Comparison between Exim Routes IPO and Mehul Telecom IPO.
Exim Routes IPO is a SME Bookbuilding IPO proposed to list at NSE SME while Mehul Telecom IPO is a SME Bookbuilding proposed to list at BSE SME.
| Exim Routes IPO | Mehul Telecom 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. | Cumulative Capital Pvt.Ltd. |
| Registrar | Maashitla Securities Pvt.Ltd. | Kfin Technologies Ltd. |
| Market Maker | Nikunj Stock Brokers Ltd. | Nikunj Stock Brokers 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 Mehul Telecom IPO is up to ₹26.32 Cr. The final issue price of Exim Routes IPO is ₹88.00 per share and of Mehul Telecom IPO is ₹98.00 per share.
| Exim Routes IPO | Mehul Telecom IPO | |
|---|---|---|
| Face Value | ₹5 per share | ₹10 per share |
| Issue Price (Lower) | ₹83.00 per share | ₹96.00 per share |
| Issue Price (Upper) | ₹88.00 per share | ₹98.00 per share |
| Issue Price (Final) | ₹88.00 per share | ₹98.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1600 shares | 1200 shares |
| Fresh Issue Size | 47,20,000 shares | 26,85,600 shares |
| Fresh Issue Size (Amount) | up to ₹41.54 Cr | up to ₹26.32 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 | 26,85,600 shares |
| Issue Size Total (Amount) | up to ₹41.54 Cr | up to ₹26.32 Cr |
Exim Routes IPO opens on Dec 12, 2025, while Mehul Telecom IPO opens on Apr 17, 2026. The closing date of Exim Routes IPO and Mehul Telecom IPO is Dec 16, 2025, and Apr 21, 2026, respectively.
| Exim Routes IPO | Mehul Telecom IPO | |
|---|---|---|
| Anchor Bid Date | Dec 11, 2025 | Apr 16, 2026 |
| Issue Open | Dec 12, 2025 | Apr 17, 2026 |
| Issue Close | Dec 16, 2025 | Apr 21, 2026 |
| Basis Of Allotment (Tentative) | Dec 17, 2025 | Apr 22, 2026 |
| Initiation of Refunds (Tentative) | Dec 18, 2025 | Apr 23, 2026 |
| Credit of Share (Tentative) | Dec 18, 2025 | Apr 23, 2026 |
| Listing date (Tentative) | Dec 19, 2025 | Apr 24, 2026 |
| Anchor Lockin End date 1 | Jan 16, 2026 | May 22, 2026 |
| Anchor Lockin End date 2 | Mar 17, 2026 | Jul 21, 2026 |
Exim Routes IPO P/E ratio is 16.04, as compared to Mehul Telecom IPO P/E ratio of 13.02.
| Exim Routes IPO | Mehul Telecom IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated Consolidated)
| Company Financials (Restated)
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 71.35 | 94.25 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 52.44 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 16.04 | 13.02 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹165.02 Cr. | ₹102.43 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 53.14 | 59.84 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 35.53 | 47.16 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹5.49 | ₹7.53 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 42.28 | 35.31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Exim Routes IPO Retail Individual Investors (RII) are offered 16,57,600 shares while in Mehul Telecom IPO retail investors are offered 16,57,600 shares. Qualified Institutional Buyers (QIB) are offered 9,40,800 shares in Exim Routes IPO and 5,49,600 shares in Mehul Telecom IPO.
| Exim Routes IPO | Mehul Telecom IPO | |
|---|---|---|
| Anchor Investor Reservation | 14,11,200 shares | 7,89,600 shares |
| Market Maker Reservation | 2,49,600 shares | 1,44,000 shares |
| QIB | 9,40,800 shares | 5,49,600 shares |
| NII | 7,10,400 shares | 4,03,200 shares |
| RII | 16,57,600 shares | 9,43,200 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 47,20,000 shares | 26,85,600 shares |
Exim Routes IPO subscribed 10.67x in total, whereas Mehul Telecom IPO subscribed 31.71x.
| Exim Routes IPO | Mehul Telecom IPO | |
|---|---|---|
| QIB (times) | 19.11x | 32.50x |
| NII (times) | 22.43x | 79.38x |
| Big NII (times) | 27.73x | 96.42x |
| Small NII (times) | 12.02x | 45.29x |
| RII (times) | 9.94x | 37.41x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 10.67x | 31.71x |
