NSE List Price : ₹110.00

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Category	Times
QIBs	19.11x
HNIs	22.78x
Retail	9.94x
Total : 0.53x

IPO Market Lot(s) Distribution

Application	Lot Size	Shares	Amount
Retail Minimum	2	3,200	₹281,600
Retail Maximum	2	3,200	₹281,600
S-HNI Minimum	3	4,800	₹422,400
S-HNI Maximum	7	11,200	₹985,600
B-HNI Minimum	8	12,800	₹1,126,400

About the Company

Exim Routes Limited has been a prominent player in the industry since it was founded in April 2019. The company focuses on supporting Indian paper mills by supplying high-quality recyclable paper and efficiently managing logistics. Its product portfolio includes white grades such as office paper and tissue, brown grades like OCC and mixed paper, and mechanical grades including newspapers and magazines.

To ensure efficient operations, the company developed the Exim Routes Intelligence System (ERIS), an AI-driven B2B platform that supports four core functions: offer matching, market intelligence, customer enablement, and logistics integration. ERIS connects over 100 international yards with more than 50 Indian mills across 15+ countries. As of June 30, 2025, Exim Routes Limited employs a team of 18 professionals.

Company Financial Report

_{Amount ₹ in Crores}

Period Ended	Revenue	Expense	PAT	Assets
2023	₹36.46	₹35.97	₹0.37	₹6.63
2024	₹72.39	₹67.56	₹4.20	₹20.53
2025	₹120.99	₹111.21	₹7.56	₹47.62
June 2025	₹44.17	₹42.60	₹1.17	₹50.97

Company Promoter

Mr. Manish Goyal

Mr. Govind Rai Garg

Know before investing

• • Strengths

  Strong Domain Expertise: Established by IIT Roorkee–trained paper engineer Mr. Manish Goyal, the company draws on his 16 years of in-depth technical experience in the paper industry. The leadership team is largely composed of paper and polymer engineers from IIT Roorkee, further reinforcing the company’s strong technical capabilities.

  Experienced and Diverse Leadership: The leadership and advisory group brings broad expertise spanning technical, commercial, operational, strategic, and commodity domains. Team members have prior experience with renowned global organizations, including EY, Amazon, P&G, Zilingo, McKinsey, AT Kearney, and BCG.

• • Risks

  Risk of Technology Obsolescence: The company relies extensively on its ERIS platform for day-to-day operations. Any lag in technology upgrades or in adopting new advancements could make the system obsolete, leading to lower efficiency, reduced user adoption, and diminished revenue, while also necessitating substantial reinvestment.

  Concentration in Recyclable Paper Business: A significant share of the company’s revenue is generated from trading recyclable paper for Indian paper mills. An inability to acquire new customers or maintain relationships with existing clients in this core segment could negatively affect the company’s overall performance and future growth.

Objects of the Issue & Utilisation of proceeds

To meet out the expenses for Development and Maintenance of the ERIS platform.

To meet out the expenses for Working Capital to fund business growth.

To meet out the expenses for Investment in Office space to accommodate new hires.

Company  Address

Exim Routes Limited
Unit No 421, 4th Floor, Suncity Success
Tower, Golf Course Extension Road, Sector
65, Gurugram, Haryana 122101, India
Email: cs.er@eximroutes.in
Phone No. +91 95602 71761
Website: https://eximroutes.ai/

IPO Registrar

Maashitla Securities Pvt.Ltd.
Phone: +91-11-45121795-96
Email: contact@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues

IPO Review

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