Exim Routes IPO – Detailed Review, Dates, Price, Lot Size, Financials, Strengths, Risks & FAQs
The Exim Routes Ltd IPO is an SME public issue coming to the market with strong revenue growth, a scalable B2B platform, and consistent financial performance over the last three years. Backed by an AI-powered procurement system and a wide international sourcing network, the company aims to expand its presence in India’s recyclable paper materials industry.
Here is a complete breakdown of the IPO including dates, financials, strengths, risks, GMP-style sentiment, allotment details and FAQs.
Exim Routes IPO Details
| Particulars | Details |
|---|---|
| IPO Type | SME IPO |
| Issue Size | ₹43.73 Crore |
| Face Value | ₹5 per share |
| Price Band | ₹83 – ₹88 per share |
| Lot Size | 1,600 shares |
| Minimum Investment | ₹2,65,600 |
| Bidding Dates | 12 Dec 2025 – 16 Dec 2025 |
| Tentative Allotment Date | 17 Dec 2025 |
| Tentative Listing Date | 19 Dec 2025 |
| IPO Code | RHP PDF (SME) |
| Parent Organisation | Exim Routes Ltd |
| MD/CEO | Mr. Manish Goyal |
| Founded | 2019 |
About Exim Routes
Exim Routes operates a B2B exchange platform for recyclable paper materials, enabling procurement of waste paper, sourcing operations, logistics, and fulfillment for Indian paper mills.
The company has built an advanced digital procurement ecosystem integrating:
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Supplier discovery
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Buyer-seller matchmaking
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Price forecast models
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Logistics execution support
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Quality audit and documentation
Exim Routes collaborates with suppliers across 15+ countries, including the US, UK, Europe, the Middle East, South Africa, Singapore, and more.
Strengths of Exim Routes
✅ 1. AI-Powered ERIS Procurement Platform
Exim Routes has developed ERIS, an AI-based global procurement and intelligence system that supports:
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Algorithmic buyer–seller matching
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Market intelligence insights
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Transparent communication
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Automated logistics tracking
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Price forecasts and supplier performance predictions
✅ 2. Strong International Sourcing Network
The company imports recyclable waste paper from 15+ countries such as the US, UK, Germany, Middle East, Africa, Europe etc., ensuring:
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Competitive global sourcing
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Supply stability
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Better margins for Indian mills
✅ 3. Award Recognition
Received the Indian Achievers’ Award 2022 in the “Emerging Company” category.
✅ 4. Consistent Revenue and Profit Growth
The company has shown steady and significant growth:
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Revenue increased from ₹38.44 Cr in FY23 → ₹71.86 Cr in FY24 → ₹128.87 Cr in FY25
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PAT increased from ₹0.37 Cr in FY23 → ₹4.20 Cr in FY24 → ₹7.56 Cr in FY25
This reflects a strong financial turnaround and scalable business model.
Risks of Exim Routes
⚠️ 1. Revenue Concentration in Waste Paper Industry
The business relies heavily on recyclable paper materials; any volatility in global waste paper prices, supply constraints, or demand shifts may affect profitability.
⚠️ 2. High Competition
The company operates in a competitive industry with thin margins. Any loss of major customers or suppliers may affect revenue.
⚠️ 3. Foreign Exchange Risks
A significant portion of procurement is sourced globally.
Currency fluctuations can directly impact import costs.
⚠️ 4. Working Capital Intensive Business
High inventory and receivable requirements may put financial pressure on the company.
⚠️ 5. Dependency on Limited Suppliers
Screenshot shows dependence on top suppliers controlling large portions of imports, creating risk if any supplier faces disruption.
⚠️ 6. Outstanding Legal Proceedings
Any ongoing or future legal actions may impact business operations.
⚠️ 7. Collection Delays
Delayed receivables can negatively affect liquidity.
⚠️ 8. Industry Cyclicity
Paper industry cycles may impact waste paper demand and pricing.
Exim Routes IPO Financials
Revenue (₹ in Crores)
| FY | Revenue |
|---|---|
| 2023 | 38.44 Cr |
| 2024 | 71.86 Cr |
| 2025 | 128.87 Cr |
Profit After Tax (PAT)
| FY | PAT |
|---|---|
| 2023 | 0.37 Cr |
| 2024 | 4.20 Cr |
| 2025 | 7.56 Cr |
These numbers show nearly 3x growth in revenue over 2 years and a significant jump in profitability.
Exim Routes IPO Allotment & Listing
| Event | Date |
|---|---|
| IPO Opens | 12 Dec 2025 |
| IPO Closes | 16 Dec 2025 |
| Allotment Date | 17 Dec 2025 |
| Listing Date | 19 Dec 2025 |
| Exchange | NSE SME |
Exim Routes IPO – FAQs
1. What is the issue size of the Exim Routes IPO?
The total issue size is ₹43.73 Crore.
2. What is “pre-apply” for Exim Routes IPO?
Pre-apply allows investors to place an early application up to 4 days before the IPO opens.
3. If I pre-apply, when will my order be placed?
Your order will be placed automatically on the exchange as soon as bidding opens.
A UPI request will be received within 24 hours.
4. What are the open and close dates?
12 Dec 2025 – 16 Dec 2025
5. What is the lot size and minimum investment?
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Lot size: 1,600 shares
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Minimum investment: ₹2,65,600
6. What is the price band?
₹83 – ₹88 per share.
7. What is the Exim Routes IPO allotment date?
Tentative allotment date is 17 Dec 2025.
8. When will Exim Routes IPO list?
Tentative listing date: 19 Dec 2025 on NSE SME.
9. Who is the registrar?
MASPL is the registrar for this IPO.
Conclusion – Should You Apply for Exim Routes IPO?
Exim Routes Ltd is a fast-growing player in the recyclable paper procurement ecosystem with:
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Proven revenue growth
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Strong PAT expansion
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Global sourcing network
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AI-driven procurement platform
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Expanding customer base
However, being an SME IPO, risks such as:
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Market volatility
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Dependency on global waste paper supply
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Currency fluctuations
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Industry cyclicity
need to be considered.
Suitable for investors looking for long-term growth potential, but one must evaluate SME-IPO risk appetite before investing.
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