Comparison between Exim Routes IPO and Telge Projects IPO.
Exim Routes IPO is a SME Bookbuilding IPO proposed to list at NSE SME while Telge Projects IPO is a SME Bookbuilding proposed to list at BSE SME.
| Exim Routes IPO | Telge Projects IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Bookbuilding |
| Listing At | NSE SME | BSE SME |
| Lead Managers | Narnolia Financial Services Ltd. | Smart Horizon Capital Advisors Pvt.Ltd. |
| Registrar | Maashitla Securities Pvt.Ltd. | Bigshare Services Pvt.Ltd. |
| Market Maker | Nikunj Stock Brokers Ltd. | Shreni Shares Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | Anchor Investor |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of Exim Routes IPO is up to ₹41.54 Cr whereas the issue size of the Telge Projects IPO is up to ₹25.87 Cr. The final issue price of Exim Routes IPO is ₹88.00 per share and of Telge Projects IPO is ₹105.00 per share.
| Exim Routes IPO | Telge Projects IPO | |
|---|---|---|
| Face Value | ₹5 per share | ₹10 per share |
| Issue Price (Lower) | ₹83.00 per share | ₹95.00 per share |
| Issue Price (Upper) | ₹88.00 per share | ₹105.00 per share |
| Issue Price (Final) | ₹88.00 per share | ₹105.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1600 shares | 1200 shares |
| Fresh Issue Size | 47,20,000 shares | 24,63,600 shares |
| Fresh Issue Size (Amount) | up to ₹41.54 Cr | up to ₹25.87 Cr |
| OFS Issue Size | 0 shares | 0 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹0.00 Cr |
| Issue Size Total | 47,20,000 shares | 24,63,600 shares |
| Issue Size Total (Amount) | up to ₹41.54 Cr | up to ₹25.87 Cr |
Exim Routes IPO opens on Dec 12, 2025, while Telge Projects IPO opens on Sep 25, 2025. The closing date of Exim Routes IPO and Telge Projects IPO is Dec 16, 2025, and Sep 29, 2025, respectively.
| Exim Routes IPO | Telge Projects IPO | |
|---|---|---|
| Anchor Bid Date | Dec 11, 2025 | Sep 24, 2025 |
| Issue Open | Dec 12, 2025 | Sep 25, 2025 |
| Issue Close | Dec 16, 2025 | Sep 29, 2025 |
| Basis Of Allotment (Tentative) | Dec 17, 2025 | Sep 30, 2025 |
| Initiation of Refunds (Tentative) | Dec 18, 2025 | Oct 01, 2025 |
| Credit of Share (Tentative) | Dec 18, 2025 | Oct 01, 2025 |
| Listing date (Tentative) | Dec 19, 2025 | Oct 03, 2025 |
| Anchor Lockin End date 1 | Jan 16, 2026 | Oct 29, 2025 |
| Anchor Lockin End date 2 | Mar 17, 2026 | Dec 28, 2025 |
Exim Routes IPO P/E ratio is 16.04, as compared to Telge Projects IPO P/E ratio of 14.04.
| Exim Routes IPO | Telge Projects IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated Consolidated)Exim Routes Ltd.'s revenue increased by 67% and profit after tax (PAT) rose by 80% between the financial year ending with March 31, 2025 and March 31, 2024.
| Company Financials (Restated Consolidated)Telge Projects Ltd.'s revenue increased by 105% and profit after tax (PAT) rose by 103% between the financial year ending with March 31, 2025 and March 31, 2024.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 71.35 | 97.28 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 52.44 | 71.50 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 16.04 | 14.04 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹165.02 Cr. | ₹102.80 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 53.14% | 67.29% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 35.53% | 56.22% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.20 | 0.83 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹5.49 | ₹7.48 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 42.28% | 47.46% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Exim Routes IPO Retail Individual Investors (RII) are offered 16,57,600 shares while in Telge Projects IPO retail investors are offered 16,57,600 shares. Qualified Institutional Buyers (QIB) are offered 9,40,800 shares in Exim Routes IPO and 4,92,000 shares in Telge Projects IPO.
| Exim Routes IPO | Telge Projects IPO | |
|---|---|---|
| Anchor Investor Reservation | 14,11,200 shares | 7,33,200 shares |
| Market Maker Reservation | 2,49,600 shares | 1,30,800 shares |
| QIB | 9,40,800 shares | 4,92,000 shares |
| NII | 7,10,400 shares | 3,72,000 shares |
| RII | 16,57,600 shares | 8,66,400 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 47,20,000 shares | 24,63,600 shares |
Exim Routes IPO subscribed 15.23x in total, whereas Telge Projects IPO subscribed 2.99x.
| Exim Routes IPO | Telge Projects IPO | |
|---|---|---|
| QIB (times) | 19.11x | 5.41x |
| NII (times) | 22.43x | 2.75x |
| Big NII (times) | 27.73x | 3.00x |
| Small NII (times) | 12.02x | 2.26x |
| RII (times) | 9.94x | 1.72x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 15.23x | 2.99x |
