Exim Routes IPO
IPO Listing Details
- Listing Date
19 Dec 2025
- Listing Price
₹ 110.00
- Listing Change
25.00%
- Last Traded Price
₹ 196.60
Exim Routes IPO Details
-
Open Date
12 Dec 2025
-
Close Date
16 Dec 2025
-
Listing Date
19 Dec 2025
- IPO Price Range
₹ 83 to ₹88
- IPO Size
₹ 43.73 Cr
- Listing Exchange
NSE SME
Exim Routes IPO Timeline
Exim Routes IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 12-Dec-2025 | 0.00 | 1.21 | 0.50 | 0.51 |
| 15-Dec-2025 | 0.00 | 2.64 | 1.12 | 1.13 |
| 16-Dec-2025 | 19.11 | 22.43 | 9.94 | 15.23 |
Last Updated: 18 December 2025 2:14 PM by 5paisa
Exim Routes Ltd is a global B2B platform facilitating the exchange of recyclable paper materials, primarily serving Indian paper mills. Exim Routes specialises in end-to-end sourcing, procurement, quality assurance, logistics, and trade execution for recyclable paper, leveraging its AI-powered platform, ERIS, to optimize inventory, pricing, and supply chain operations. The DRHP highlights its global network, robust financials, and a business model designed for sustainable growth and technological innovation in the circular economy.
Established in: 2019
Managing Director: Manish Goyal
Exim Routes Objectives
1. To meet out the expenses for Development and Maintenance of the ERIS platform (₹14.5 Cr)
2. To meet out the expenses for Working Capital to fund business growth (₹9 Cr)
3. To meet out the expenses for Investment in Office space to accommodate new hires (₹7.13 Cr)
4. General Corporate Purposes
Exim Routes Ltd IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹43.73 Cr |
| Offer For Sale | - |
| Fresh Issue | ₹43.73 Cr |
Exim Routes Ltd IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | 2,65,600 |
| Retail (Max) | 2 | 3,200 | 2,81,600 |
| S-HNI (Min) | 3 | 4,800 | 3,98,400 |
| S-HNI (MAX) | 7 | 11,200 | 9,85,600 |
| B-HNI (Min) | 8 | 12,800 | 11,26,400 |
Exim Routes Ltd IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 19.11 | 9,40,800 | 1,79,77,600 | 158.203 |
| Non-Institutional Buyers | 22.43 | 7,10,400 | 1,59,31,200 | 140.195 |
| bNII (bids above ₹10L) | 27.73 | 4,70,400 | 1,30,46,400 | 114.808 |
| sNII (bids below ₹10L) | 12.02 | 2,40,000 | 28,84,800 | 25.386 |
| Individual Investors (IND category bidding for 2 Lots) | 9.94 | 16,57,600 | 1,64,70,400 | 144.940 |
| Total** | 15.23 | 33,08,800 | 5,03,79,200 | 443.337 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Revenue | 12.74 | 5.23 | 19.15 |
| EBITDA | 0.53 | 1.15 | 4.91 |
| PAT | 0.30 | 0.62 | 3.55 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Total Assets | 6.63 | 20.53 | 47.62 |
| Share Capital | 0.1 | 0.1 | 6.89 |
| Total Liabilities | 6.63 | 20.53 | 47.62 |
| Cash Flows (₹ Crores) | FY23 | FY24 | FY25 |
| Net Cash Generated From / (used in) Operating Activities | 0.08 | -1.17 | -4.88 |
| Net Cash Generated From / (used in) Investing Activities | -0.95 | -0.53 | -4.11 |
| Net Cash Generated From / (used in) Financing Activities | 1.37 | 1.75 | 10.8 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 0.50 | 0.05 | 1.81 |
Strengths
1. The company has demonstrated strong revenue and profit growth over the last year.
2. Its asset-light, technology-driven model uses AI for efficient sourcing and logistics.
3. High return ratios and a low debt-to-equity ratio reflect sound financial health.
4. Promoter holding is substantial, and financial reporting is transparent.
Weaknesses
1. The business relies heavily on international suppliers, exposing it to global market volatility.
2. Brand recognition is limited compared to larger competitors.
3. The SME platform listing may attract fewer institutional investors.
4. The IPO size and market capitalization are relatively small.
Opportunities
1. Demand for sustainable and recycled paper products is growing globally.
2. The company can expand using its digital platform and AI-powered supply chain.
3. There is potential for growth through ESG and circular economy initiatives.
4. Strategic partnerships with paper mills and suppliers offer expansion opportunities.
Threats
1. Competition from established players in the recyclables sector is intense.
2. Regulatory changes may affect import and export of recyclable materials.
3. Economic downturns could reduce global trade and demand.
4. Currency fluctuations may impact profitability from international transactions.
1. Exim Routes Ltd shows strong revenue and profit growth with high return ratios.
2. Its AI-driven, asset-light model ensures efficient operations and scalability.
3. Rising global demand for recycled paper supports long-term growth.
4. Transparent reporting and solid promoter holding add stability.
Exim Routes Ltd’s IPO enters a landscape of growing demand for sustainable paper products, with strong growth potential driven by its AI-powered B2B platform and global network. The company’s asset-light model and robust financials position it well for expansion in the circular economy. Increasing ESG focus and digital transformation in the industry further support its long-term growth prospects, making it an attractive opportunity for investors seeking exposure to sustainable and tech-driven businesses.
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FAQs
Exim Routes Ltd IPO opens from December 12, 2025 to December 16, 2025.
The size of Exim Routes Ltd IPO is ₹43.73 Cr.
The price band of Exim Routes Ltd IPO is fixed at ₹83 to ₹88 per share.
To apply for Exim Routes Ltd IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Exim Routes Ltd IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Exim Routes Ltd IPO is of 3,200 shares and the investment required is ₹2,81,600.
The share allotment date of Exim Routes Ltd IPO is December 17, 2025
The Exim Routes Ltd IPO will likely be listed on 19 December 2025.
Narnolia Financial Services Limited is the book running lead manager for Exim Routes Ltd IPO.
Exim Routes Ltd IPO plans to utilise the raised capital from the IPO for:
1. To meet out the expenses for Development and Maintenance of the ERIS platform (₹14.5 Cr)
2. To meet out the expenses for Working Capital to fund business growth (₹9 Cr)
3. To meet out the expenses for Investment in Office space to accommodate new hires (₹7.13 Cr)
4. General Corporate Purposes
