Exim Routes IPO Listing: This IPO gave a shock to the investors, all the shares fell, know what is the reason?

Exim Routes IPO Listing: Exim Roots, a global B2B business in recycled paper, made a strong debut on NSE SME today. Its IPO also got an excellent response from investors, which was oversubscribed more than 15 times. Shares were issued in the IPO at a price of ₹88 per share.

Today, it listed on NSE SME at ₹110.00, giving IPO investors a 25% listing gain. However, the joy of IPO investors did not last long as the share price fell. After reaching a high of ₹114.50, it fell to the lower circuit of ₹104.50 (Axim Roots Share Price), which means IPO investors are now sitting on 18.75% profits.

How will the money raised from Exim Routes IPO be used?

Exim Routes’ ₹43.73 crore IPO was open for subscription from December 12-16. The IPO received a good response from investors and was overall oversubscribed by 15.23 times.

Of the funds raised from these shares, ₹11.87 crore will be used for development and maintenance of the ERIS platform, ₹7.13 crore for investment in office space for new employees, ₹9.00 crore for working capital and the remaining funds will be used for general corporate purposes.

About Exim Roots

Founded in April 2019, Axim Routes is a global platform for recycled paper materials. Its business operations are spread across India and internationally. The company uses its AI-powered B2B platform, ERIS, to connect buyers and sellers of recycled paper.

Its business model includes sourcing waste paper from around the world and supplying it to Indian mills, as well as managing logistics. Its operations are spread across India and Singapore, with subsidiaries in the US, UK, Germany and South Africa.

The financial position of the company has continuously strengthened. In FY2023, the company reported a net profit of ₹37 lakh, which increased to ₹4.20 crore in FY2024 and ₹7.56 crore in FY2025.

During this period, the company’s total income grew at a compound annual growth rate (CAGR) of more than 82%, reaching ₹120.99 crore. In the current financial year 2026, for the first quarter (April-June 2025), the company has already achieved a net profit of ₹1.17 crore and total income of ₹44.17 crore. As of the end of the June 2025 quarter, the company had total debt of ₹5.10 crore, while its reserves and surplus stood at ₹15.71 crore.