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EXIMROUTES · NSE · Recycling
Exim Routes IPO listed on 19 Dec 2025 on NSE at ₹110.00, a gain of 25.00% over the issue price of ₹88.00. The IPO was subscribed 11.31x overall.
Exim Routes IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 12 Dec 2025 |
| IPO Close Date | 16 Dec 2025 |
| Basis of Allotment | 17 Dec 2025 |
| Initiation of Refunds | 18 Dec 2025 |
| Credit of Shares to Demat | 18 Dec 2025 |
| Listing Date | 19 Dec 2025 |
Listing day gain
+25%
Listed at ₹110 (issue ₹88)
Issue
₹88
Listing
₹110
Current
₹115.5
+31.25% vs issue
Day range
₹104.5 – ₹115.5
Issue Size
₹43.73 Cr
Issue Price
₹83 – ₹88
Face Value
₹5/share
Market Lot
1,600 shares
Retail Min Investment
₹281,600
Listing At
NSE
Sale Type
fresh issue
Fresh Issue
[.]
Offer for Sale
[.]
Reserved for Market Maker
249,600 shares
(aggregating up to ₹2.20 Cr)
Issue Type
book building
Open Date
12 Dec
Close Date
16 Dec
Allotment
17 Dec
Listing
19 Dec
Last updated: 9 months ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 19 Dec 2025 Latest | ₹88 | ₹32 | ₹120 | ₹32 |
36.36%
|
12:00 PM |
| 18 Dec 2025 | ₹88 | ₹32 | ₹120 | ₹32 |
36.36%
|
12:00 PM |
Showing the 2 most recent GMP entries.
View full GMP historyLatest snapshot: 16 Dec 2025
| Category | Subscribed (x) | No. of Applications |
|---|---|---|
| QIB | 7.64x | 13 |
| NII | 22.78x | 1,541 |
| bNII (bids above ₹10L) | 28.27x | 955 |
| sNII (bids below ₹10L) | 12.02x | 586 |
| Retail Investors | - | 562 |
| Individual Investors | 9.94x | 5,148 |
| Total | 11.31x | 8,805 |
Showing the latest subscription snapshot.
View full subscription historyNew to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | ₹281,600 |
| Retail (Max) | 2 | 3,200 | ₹281,600 |
| S-HNI (Min) | 3 | 4,800 | ₹422,400 |
| S-HNI (Max) | 7 | 11,200 | ₹985,600 |
| B-HNI (Min) | 8 | 12,800 | ₹1,126,400 |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| QIB Shares Offered | 2,352,000 (47.33%) |
|
•
Anchor Investor Shares Offered
|
1,411,200 (28.40%) |
|
•
QIB (Ex. Anchor) Shares Offered
|
940,800 (18.93%) |
| NII (HNI) Shares Offered | 710,400 (14.30%) |
|
•
bNII > ₹10L
|
470,400 (9.47%) |
|
•
sNII < ₹10L
|
240,000 (4.83%) |
| Retail Shares Offered | 1,657,600 (33.35%) |
| Market Maker Shares Offered | 249,600 (5.02%) |
| Total Shares Offered | 4,969,600 (100.00%) |
Exim Routes Limited is a global intermediary in the recyclable paper supply chain, sourcing waste paper from over 15 countries via foreign subsidiaries (e.g., in USA, Singapore, UK, Germany, South Africa) to comply with Indian regulations, and providing end-to-end services like quality assurance, logistics, and procurement to 50+ Indian paper mills. It operates the AI-powered B2B platform ERIS (Exim Routes Intelligence System) for inventory matching, demand forecasting, price prediction, business intelligence, and subscription-based revenue. The company has diversified into metals, batteries, e-waste trading, logistics, and consultancy.
Growth:
Consolidated revenue grew from ₹3,644.58 lakhs (FY2023) to ₹7,185.90 lakhs (FY2024) and ₹12,066.99 lakhs (FY2025); PAT increased from ₹37.49 lakhs (FY2023) to ₹420.33 lakhs (FY2024) and ₹756.28 lakhs (FY2025). ERIS subscriptions generated ₹75 lakhs in FY2025, with high-seas sales up significantly.
Key Strengths:
AI-driven ERIS for supply chain optimisation and real-time data; global network with 100+ yards/mills; sustainability focus (circular economy, traceability); regulatory compliance via subsidiaries; promoter expertise (Manish Goyal: 16+ years in paper engineering); awards like Indian Achievers’ Award 2022.
The basis of allotment for Exim Routes IPO was finalised on 17 Dec 2025. You can check your allotment status using your PAN number or application number on the Maashitla Securities Pvt. ltd. portal or BSE.
The Exim Routes IPO is expected to open in Dec 2025, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for Exim Routes IPO is ₹83.00 - ₹88.00 per share.
As per market sources, Exim Routes IPO GMP is currently ₹32.00. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for Exim Routes IPO stands at 11.31x overall.
The listing date for Exim Routes IPO is 19 Dec 2025.
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