Exim Routes Limited
Bookbuilding IPO · NSE
- Price band
- ₹83 - ₹88
- Lot size
- 1,600 shares
- Issue amount
- ₹43.73 cr
- Total subscription
- 15.3×
- Opens
- 12 Dec 2025
- Closes
- 16 Dec 2025
- Allotment
- 17 Dec 2025
- Listing
- 19 Dec 2025
Offer at a glance
Issue overview
- Issue size
- 49,69,600 shares
- Face value
- ₹5 per share
- Minimum investment
- ₹1,32,800
- Fresh issue
- ₹43.73 cr
- Offer for sale
- ₹0 cr
- Registrar
- Maashitla Securities Private Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,40,800
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,37,82,400
- Shares after issue
- 1,87,52,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 3,200 | ₹2,81,600 |
| sHNI | 3 | 4,800 | ₹4,22,400 |
| bHNI | 8 | 12,800 | ₹11,26,400 |
Share reservation
Subscription & GMP
Subscription by category
Reported 16 Dec 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 13 |
| NIB | 0 | 1,541 |
| RETAIL | 518 | 5,148 |
| HNIs(10L +) | 98 | 955 |
| HNIs (2-10L) | 50 | 586 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 8.28 | 158.2 |
| FIIs | 0 | 39.24 |
| Others | 0 | 118.96 |
| RETAIL | 14.59 | 144.97 |
| HNIs 2+ | 2.11 | 25.39 |
| HNIs 10+ | 4.14 | 117 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Jun-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 0.57 | 2.75 | 0.52 | 0.25 |
| ROE | 4.89 | 42.28 | 71.48 | 68.97 |
| ROCE | 5.47 | 26.81 | 33.71 | 11.71 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 16.04 | 0 | 0 |
| POST IPO(PE) | 35.18 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Incorporated in April 2019, Exim Routes Limited is a global recyclable exchange company that facilitates cross-border trade of recyclable materials—primarily paper and metal scrap—by providing end-to-end services to Indian Paper Mills, including sourcing, quality assurance, logistics, and trade execution. Operating through a group structure with its Indian parent and foreign subsidiaries in Singapore, the USA, UK, Germany, and South Africa, the company leverages its AI-powered B2B platform, ERIS (Exim Routes Intelligence System), to connect suppliers and buyers, streamline supply chain management, and enable seamless global trading. With a worldwide presence and a technology-driven approach that simplifies the recyclables ecosystem, Exim Routes continues to expand its role in sustainable trade, supported by a team of 18 employees as of June 30, 2025.
Strengths
- Strong Technical Foundation in Paper Industry – Founded by an IIT Roorkee paper engineer with 16 years of industry experience, supported by a leadership team of paper and polymer engineering experts.
- Seasoned and Multi-Skilled Leadership Team – Management and advisors bring wide experience across strategy, operations, finance, and commodities from global firms like EY, Amazon, P&G, McKinsey, and BCG.
- In-House AI-Powered Digital Platform – The company’s proprietary ERIS platform uses AI to improve inventory matching, price discovery, market insights, communication, and global logistics execution.
Risk factors
- Risk of Technology Becoming Outdated – Heavy dependence on the ERIS platform means delays in upgrades or innovation could reduce system efficiency, user engagement, and revenue potential.
- High Dependence on Recyclable Paper Trading – A large share of revenue comes from recyclable paper business with Indian mills, so losing key clients or slow client addition can impact growth and performance.
- Cyclical Nature of Recyclable Paper Market – Demand and prices fluctuate due to global economic cycles, which can cause revenue instability and pressure on profit margins during weak market phases.
Promoters
Mr. Manish Goyal
Mr. Govind Rai Garg
Registrar & documents
Lead manager
Narnolia Financial Services Limited
Registrar & contacts
Maashitla Securities Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Unit No 421, 4th Floor, Suncity Success Tower, Golf Course Extension Road, Sector 65, Gurgaon, Haryana, 122101
+91 95602 71761
[email protected]Company website ↗Understanding EXIMROUTES IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.