Exim Routes IPO
Exim Routes IPO
Overview
Exim Routes IPO is a book build issue of ₹43.73 crores. The issue is entirely a fresh issue of 0.50 crore shares of ₹43.73 crore. Exim Routes IPO opens for subscription on Dec 12, 2025 and closes on Dec 16, 2025. The allotment for the Exim Routes IPO is expected to be finalized on Dec 17, 2025. Exim Routes IPO will list on NSE SME with a tentative listing date fixed as Dec 19, 2025. Exim Routes IPO price band is set at ₹83.00 to ₹88.00 per share . The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹2,81,600.00 (3,200 shares) (based on upper price). The minimum lot size investment for HNI is 3 lots (4,800 shares), amounting to ₹4,22,400.
Total Shares
49,69,600
Issue Size
₹43.73 Cr
Price Band
₹83 – ₹85
Lot Size
1600 shares
Min. Investment
₹2,72,000
Max. Investment
₹2,72,000
Open Date
12 Dec, 2025
Close Date
16 Dec, 2025
Allotment
17 Dec, 2025
Listing
19 Dec, 2025
Max. Investment
₹2,72,000
Announced
12 Dec, 2025
Opening Date
12 Dec, 2025
Closing Date
16 Dec, 2025
Basis of Allotment
17 Dec, 2025
Initiation of Refunds
18 Dec, 2025
Credit of Shares
18 Dec, 2025
Listing Date
19 Dec, 2025
Live GMP
Est. Listing: ₹91
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About Exim Routes IPO
Incorporated in April 2019, Exim Routes Limited is a global platform that facilitates the exchange of recyclable paper materials, offering end-to-end services to Indian Paper Mills, from sourcing waste paper to quality assurance and logistics.
The Company operates through a group structure, with an Indian parent, Exim Routes Limited, and foreign subsidiaries.
Exim Routes is a global recyclable exchange company focused on facilitating cross-border trade in recyclable materials, par
Exim Routes IPO Share Price
Issue Breakdown
Shareholding
Dilution: 36.1% increase in shares
Exim Routes IPO Financial Health
Exim Routes Ltd.'s revenue increased by 67% and profit after tax (PAT) rose by 80% between the financial year ending with March 31, 2025 and March 31, 2024.
Exim Routes IPO Lot Size
Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3200 | ₹2,72,000 |
| Individual investors (Retail) (Max) | 2 | 3200 | ₹2,72,000 |
| S-HNI (Min) | 3 | 4800 | ₹4,08,000 |
| S-HNI (Max) | 7 | 11200 | ₹9,52,000 |
| B-HNI (Min) | 8 | 12800 | ₹10,88,000 |
(All values in CR)
Exim Routes IPO Valuations
| Metric | Value |
|---|---|
| ROE | 42.28 |
| ROCE | 26.81 |
| Debt/Equity | 0.18 |
| RoNW | 42.28 |
| PAT Margin | 18.52 |
| EBITDA Margin | 8.24 |
| Price to Book Value | 7.77 |
(All values in CR)
Exim Routes IPO Strength & Risk
Exim Routes IPO Strength:
Tech-enabled business model supported by an AI-driven B2B platform for efficient trade matching and logistics.
Strong growth trend in revenue and profitability over recent years.
Global sourcing and buyer network provides geographic diversification.
Healthy financial profile with improving return metrics and low leverage.
IPO funds aimed at technology upgrades, operational expansion, and scaling business activities.
Operates in a niche segment of recyclable materials, which has long-term demand potential.
Exim Routes IPO Risk:
No prior public market history; post-listing liquidity and stability may be uncertain.
Profit margins are relatively thin, making the business sensitive to cost fluctuations.
Sector is influenced by commodity cycles, global market conditions, and regulatory changes.
SME listing carries higher volatility and lower trading liquidity risk.
Execution challenges in scaling a global supply chain and maintaining compliance across countries.
Dependence on international logistics exposes the business to geopolitical and freight-related risks.
Exim Routes IPO Subscriptions Status
Exim Routes IPO subscribed 1.13 times. The public issue subscribed 1.13 times in the individual investors category, 0.00 times in QIB (Ex Anchor), and 2.64 times in the NII category by December 15, 2025 6:40:01 PM (Day 2).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 14,11,200 | 14,11,200 | 12.419 |
| Market Maker | 1.00 | 2,49,600 | 2,49,600 | 2.196 |
| QIB (Ex Anchor) | 0.00 | 9,40,800 | 0 | 0 |
| Non-Institutional Buyers | 2.64 | 7,10,400 | 18,73,600 | 16.488 |
| bNII (bids above ₹10L) | 3.19 | 4,70,399 | 14,99,200 | 13.193 |
| sNII (bids below ₹10L) | 1.56 | 2,40,000 | 3,74,400 | 3.295 |
| Individual Investors | 1.13 | 16,57,600 | 18,65,600 | 16.417 |
| Total | 1.13 | 33,08,800 | 37,39,200 | 32.905 |
Exim Routes IPO GMP
xim Routes SME IPO last GMP is ₹6, last updated Dec 15th 2025 05:57 PM. With the price band of 88.00, Exim Routes SME IPO's estimated listing price is ₹94 (cap price + today's GMP).The expected percentage gain/loss per share is 6.82%. >> Exim Routes SME IPO Retail Subject to Sauda: ₹7300 The lowest GMP is ₹0.00, while the highest GMP is ₹9.00.
Last updated 15 Dec, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 15 Dec, 2025 | 88 | ₹6▲ | 7300 | ₹94 (6.82%) | 9600 | 15 Dec, 2025 |
| 14 Dec, 2025 | 88 | ₹0 | - | ₹88 (0.00%) | - | 14 Dec, 2025 |
| 13 Dec, 2025 | 88 | ₹0 | - | ₹88 (0.00%) | - | 13 Dec, 2025 |
| 12 Dec, 2025 | 88 | ₹0▼ | - | ₹88 (0.00%) | - | 12 Dec, 2025 |
| 11 Dec, 2025 | 88 | ₹9▲ | 10900 | ₹97 (10.23%) | 14400 | 11 Dec, 2025 |
| 10 Dec, 2025 | 88 | ₹6 | 7300 | ₹94 (6.82%) | 9600 | 10 Dec, 2025 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Exim Routes IPO
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Go to IPO Section
Find Exim Routes IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
Enter UPI ID and Submit
Provide your UPI ID linked to your bank account and submit the application.
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Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.