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Subscription Status · Dec 12 – Dec 16, 2025 · ₹83–88
Exim Routes IPO subscribed 11.31 times — as of Dec 16, 2025
The Exim Routes IPO subscription has recorded strong investor demand with an overall subscription of 11.31× as of Dec 16, 2025, indicating that investors applied for 11.31 times the number of shares on offer. All investor categories — institutional, HNI, and retail — have participated actively, making this one of the closely watched IPO openings.
As of December 16, 2025
| Category | Shares Offered | Shares Bid For | Times Subscribed | Applications |
|---|---|---|---|---|
|
QIB
Qualified Institutional Buyers
|
2,352,000 | 17,977,600 |
7.64×
|
13 |
|
NII
Non-Institutional Investors
|
710,400 | 16,180,800 |
22.78×
|
1,541 |
|
bNII
Bids above ₹10L
|
470,400 | 13,296,000 |
28.27×
|
955 |
|
sNII
Bids below ₹10L
|
240,000 | 2,884,800 |
12.02×
|
586 |
|
Retail
Retail Individual Investors
|
— | 2,769,600 | — | 562 |
|
Individual
Individual Investors
|
1,657,600 | 16,473,600 |
9.94×
|
5,148 |
|
Total
|
4,720,000 | 53,401,600 |
11.31×
|
8,805 |
How subscription built up across investor categories over time
Snapshot of each day's bidding activity
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 2,352,000 | 17,977,600 | 7.64× | 13 |
| NII | 710,400 | 16,180,800 | 22.78× | 1,541 |
| bNII | 470,400 | 13,296,000 | 28.27× | 955 |
| sNII | 240,000 | 2,884,800 | 12.02× | 586 |
| Retail | — | 2,769,600 | — | 562 |
| Individual Investors | 1,657,600 | 16,473,600 | 9.94× | 5,148 |
| Total | 4,720,000 | 53,401,600 | 11.31× | 8,805 |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 2,352,000 | 1,411,200 | 0.60× | — |
| NII | 710,400 | 1,116,800 | 1.57× | 99 |
| bNII | 470,400 | 806,400 | 1.71× | — |
| sNII | 240,000 | 310,400 | 1.29× | — |
| Individual Investors | 1,657,600 | 1,427,200 | 0.86× | 446 |
| Total | 3,062,400 | 2,528,000 | 0.83× | 545 |
As of December 16, 2025, the Exim Routes IPO has been subscribed 11.31 times overall. The IPO is fully subscribed with strong investor demand. A total of 8,805 applications received across all categories.
The Exim Routes IPO subscription window was open from December 12, 2025 to December 16, 2025. Investors could apply through their demat account or ASBA facility.
The Exim Routes IPO has a price band of ₹83 to ₹88 per share, with a lot size of 1,600 shares. Minimum retail investment: ₹132,800 (lower band) or ₹140,800 (upper band).
The QIB category has been subscribed 7.64 times. QIBs were offered 2,352,000 shares.
Overall NII: 22.78×. bNII (>₹10L): 28.27×, sNII (<₹10L): 12.02×. NII includes HNIs and corporate entities investing above ₹2 lakh.
Basis of allotment is on December 17, 2025. Check via the registrar's website — Maashitla Securities Private Limited (SEBI Reg. No.: INR000004370) using your PAN number, application number, or DP/Client ID. You can also check on BSE/NSE websites or through your broker's app.
Exim Routes IPO is expected to list on December 19, 2025. Shares will list on NSE SME platform. Allotted shares are credited to your demat account 1 business day before listing.
A subscription multiple of 11.31× means investors have bid for 11.31 times the total shares available. Since the IPO is oversubscribed, not every applicant will receive shares — allotment happens via lottery (for retail) or proportionately (for other categories). Higher multiples generally reduce allotment probability.
Based on the current retail subscription of data pending, the estimated allotment probability for retail investors is Low–Moderate. Lottery-based allotment. If final subscription stays below 1×, all applicants are likely to get full allotment.
You can apply for Exim Routes IPO through: (1) ASBA (Application Supported by Blocked Amount) via your bank's net banking or mobile app, (2) UPI-based application through your broker's app (Zerodha, Groww, Angel One, etc.), or (3) directly via your demat account. The amount is blocked in your account and deducted only upon allotment. Applications were accepted from Dec 12 to Dec 16, 2025.
The grey market premium (GMP) reflects unofficial pre-listing trading sentiment. For the latest Exim Routes IPO GMP data, check the IPO Rise GMP page. Note: GMP is unofficial, speculative, and not a guaranteed indicator of listing price — use it only as a sentiment signal alongside official subscription data.
The Exim Routes IPO subscription tracks how many times each investor category has subscribed relative to their reserved quota. As of Dec 16, 2025, the overall subscription stands at 11.31× — Heavily Oversubscribed.
QIBs include domestic mutual funds, FIIs/FPIs, banks, insurance companies, and SEBI-registered venture capital funds. They are allocated up to 50% of the net offer (75% for SME IPOs). For Exim Routes IPO, QIB subscription is at 7.64×. High QIB subscription signals strong institutional conviction and is considered a positive indicator for post-listing performance.
NIIs are high-net-worth individuals (HNIs) and corporate bodies applying for more than ₹2 lakh. SEBI further divides this into bNII (bids above ₹10 lakh) and sNII (bids between ₹2–10 lakh), each with a separate allotment bucket. For Exim Routes IPO: bNII at 28.27×, sNII at 12.02×. Very high NII subscription (>50×) often signals leveraged HNI bidding, suggesting a strong listing expectation.
Retail investors apply for up to ₹2 lakh. They are reserved 35% of the net offer (in most mainboard IPOs). If oversubscribed, allotment is via computerised lottery — each applicant (regardless of lot count) has an equal probability.
Price band: ₹83–₹88 per share. Lot size: 1,600 shares. Minimum retail investment at upper band: ₹140,800. Applications must be in multiples of 1,600 shares.
Stock exchanges (BSE/NSE) publish subscription data multiple times a day during the subscription window. The figures shown here represent the latest available snapshot. "Shares Offered" is the quota reserved for each category; "Shares Bid For" is the total demand received; "Times Subscribed" is the ratio of demand to supply.
Subscription Opens Done
Dec 12, 2025Subscription Closes Done
Dec 16, 2025Basis of Allotment Done
Dec 17, 2025Listing on NSE Done
Dec 19, 2025Lottery-based allotment.
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Higher subscription = lower allotment probability. Progress bars compare each category relative to the highest-subscribed category.