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Exim Routes IPO

Live Updates, GMP, Subscription Data, and Financial Details

IPO Overview

Listed
Dates Dec 12 to Dec 16 2025
Price Band ₹83 - 88
Current GMP ₹110.0 (+25%)
Subscription 15.23 times

IPO Details

IPO Date
12 to 16 Dec, 2025
Listing Date
Fri, Dec 19, 2025
Face Value
₹ 5 per share
Price Band
₹83 to ₹88
Issue Price
₹88 per share
Lot Size
1,600 Shares
Sale Type
Fresh Capital
Issue Type
Bookbuilding IPO
Listing At
NSE SME
Total Issue Size
49,69,600 shares (agg. up to ₹ 43.73 Cr)
Reserved for Market Maker
2,49,600 shares (agg. up to ₹ 2.20 Cr) Nikunj Stock Brokers Ltd.
Net Offered to Public
47,20,000 shares (agg. up to ₹ 41.54 Cr)
Share Holding Pre Issue
1,37,82,400 shares
Share Holding Post Issue
1,87,52,000 shares
NSE Symbol
EXIMROUTES
ISIN
INE19I001020

IPO Subscription Details

Anchor Investors
1
Market Maker
1
QIB (Ex Anchor)
19.11
Non-Institutional Buyers***
22.43
bNII (bids above ₹10L)
27.73
sNII (bids below ₹10L)
12.02
Individual Investors
9.94
Total **
15.23

Day Wise Sub

DayDay 1 Dec 12, 2025
QIB (Ex Anchor)0.00
NII*1.21
NII (> ₹10L)1.47
NII (< ₹10L)0.71
Individual Investors0.50
Total0.51
DayDay 2 Dec 15, 2025
QIB (Ex Anchor)0.00
NII*2.64
NII (> ₹10L)3.19
NII (< ₹10L)1.56
Individual Investors1.13
Total1.13
DayDay 3 Dec 16, 2025
QIB (Ex Anchor)19.11
NII*22.43
NII (> ₹10L)27.73
NII (< ₹10L)12.02
Individual Investors9.94
Total15.23

Day Wise GMP

Date19-12-2025
Price88.00
GMP32(36.36%)
Estimate List Price120
Date18-12-2025
Price88.00
GMP32(36.36%)
Estimate List Price120
Date17-12-2025
Price88.00
GMP18(20.45%)
Estimate List Price106
Date16-12-2025
Price88.00
GMP3(3.41%)
Estimate List Price91
Date15-12-2025
Price88.00
GMP6(6.82%)
Estimate List Price94
Date14-12-2025
Price88.00
GMP0(0.00%)
Estimate List Price88
Date13-12-2025
Price88.00
GMP0(0.00%)
Estimate List Price88
Date12-12-2025
Price88.00
GMP0(0.00%)
Estimate List Price88
Date11-12-2025
Price88.00
GMP9(10.23%)
Estimate List Price97
Date10-12-2025
Price88.00
GMP6(6.82%)
Estimate List Price94

IPO Important Dates

IPO Open Date
Fri, Dec 12, 2025
IPO Close Date
Tue, Dec 16, 2025
Tentative Allotment
Wed, Dec 17, 2025
Initiation of Refunds
Thu, Dec 18, 2025
Credit of Shares to Demat
Thu, Dec 18, 2025
Tentative Listing Date
Fri, Dec 19, 2025
Cut-off time for UPI mandate confirmation
5 PM on Tue, Dec 16, 2025

IPO Lot Size

ApplicationIndividual investors (Retail) (Min)
Lots2
Shares3,200
Amount₹2,81,600
ApplicationIndividual investors (Retail) (Max)
Lots2
Shares3,200
Amount₹2,81,600
ApplicationS-HNI (Min)
Lots3
Shares4,800
Amount₹4,22,400
ApplicationS-HNI (Max)
Lots7
Shares11,200
Amount₹9,85,600
ApplicationB-HNI (Min)
Lots8
Shares12,800
Amount₹11,26,400

Key Performance Indicator

ROE
53.14%
ROCE
35.53%
Debt/Equity
0.20
RoNW
42.28%
PAT Margin
6.27%
EBITDA Margin
8.24%
Price to Book Value
7.77

Peers Comparison

Company NameExim Routes Ltd.
EPS (Basic)0.57
EPS (Diluted)0.57
NAV (per share) (Rs)11.89
P/E (x)16.04
RoNW (%)42.28
P/BV Ratio8.00

IPO Reservation

Market Maker Shares Offered
2,49,600 (5.02%)
QIB Shares Offered
23,52,000 (47.33%)
− Anchor Investor Shares Offered
14,11,200 (28.40%)
− QIB (Ex. Anchor) Shares Offered
9,40,800 (18.93%)
NII (HNI) Shares Offered
7,10,400 (14.29%)
− bNII > ₹10L
4,70,400 (9.47%)
− sNII < ₹10L
2,40,000 (4.83%)
Retail Shares Offered
16,57,600 (33.35%)
Total Shares Offered
49,69,600 (100.00%)

Information about company

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, particularly paper and metal scrap. Exim Routes uses its proprietary AI-powered B2B platform (referred to as “ERIS”) to connect buyers and sellers of recyclable paper, streamlining procurement, supply-chain and delivery. Its business model involves sourcing wastepaper globally 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, as well as subsidiaries in the USA, UK, Germany, and South Africa. They offer comprehensive services, including sourcing, quality assurance, logistics, and trade execution. Exim Routes combines a global network with a tech-driven approach to simplify the recyclables trade ecosystem. As of November 30, 2025, our Company has 18 employees. Competitive strengths A globally oriented sourcing network for recyclable paper materials, enabling access to international supply. An AI-enabled B2B platform (ERIS) facilitates efficient buyer-seller matching and transaction coordination. An end-to-end service model including procurement, logistics, and delivery — reducing complexity for Indian paper mills. Experienced promoters and management with expertise in trade, supply chain, and business operations. A business model tailored to meet demand from Indian paper mills seeking a consistent supply of recyclables.

Disclaimer

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