Exim Routes IPO Details
| IPO Open Date | December 12, 2025 |
| IPO Close Date | December 16, 2025 |
| Face Value | ₹5 Per Equity Share |
| IPO Price Band | ₹83 to ₹88 Per Share |
| Issue Size | Approx ₹43.73 Crores |
| Fresh Issue | Approx ₹43.73 Crores |
| Issue Type | Book Build Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Exim Routes IPO Review & Key Points
- Review:
Exim Routes IPO Market Lot
The Exim Routes IPO minimum market lot is 3,200 shares with ₹2,81,600 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 3,200 | ₹2,81,600 |
| Retail Maximum | 2 | 3,200 | ₹2,81,600 |
| S-HNI Minimum | 3 | 4,800 | ₹4,22,400 |
| S-HNI Maximum | 7 | 11,200 | ₹9,85,600 |
| B-HNI Minimum | 8 | 12,800 | ₹11,26,400 |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 14,11,200 Shares | 28.40% |
| QIB (Ex. Anchor) | 9,40,800 Shares | 18.93% |
| NII Shares Offered | 7,10,400 Shares | 14.29% |
| Retail Shares Offered | 16,57,600 Shares | 33.35% |
Exim Routes IPO Anchor Investors
| Anchor Bidding Date | December 11, 2025 |
| Anchor Investors List | |
| Shares Offered | 14,11,200 Shares |
| Anchor Size | [.] Cr. |
| lock-in period end date 50% shares (30 Days) | January 18, 2026 |
| lock-in period end date 50% shares (90 Days) | March 17, 2026 |
Exim Routes IPO Dates
The Exim Routes IPO date is December 12 and the close date is December 16. The Exim Routes IPO allotment will be finalized on December 17 and the IPO listing on December 19.
| IPO Open Date: | December 12, 2025 |
| IPO Close Date: | December 16, 2025 |
| Basis of Allotment: | December 17, 2025 |
| Refunds: | December 18, 2025 |
| Credit to Demat Account: | December 18, 2025 |
| IPO Listing Date: | December 19, 2025 |
| IPO Bidding Cut-off Time: | December 16, 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Mr. Manish Goyal and Mr. Govind Rai Garg.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,37,82,400 | 71.35% |
| Promoter Holding Post Issue | 1,87,52,000 | 52.44% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| To meet out the expenses for Development and Maintenance of the ERIS platform | ₹11.87 |
| To meet out the expenses for Working Capital to fund business growth | ₹9.00 |
| To meet out the expenses for Investment in Office space to accommodate new hires | ₹7.13 |
| General Corporate Purpose | ₹- |
About Exim Routes IPO
Exim Routes Limited has been one of the leading companies since its establishment in April 2019. The company has been working to help Indian Paper Mills by providing them with recyclable paper, ensuring quality, and handling logistics. Its recycling papers include white grades (like office paper and tissue), brown grades (like OCC and mixed paper), and mechanical grades (like newspapers and magazines).
To run its business smoothly, the company has created the Exim Routes Intelligence System (ERIS), an AI-powered B2B platform that handles 4 main functions, which are offer matching, market intelligence, customer enablement, and logistics integration. ERIS manages 100+ international yards and 50+ Indian mills across 15+ countries. Moreover, the company includes 18 employees as of June 30, 2025.
Exim Routes IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹36.46 | ₹35.97 | ₹0.37 | ₹6.63 |
| 2024 | ₹72.39 | ₹67.56 | ₹4.20 | ₹20.53 |
| 2025 | ₹120.99 | ₹111.21 | ₹7.56 | ₹47.62 |
| June 2025 | ₹44.17 | ₹42.60 | ₹1.17 | ₹50.97 |
Exim Routes IPO Valuation – FY2025
Check Exim Routes IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 53.14% |
| ROCE: | 35.53% |
| EBITDA Margin: | 8.24% |
| PAT Margin: | 6.27% |
| Debt to equity ratio: | 0.20 |
| Earning Per Share (EPS): | ₹2.75 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 42.28% |
| Net Asset Value (NAV): | ₹11.32 |
Peer Group Comparison
- There are no comparable listed peer companies.
IPO Lead Managers aka Merchant Bankers
- Narnolia Financial Services Ltd.
Company Address
Exim Routes Limited
Unit No 421, 4th Floor, Suncity Success
Tower, Golf Course Extension Road, Sector
65, Gurugram, Haryana 122101, India
Email: [email protected]
Phone No. +91 95602 71761
Website: https://eximroutes.ai/
IPO Registrar
Maashitla Securities Pvt.Ltd.
Phone: +91-11-45121795-96
Email: [email protected]
Website: https://maashitla.com/allotment-status/public-issues
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Note: The Exim Routes IPO price band and date are officially announced. The (Exim Routes IPO grey market premium) will be added to the IPO GMP page as it will start).
