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InvestmentsIPOExim Routes IPO

Exim Routes IPO

SME

Open Date

12 Dec 2025

Close Date

16 Dec 2025

Min Investment

₹ 2,81,600

Lot Size

1,600

Issue Size

₹ 43.73 Cr

Price Range

₹ 83 - ₹ 88

Subscribed

10.45 x
status

This IPO is now Live.

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IPO Timeline
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IPO Offer Start
12 Dec 2025
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IPO Offer Ends
16 Dec 2025
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Allotment Finalisation
17 Dec 2025
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Refund Initialisation
18 Dec 2025
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Non-Institutional Buyers (sHNI)
18 Dec 2025
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Listing of Shares
19 Dec 2025
IPO Subscription Details as on 4 Apr 2026, 02:35 AM
Qualified Instituational Buyers (QiB)
10.56 x
Retail
6.96 x
Total
10.45 x
Non-Institutional Buyer (bHNI)
23.69 x
Non-Institutional Buyer (sHNI)
8.19 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
The company operates as a global platform facilitating the exchange of recyclable paper product materials, providing end-to-end services to Indian Paper Mills ranging from sourcing/procurement of waste paper to quality assurance and logistics. The company has developed the Exim Routes Intelligence System (ERIS), an AI-powered B2B digital platform designed to perform supply chain operations, customer enablement, market intelligence, and logistics integration. The company operates through a group structured framework comprising the Indian parent entity and a network of foreign subsidiaries in the United States, Singapore, United Kingdom, Germany, and South Africa for sourcing and international logistics of waste paper.
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Founded In

2019

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CEO

Manish Goyal

Financials of Exim Routes IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2023Mar 2024Mar 2025
Operating Revenue36.4571.86120.67
Other Income0.020.530.32
Total Income
36.4672.39120.99
Total Expenses
35.9767.56111.21
Profit Before Tax0.494.839.78
Total Profit
0.374.207.56

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company intends to deploy net proceeds towards the development and maintenance of AI-powered supply chain software platform - ERIS (Exim Routes Intelligence System). This includes upgradation of ERIS, human resources for tech team expansion, and computer hardware and software licenses to support high-performance computing and development operations.15
The company proposes to utilize proceeds from the Fresh Issue towards funding working capital requirements. The company has significant working capital requirements and requires additional working capital for funding future growth requirements and to fulfill existing and upcoming orders by funding trade payables.9
The company proposes to utilize proceeds towards funding a new office space to accommodate increased headcount. This includes the estimated cost to procure the office space and necessary interior fitout work to enable better collaboration across teams and build valuable assets for the future.7
The company intends to deploy the balance net proceeds for general corporate purposes including strategic initiatives, strengthening marketing network and capability, meeting exigencies, and brand building exercises to strengthen operations, subject to utilization not exceeding prescribed regulatory limits.-
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  • Global Sourcing Network: The company operates with foreign subsidiaries in Singapore, South Africa, UK, Germany and USA, along with a network of strategic yards/suppliers and partners, allowing sourcing of recyclables from 15+ countries across the globe into India.
  • Domain Knowledge: The company is founded by Mr. Manish Goyal, a paper engineer from IIT Roorkee with 16 years of deep technical expertise and experience in the paper industry, with most leadership team members also being paper and polymer engineers from IIT Roorkee.
  • Experienced Leadership: The company's leadership and advisory team brings diverse experience across technical, commercial, operations, strategic and commodities from companies including EY, Amazon, P&G, Zilingo, McKinsey, AT Kearney, and BCG.
  • Proprietary Digital Platform: The company has built its own AI-powered B2B platform, Exim Routes Intelligence System (ERIS) that streamlines supply chain operations through global inventory matching and price discovery, enables efficient customer communication, delivers actionable insights via integrated market intelligence, and ensures seamless logistics execution.
  • Quality Assurance: The company provides quality assurance through its in-house quality team that works hand in hand with mills to inspect incoming shipments, as needed.

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