Exim Routes IPO is a book-built public issue aggregating ₹43.73 crore, comprising a fresh issue of 0.50 crore equity shares. The issue opened for subscription on December 12, 2025, and will close on December 16, 2025.
The allotment is likely to be finalised on December 17, 2025, while the shares are expected to list on the NSE SME platform on December 19, 2025.
The price band has been fixed at ₹83 to ₹88 per share. The lot size is 1,600 shares, and retail investors are required to apply for a minimum of two lots, amounting to an investment of ₹2,81,600 at the upper price band.
Exim Routes IPO was subscribed 2.05 times overall as of 11:15 AM on December 16, 2025, the third day of bidding. The retail segment saw subscription of 2.23 times, while the NII portion was subscribed 4.34 times. The QIB (excluding anchor investors) category remained unsubscribed at 0.00 times.
The Exim Routes IPO, valued at ₹43.73 crore, is a book-built issue consisting entirely of a fresh issuance of 0.50 crore equity shares. The subscription window opened on December 12, 2025, and will conclude on December 16, 2025.
The basis of allotment is expected to be finalised on December 17, 2025, with the company scheduled to make its debut on the NSE SME on December 19, 2025.
The IPO is priced in a band of ₹83–₹88 per share, with a lot size of 1,600 shares. Retail investors must apply for at least 3,200 shares, translating to a minimum investment of ₹2,81,600 at the upper end of the price band.
By 11:15:01 AM on Day 3, December 16, 2025, the Exim Routes IPO received an overall subscription of 2.05 times. Demand from individual investors stood at 2.23 times, non-institutional investors subscribed 4.34 times, and the QIB (Ex-Anchor) segment recorded no bids.
The table below breaks down the Exim Routes share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 2,49,600 (5.02%) |
| QIB Shares Offered | 23,52,000 (47.33%) |
| − Anchor Investor Shares Offered | 14,11,200 (28.40%) |
| − QIB (Ex. Anchor) Shares Offered | 9,40,800 (18.93%) |
| NII (HNI) Shares Offered | 7,10,400 (14.29%) |
| − bNII > ₹10L | 4,70,400 (9.47%) |
| − sNII < ₹10L | 2,40,000 (4.83%) |
| Retail Shares Offered | 16,57,600 (33.35%) |
| Total Shares Offered | 49,69,600 (100.00%) |
| Category | Subscription (times) |
| Qualified Institutional Buyers | 0.00 |
| Non-Institutional Investors | 4.34 |
| Retail Individual Investors | 2.23 |
| Total shares | 2.05 |
Note: The subscription details are as of Dec 16, 2025
Exim Routes Limited operates as a global platform enabling the trade of recyclable materials, primarily focusing on paper and metal scrap. The company provides comprehensive, end-to-end solutions to Indian paper mills, covering the entire value chain from sourcing waste paper internationally to quality checks and logistics management.
The business functions through a group structure led by the Indian parent entity, Exim Routes Limited, supported by multiple overseas subsidiaries. Leveraging its proprietary AI-driven B2B platform, ERIS, the company connects buyers and sellers of recyclable paper, simplifying procurement, supply chain coordination, and delivery processes.
Exim Routes sources waste paper from global markets and supplies it to Indian mills, managing cross-border trade and logistics across regions. Its operations span several continents, with a strong footprint in India and Singapore, along with subsidiaries located in the United States, the United Kingdom, Germany, and South Africa, reinforcing its position as a global recyclable exchange company.
Know more about IPO allotment status and check your application details online for the latest updates on share allocation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Dec 16, 2025, 11:28 AM IST
Nikitha Devi
Nikitha is a content creator with 7+ years of experience in the financial domain. Specialising in personal finance, investments, and market insights, Nikitha simplifies complex financial topics, making them accessible to readers.
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