Exim Routes Ipo
Exim Routes IPO Review & Key Points
Review:
Peer Group Comparison
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IPO Lead Managers aka Merchant Bankers
Narnolia Financial Services Ltd.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 3,200 | ₹2,81,600 |
| Retail Maximum | 2 | 3,200 | ₹2,81,600 |
| S-HNI Minimum | 3 | 4,800 | ₹4,22,400 |
| S-HNI Maximum | 7 | 11,200 | ₹9,85,600 |
| B-HNI Minimum | 8 | 12,800 | ₹11,26,400 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 14,11,200 Shares | 28.40% |
| QIB (Ex. Anchor) | 9,40,800 Shares | 18.93% |
| NII Shares Offered | 7,10,400 Shares | 14.29% |
| Retail Shares Offered | 16,57,600 Shares | 33.35% |
| Anchor Bidding Date | December 11, 2025 |
| Anchor Investors List | |
| Shares Offered | 14,11,200 Shares |
| Anchor Size | [.] Cr. |
| lock-in period end date 50% shares (30 Days) | January 18, 2026 |
| lock-in period end date 50% shares (90 Days) | March 17, 2026 |
| IPO Open Date: | December 12, 2025 |
| IPO Close Date: | December 16, 2025 |
| Basis of Allotment: | December 17, 2025 |
| Refunds: | December 18, 2025 |
| Credit to Demat Account: | December 18, 2025 |
| IPO Listing Date: | December 19, 2025 |
| IPO Bidding Cut-off Time: | December 16, 2025 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,37,82,400 | 71.35% |
| Promoter Holding Post Issue | 1,87,52,000 | 52.44% |
| Purpose | Crores |
| To meet out the expenses for Development and Maintenance of the ERIS platform | ₹11.87 |
| To meet out the expenses for Working Capital to fund business growth | ₹9.00 |
| To meet out the expenses for Investment in Office space to accommodate new hires | ₹7.13 |
| General Corporate Purpose | ₹- |
| 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 |
| KPI | Values |
| ROE: | 53.14% |
| ROCE: | 35.53% |
| EBITDA Margin: | 8.24% |
| PAT Margin: | 6.27% |
| Debt to equity ratio: | 0.20 |
| Earning Per Share (EPS): | ₹2.75 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 42.28% |
| Net Asset Value (NAV): | ₹11.32 |
| IPO Open Date | December 12, 2025 |
| IPO Close Date | December 16, 2025 |
| Face Value | ₹5 Per Equity Share |
| IPO Price Band | ₹83 to ₹88 Per Share |
| Issue Size | Approx ₹43.73 Crores |
| Fresh Issue | Approx ₹43.73 Crores |
| Issue Type | Book Build Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |