Exim Routes Limited Link 
Allotment
Exim Routes has launched its IPO as a book-built issue aggregating ₹43.73 crore, consisting entirely of a fresh issue of 0.50 crore equity shares. No offer for sale is included in this issue.
The IPO opened for subscription on December 12, 2025, and closed on December 16, 2025. The basis of allotment was finalized on December 17, 2025, while the company is expected to make its debut on the NSE SME platform on December 19, 2025.
The price band for the Exim Routes IPO is fixed at ₹88 per share. Investors can apply in a minimum lot size of 1,600 shares. For retail investors, the minimum investment amount is ₹2,81,600, calculated at the upper price band for 3,200 shares. High Net-worth Individuals (HNIs) are required to apply for at least three lots, totaling 4,800 shares, with a minimum investment of ₹4,22,400.
Narnolia Financial Services Ltd. is acting as the Book Running Lead Manager for the issue, while Maashitla Securities Private Limited has been appointed as the Registrar. The Market Maker for the IPO is Nikunj Stock Brokers Ltd.
₹88
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Open
₹88
HIgh - Low
₹88
Previous Close
₹88
Total Traded Value
0
52 Weeks High
₹88
52 Weeks Low
₹88
Updates On
Dec 5, 2025
IPO. Open
Dec 12, 2026
IPO. Close
Dec 16, 2026
IPO. Price
₹88.00
IPO Market price
₹165.02 Cr
IPO Details
| IPO Date | 19 Dec |
| IPO Listing Date | 19 Dec |
| IPO Face Value | ₹5 per share |
| IPO Price Range | ₹88.00 |
| IPO Issue Size | 49,69,600 shares |
| IPO Sale Type | Fresh Capital |
| Employee Discount | - |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | NSE SME Platform |
| Share Holding Pre Issue | 1,37,82,400 shares |
IPO Timeline
| IPO Open Date | 12 Dec |
| IPO Close Date | 16 Dec |
| IPO Allotment (Tentative) | 17 Dec |
| Refunds | 18 Dec |
| Credit to Demat Account | 18 Dec |
| IPO Listing Date | 19 Dec |
IPO Reservation
| Category | Offer |
|---|---|
| QIB Shares Offered | 23,52,000 (47.33%) Shares |
| NII (HNI) Shares Offered | 7,10,400 (14.29%) Shares |
| Retail Shares Offered | 16,57,600 (33.35%) Shares |
IPO Lot Size
Investors can bid for a minimum of 3,200 shares, and in multiples of 1,600 shares thereafter.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3200 | ₹2,81,600 |
| Retail (Max) | 2 | 3200 | ₹2,81,600 |
| S-HNI (Min) | 3 | 4,800 | ₹4,22,400 |
| S-HNI (Max) | 7 | 11200 | ₹9,85,600 |
| B-HNI (Min) | 8 | 12800 | ₹11,26,400 |
Incorporated in April 2019, Exim Routes Limited operates as a global recyclable materials exchange, primarily serving Indian paper mills. The company provides end-to-end solutions, covering the sourcing of waste paper, quality checks, logistics management, and trade execution, enabling mills to access a steady and reliable supply of recyclable materials.
Exim Routes functions through a group structure, with its Indian parent company supported by overseas subsidiaries. Its operations span multiple regions, including India, Singapore, the USA, the UK, Germany, and South Africa, giving it access to international sourcing markets.
The company leverages its AI-powered B2B platform, ERIS, to connect global suppliers with buyers, streamlining procurement, supply chain coordination, and delivery processes. By combining a technology-driven approach with a strong global network, Exim Routes simplifies cross-border trade in recyclable paper.
As of November 30, 2025, the company employed 18 professionals and continues to focus on meeting the growing demand of Indian paper manufacturers.
Company Financials (Consolidated)
| Assets | 50.97 | 47.62 | 20.53 |
| Total Income | 44.17 | 120.99 | 72.39 |
| Profit After Tax | 1.17 | 7.56 | 4.2 |
| EBITDA | 1.39 | 9.95 | 4.58 |
| NET Worth | 16.38 | 15.6 | 1.18 |
| Reserves and Surplus | 15.71 | 14.41 | 3.58 |
| Total Borrowing | 5.1 | 2.75 | 1.46 |
Key Performance Indicator (KPI)
| ROE | 53% |
| ROCE | 36% |
| Debt/Equity | 0.2 |
| RoNW | 42.28% |
| PAT Margin | 6.27% |
| EBITDA Margin | 8.24% |
| Price to Book Value | 7.77 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | - |
| 2 | To meet out the expenses of Working Capital Requirement | - |
| 3 | To meet out the General Corporate Purposes; | 6.54 |
| 4 | Offer for Sale (OFS) | - |
Contact Details
Exim Routes Limited
Unit No 421, 4th Floor, Suncity Success
Tower, Golf Course Extension Road, Sector
65, Gurugram, Haryana 122101, India
Email: cs.er@eximroutes.in
Phone No. +91 95602 71761
Website: https://eximroutes.ai/
Detail Registrar
IPO Registrar
Maashitla Securities Pvt.Ltd.
Phone: +91-11-45121795-96
Email: contact@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
The Exim Routes IPO is priced at ₹88 per share. The minimum lot size for retail investors is 3,200 shares, with a minimum investment of ₹2,81,600.
The IPO opened on 12th December 2025 and closed on 16th December 2025. The allotment was finalized on 17th December 2025.
The IPO proceeds will fund ERIS platform development (₹11.87 crore), working capital (₹9 crore), office expansion (₹7.13 crore), and general corporate purposes (₹6.54 crore).
Exim Routes shares are set to list on the NSE SME platform. The tentative listing date is 19th December 2025 after allotment and credit of shares to Demat accounts.
Exim Routes operates a global recyclable materials exchange with an AI-powered platform, ERIS, offering reliable sourcing, logistics, and trade solutions for Indian paper mills.
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