Exim Routes IPO: The initial public offering (IPO) of Exim Routes, a B2B platform for paper mills, opened for public subscription on Friday, December 12, and will conclude on Tuesday, December 16. The SME IPO is entirely a fresh issue of 49.7 lakh shares of face value of ₹5 each.

Ahead of the IPO, the company raised nearly ₹12.42 crore from anchor investors by issuing 14,11,200 shares to four anchor investors at a bid price of ₹88 per share.

The IPO is witnessing decent interest in the grey market as the latest grey market premium (GMP) of Exim Routes shares indicates the stock could list at a healthy premium of 10%.

Exim Routes IPO GMP

According to grey market sources, the GMP of Exim Routes shares was ₹9 on Friday morning. This indicates the stock could list at a premium of about 10% over its issue price.

Exim Routes IPO subscription status

By 12:05 pm on Friday, the issue had seen an overall subscription of nearly 0.15 times, with the retail portion booked 0.19 times, and the segment reserved for NIIs subscribed to 0.26 times. QIB’s portion was yet to see any subscription till that time.

Exim Routes IPO details

1. Exim Routes IPO objects: According to the RHP, the company will use the net proceeds from the issue to meet the expenses for the development and maintenance of the ERIS platform, for working capital requirements, for investment in office space to accommodate new hires, and for general corporate purposes.

2. Exim Routes IPO date: The SME IPO opened for subscription on Friday, December 12. It will close on Tuesday, December 16.

3. Exim Routes IPO price: The price band of the public issue has been fixed at ₹83 to ₹88 per equity share.

4. Exim Routes IPO size: The NSE SME IPO is a fresh issue of 49,69,600 shares of face value of ₹5 each. There is no OFS portion in the issue.

5. Exim Routes IPO lot size: Retail investors can bid for a minimum and maximum of 1,600 shares.

6. Exim Routes IPO reservation: QIBs have been offered 23,52,000 shares (47.33% of the issue). Retail investors have been offered 16,57,600 shares, or 33.35% of the net issue. The company has reserved 7,10,400 (14.29% of the net issue) for NIIs.

7. Exim Routes IPO allotment date: The company is expected to finalise the share allotment on Wednesday, December 17. Successful bidders can expect shares of the company in their demat accounts on Thursday, December 18, and bidders who fail to get the allocation may get a refund on the same day.

8. Exim Routes IPO book-running lead manager and registrar: According to the issue’s Red Herring Prospectus (RHP), Narnolia Financial Services Ltd. is the book-running lead manager, and Maashitla Securities Private Limited is the registrar of the Exim Routes IPO.

9. Exim Routes IPO listing: As per SEBI’s T+3 rule of IPO listing, the IPO is proposed for listing on the NSE SME on Friday, December 19.

10. Exim Routes business overview: As per the RHP, the company operates as a global platform for 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 of waste paper to mills.

The company has developed the Exim Routes Intelligence System (ERIS), an AI-powered B2B digital platform, to enable these operations.

The company’s consolidated revenue from operations for FY23 was ₹36.45 crore, which rose to ₹71.86 crore in FY24 and to ₹120.7 crore in FY25.

Profit after tax, attributable to owners of holding company, was ₹37.49 lakh in FY23, ₹3.05 crore in FY24, and ₹6.75 crore in FY25.

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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.