EXIM ROUTES IPO

EXIM ROUTES IPO

Snapshot of the Offering

The Initial Public Offering (IPO) of EXIM ROUTES is set to open for public subscription, offering investors an opportunity to participate in a company at the forefront of the recyclable paper materials exchange. This offering brings forth a fresh issue of shares, signaling the company’s intent to bolster its capital base for future growth and strategic initiatives. Investors should mark the key dates to ensure timely participation.

Key Dates for Prospective Investors

• Opening Date: 12 Dec 2025
• Closing Date: 16 Dec 2025
• UPI Payment Deadline: 16 Dec 2025 (5 PM)
• Allotment Announcement: 17 Dec 2025
• Refund Processing: 18 Dec 2025
• Demat Credit: 18 Dec 2025
• Stock Market Listing: 19 Dec 2025
• Mandate Validity End: 31 Dec 2025
• Anchor Investor Lock-in Release (50%): 16 Jan 2026
• Anchor Investor Lock-in Release (Remaining): 17 Mar 2026

*Dates may be revised as per official updates from the company and regulatory bodies. Investors are advised to stay informed about any potential changes.

Deep Dive into EXIM ROUTES’ Business

Founded in 2019 and subsequently converted into a public company in 2024, EXIM ROUTES Limited has established itself as a significant global platform facilitating the trade and exchange of recyclable paper materials. The company operates within the crucial industry sector of paper recycling and sustainable resource management, playing a vital role in the circular economy.

EXIM ROUTES specializes in providing end-to-end services that support Indian paper mills, encompassing everything from precise sourcing of raw materials to meticulous inventory matching, efficient logistics coordination, and rigorous quality assurance. By addressing critical needs within the paper manufacturing value chain, the company helps ensure a consistent and high-quality supply of recyclable paper, which is essential for sustainable production.

A cornerstone of EXIM ROUTES’ operational efficiency and market intelligence is its proprietary AI-powered ERIS platform. This advanced technology tool significantly enhances price discovery mechanisms, provides invaluable market insights, and streamlines supply chain processes, thereby improving overall efficiency for its clients. The company’s business model is further strengthened by its strategic international subsidiaries, which are instrumental in facilitating compliant procurement activities, especially in light of specific regulatory frameworks concerning import and export in India.

Under the experienced leadership of its promoters, Mr. Manish Goyal and Mr. Govind Rai Garg, EXIM ROUTES operates on a technology-led intermediary model. This approach is characterized by diversified revenue streams, which include core recyclable paper trading, managed services offerings, and comprehensive logistics solutions. The company’s market positioning is defined by its integrated digital ecosystem, a robust global sourcing infrastructure, streamlined operational processes, and a deep reservoir of industry-focused expertise.

Unpacking the IPO Structure

The EXIM ROUTES IPO is entirely a fresh issue of equity shares, meaning that all the capital raised through this offering will directly flow into the company. This structure indicates a clear objective to fund the company’s operational expansion, strategic projects, and general corporate requirements rather than providing an exit route for existing shareholders. The complete fresh issue underscores the company’s commitment to leveraging the IPO proceeds for its future growth trajectory and enhancing its intrinsic value.

Strategic Allocation of Funds

The capital generated from the fresh issue component of the IPO is earmarked for several strategic initiatives designed to fuel EXIM ROUTES’ growth and strengthen its operational capabilities. The planned allocation reflects a forward-thinking approach to enhance technology infrastructure, expand business reach, and ensure financial stability.

A significant portion of the funds, approximately 27.15%, is dedicated to the development and maintenance of its core ERIS platform. This investment highlights the company’s commitment to technological advancement, ensuring its AI-powered system remains at the cutting edge and continues to provide superior value to its clients. Another substantial allocation, 20.58%, will be directed towards meeting the company’s working capital requirements, which is crucial for supporting its day-to-day operations and facilitating business growth. Further investments include 16.30% for office space, indicating a planned expansion of its physical infrastructure. The remaining 35.97% is allocated for general corporate purposes, providing the company with the flexibility to address unforeseen opportunities or requirements, maintain liquidity, and support overall business functions.

Pillars of Strength for EXIM ROUTES

EXIM ROUTES distinguishes itself in the competitive landscape through a combination of strategic advantages that underpin its business model and growth potential. These core strengths contribute to its resilience and ability to serve its market effectively.

• AI-powered ERIS platform: The company’s proprietary ERIS platform leverages artificial intelligence to offer enhanced supply-chain visibility and empowers better, data-driven decision-making. This technological edge allows for optimized logistics, improved price discovery, and greater efficiency across its operations.
• Global subsidiary network: EXIM ROUTES operates through a robust global subsidiary network. This structure is not only crucial for enabling compliant sourcing of recyclable paper materials but also allows for diversified procurement strategies, reducing reliance on any single region or supplier and enhancing supply chain resilience.
• End-to-end service model: By offering a comprehensive suite of services, from sourcing and quality assurance to logistics, EXIM ROUTES creates a high level of customer stickiness with Indian paper mills. This integrated approach simplifies the supply chain for its clients and fosters long-term relationships.
• Strong revenue base: The company benefits from a solid revenue foundation, primarily driven by its core recyclable paper trading operations. This indicates a well-established market presence and effective execution within its primary business segment.
• Experienced promoters: The leadership team, comprising experienced promoters, brings deep domain knowledge and operational expertise to the company. Their insights and guidance are invaluable in navigating market dynamics and executing strategic initiatives effectively.

Navigating Potential Investment Risks

While EXIM ROUTES presents a compelling investment proposition, it is important for prospective investors to be aware of certain inherent risks that could influence the company’s performance and financial outlook.

• High dependence on recyclable paper trading: A significant portion of EXIM ROUTES’ revenue is derived from recyclable paper trading. This exposes the company’s financial performance to the cyclical nature and volatility of commodity markets, where prices and demand can fluctuate due to global economic conditions, environmental policies, and supply-demand imbalances.
• Regulatory restrictions in India: India’s regulatory environment for the import of certain recyclable materials can be stringent, necessitating the company’s reliance on foreign subsidiaries for sourcing. Any changes in these international or domestic regulations, or challenges in managing these cross-border operations, could impact the company’s sourcing capabilities and costs.
• Significant trade receivables: Operations involving large-scale trading often lead to significant trade receivables. A high level of outstanding receivables, particularly if collection cycles are extended or if there’s an increase in bad debts, could strain the company’s liquidity position and impact its working capital management.
• Technology obsolescence risk: The company’s core strength lies in its AI-powered ERIS platform. However, the rapid pace of technological advancements means there is a risk of technology obsolescence if the platform is not continuously upgraded and adapted to evolving industry standards and client needs, potentially diminishing its competitive edge.
• Working-capital-intensive operations: The nature of EXIM ROUTES’ business, particularly large-scale trading and logistics, is inherently working-capital-intensive. This requires continuous funding support to manage inventory, receivables, and operational expenses, and any disruption to funding access could impact growth and stability.

Live Investor Demand: Subscription Insights

Monitoring the subscription figures provides an indication of investor interest in an IPO. As of the latest available information, the subscription status for EXIM ROUTES IPO on the first day reflects varying levels of demand across different investor categories. It’s important to note that Grey Market Premium (GMP) figures are unofficial and highly speculative; exchange data offers a more reliable assessment of investor participation.

Subscription statistics based on the latest available information as of 05:00 PM on December 12, 2025:

*The subscription data reflects the demand on the first day of the IPO. These figures may change significantly as the IPO progresses.

Your Guide to Participating in the IPO

Investors keen on participating in the EXIM ROUTES IPO can do so seamlessly through the official Dhan Kirti IPO platform. Ensure your application is submitted well before the subscription window closes on December 16, 2025, to secure your chance to invest in this promising offering.