents
DRHP
RHP
ANCHOR
Exim Routes IPO Details


Exim Routes Limited IPO is an SME IPO, priced at ₹83-88 per equity share. The equity shares have a face value of ₹5 Per Equity Share each and will be listed on the NSE SME platform. The IPO comprises a total issue of 49,69,600 equity shares, aggregating up to ₹43.73 crores..

The IPO bidding window is open from Dec 12, 2025 to Dec 16, 2025. The allotment is expected to be finalized on Dec 17, 2025, and the tentative listing date is Dec 19, 2025.

The minimum lot size for Individual investors is 3200 shares, with a minimum investment of ₹2,81,600.

Narnolia Financial Services Ltd. is acting as the lead manager to the issue. The registrar of the IPO is Maashitla Securities Pvt.Ltd., and

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Exim Routes IPO Subscription Analysis And Details
Retail
9.94x
QIB
19.11x
NII
22.78x
bNII
27.98x
sNII
12.02x
Total
15.30x
As on QIB NII
bNII   sNII 		Individual Total
Shares Offered / Reserved 9,40,800 7,10,400
4,75,200    2,40,000 		16,57,600 33,08,800
Day 1 12-12-25 05:00 PM
0.00 x 1.21 x
1.45 x   0.71 x 		0.49 x 0.51 x
Day 2 15-12-25 05:00 PM
0.00 x 2.99 x
3.68 x   1.56 x 		1.12 x 1.20 x
Day 3 16-12-25 05:00 PM
19.11 x 22.78 x
27.98 x   12.02 x 		9.94 x 15.30 x
Total No of Applications
6,701
Subscription on the basis of Applications
Retail:9.94x BHNI:9.74x SHNI:11.72x
Exim Routes Valuations
EPS Pre IPO ₹/-
EPS Post IPO ₹/-
ROE 53.14%
ROCE 35.53%
Debt/Equity 0.20
RoNW 42.28%
PAT Margin 6.27%
Price to Book Value 7.77
Market Cap. 165.02 Cr.
Exim Routes Company Financials
In Crs.
In Cr.
30-Jun-25 31-Mar-25 31-Mar-24 31-Mar-23
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 4.20 0.37
Net Worth 16.38 15.60 1.18 0.56
Reserves & Surplus 15.71 14.41 3.58 0.53
Total Borrowing 5.10 2.75 1.46 2.86
About Exim Routes Company

Incorporated in April 2019, Exim Routes Limited is an online intercontinental marketplace that aides in the exchange of recyclable paper material wastes by providing end-to-end services to Indian Paper Mills, right from sourcing waste paper to quality assurance and logistics.

The Company has a group structure, comprising a parent located in India, namely Exim Routes Limited, and foreign subsidiaries.Exim Routes is a global recyclable exchange company focused on facilitating cross-border trade in recyclable materials, with particular emphasis on paper and metal scrap.

Exim Routes provides its own AI-driven B2B platform, called 'ERIS,' which aims to connect recyclable paper buyers and sellers for hassle-free procurement, supply-chain, and delivery.It involves sourcing wastepaper from around the world and supplying to Indian mills, handling logistics and trade coordination across geographies.

Their operations span multiple continents, with a strong presence in India and Singapore, besides the subsidiaries in the USA, UK, Germany, and South Africa.

The company offers comprehensive services such as sourcing, quality assurance, logistics, and trade execution.Exim Routes integrates a global network with a technology-driven methodology to simplify the recyclables trade ecosystem.

As of November 30, 2025, our Company currently employs 18 employees.

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Exim Routes - Promoter(s)

Mr. Manish Goyal

Mr. Govind Rai Garg

Pre Issue Share Holding : 71.35%

Post Issue Share Holding : 52.44%

Exim Routes IPO - Issue Objectives
1

To meet out the expenses for Development and Maintenance of the ERIS platform

2

To meet out the expenses for Working Capital to fund business growth

3

To meet out the expenses for Investment in Office space to accommodate new hires

4

General Corporate Purposes

Contact Details

Exim Routes

Unit No 421, 4th Floor, Suncity Success Tower, Golf Course Extension Road, Sector 65, Gurgaon, Haryana, 122101

+91 95602 71761

cs.er@eximroutes.in

https://eximroutes.ai/

Registrar Contact Details

Maashitla Securities Private Limited

+91-11-45121795-96

Investor.ipo@maashitla.com

https://maashitla.com/allotment-status/public-issues