Exim Routes had a strong debut on the NSE SME platform on Friday, December 19. The stock opened at ₹110, marking a 25% gain over its issue price of ₹88. It further surged to ₹115.50, hitting its upper circuit limit, a 31% increase from the issue price. Despite this impressive listing, the debut fell short of market expectations, as the stock was anticipated to list at a 36% premium based on the latest grey market premium (GMP).
Exim Routes is a global platform facilitating the exchange of recyclable paper products, offering services such as sourcing, procurement, quality assurance, and logistics to Indian paper mills. The company also developed the Exim Routes Intelligence System (ERIS), an AI-driven B2B digital platform to streamline its operations.
For FY23, Exim Routes reported consolidated revenue of ₹36.45 crore, which rose to ₹71.86 crore in FY24 and ₹120.7 crore in FY25. Its profit after tax grew from ₹37.49 lakh in FY23 to ₹6.75 crore in FY25. The IPO, priced between ₹83 and ₹88 per share, was subscribed 15 times overall.
