The Exim Routes IPO opening date is December 12, 2025, and the IPO will close on December 16, 2025. The Exim Routes IPO is a book-building issue. The company will raise approximately ₹43.73 crore through the IPO, which includes a fresh issue of ₹43.73 crore and an offer for sale of up to [.] equity shares with a face value of ₹5.
The price band for the Exim Routes IPO is ₹83 to ₹88 per share. The retail quota is 35%, QIB 50%, and HNI 15%. The Exim Routes IPO will be listed on the NSE on December 19, 2025. The allotment date for the Exim Routes IPO is December 17, 2025.
The company reported revenue of ₹120.99 crore in 2025, compared to ₹72.39 crore in 2024. The company reported a profit of ₹7.56 crore in 2025, compared to ₹4.20 crore in 2024. According to financials, IPO investors should apply for the long term.
About the Exim Roots IPO
Exim Roots Limited has been a leading company since its launch in April 2019. The company supports Indian paper mills by providing recycled paper, ensuring quality, and managing logistics. Its recycled paper includes white grades (such as office paper and tissue), brown grades (such as OCC and mixed paper), and mechanical grades (such as newspapers and magazines).
To streamline its business, the company has built the Exim Roots Intelligence System (ERIS), an AI-powered B2B platform that performs four key functions: offer matching, market intelligence, customer enablement, and logistics integration. ERIS manages 100+ international yards and 50+ Indian mills in 15+ countries. Additionally, the company has 18 employees as of June 30, 2025.
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.
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 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 | ₹- |
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 |