Exim Routes IPO 2025: Price, Subscription Status, NSE SME Details

The Exim Routes IPO has opened on the NSE SME platform, attracting attention from investors tracking India’s growing B2B digital space. The IPO represents a key milestone for the company, which runs a specialised platform linking paper mills with suppliers of recyclable paper materials.

Market Performance & IPO Overview

The initial public offering is a fresh issue of 49.7 lakh shares with a face value of ₹5 each. Ahead of the public subscription, Exim Routes raised ₹12.42 crore from anchor investors, issuing 14.11 lakh shares at ₹88 per share.

The IPO opened on Friday, December 12 and will close on Tuesday, December 16, giving investors a four-day window to participate.

IPO Subscription Status (as of 12:05 PM, Day 1)

• Overall subscription: 0.15x
• Retail portion: 0.19x
• Non-Institutional Investors (NII) portion: 0.26x
• Qualified Institutional Buyers (QIB) portion: no subscription reported yet

Key Details of Exim Routes IPO

Here are the critical details investors should know:

• Price Band: ₹83–88 per share
• Lot Size: Minimum and maximum bid for retail investors is 1,600 shares
• Issue Size: Fresh issue of 49,69,600 shares; no Offer for Sale (OFS)
• Reservation:
  • QIBs: 23,52,000 shares (47.33%)
  • Retail: 16,57,600 shares (33.35%)
  • NIIs: 7,10,400 shares (14.29%)
• Allotment Date: Expected Wednesday, December 17, with shares credited to demat accounts on Thursday, December 18; refunds processed the same day
• Book Running Lead Manager: Narnolia Financial Services Ltd.
• Registrar: Maashitla Securities Pvt Ltd
• Listing Date: Proposed Friday, December 19, on NSE SME

Exim Routes Business Snapshot

Exim Routes operates a global platform for recyclable paper material, serving Indian paper mills end-to-end—from sourcing and procurement to quality assurance and logistics.

The company has developed the Exim Routes Intelligence System (ERIS), an AI-powered platform designed to streamline B2B transactions in the paper industry.

Financial Highlights:

• Revenue from Operations:
  • FY23: ₹36.45 crore
  • FY24: ₹71.86 crore
  • FY25: ₹120.7 crore
• Profit After Tax (PAT):
  • FY23: ₹37.49 lakh
  • FY24: ₹3.05 crore
  • FY25: ₹6.75 crore

The financial growth reflects the increasing adoption of digital solutions in the paper recycling sector, underlining the company’s rising market footprint.

Summary

The Exim Routes IPO represents a fresh investment opportunity in India’s B2B digital infrastructure. With a clear business model, an AI-powered platform, and steadily growing revenues, the IPO offers a transparent picture for investors seeking to participate in the NSE SME segment.

The listing is scheduled for December 19, 2025, and the company’s subscription status over the next few days will indicate the market sentiment toward this niche B2B platform.