Horizon Reclaim (India) IPO
Bookbuilding IPO | ₹54.00 Cr | Listing at BSE SME
Closed
IPO Open
Fri, Jun 12, 2026
IPO Close
Tue, Jun 16, 2026
Price Band
₹98.00 to ₹103.00
Market Cap (Pre-IPO)
₹201.01 Cr
IPO Details
| IPO Date | Jun 12, 2026 to Jun 16, 2026 |
| Listing Date | Tentative: Jun 19, 2026 |
| Face Value | ₹10.00 per share |
| Price Band | ₹98.00 to ₹103.00 |
| Lot Size | 1200 Shares (Minimum: ₹123,600.00) |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Issue Size | ₹54.00 Crores |
| Total Shares Offered | 5,269,200 shares |
| Fresh Issue | 5,005,200 shares |
| Offer For Sale | 5,269,200 shares |
Horizon Reclaim (India) IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 25,02,000 |
| Retail Shares Offered | 17,52,000 |
| NII Shares Offered | 7,51,200 |
Horizon Reclaim (India) IPO Lot Size
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹247,200 |
| Retail (Max) | 2 | 2,400 | ₹247,200 |
| S-HNI (Min) | 3 | 3,600 | ₹370,800 |
| S-HNI (Max) | 8 | 9,600 | ₹988,800 |
| B-HNI (Min) | 9 | 10,800 | ₹1,112,400 |
Horizon Reclaim (India) Financial Information (Restated Consolidated)
Horizon Reclaim (India) Ltd.'s revenue increased by 37% and profit after tax (PAT) rose by 49% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 64.88 | 26.08 | 8.45 |
| Total Income | 50.01 | 36.39 | 20.44 |
| Profit After Tax | 10.50 | 7.07 | 0.71 |
| EBITDA | 16.32 | 10.46 | 1.17 |
| NET Worth | 24.83 | 14.33 | 7.26 |
| Reserves and Surplus | 10.58 | 0.08 | 6.51 |
| Total Borrowing | 35.76 | 10.03 | - |
Amount in ₹ Cr
Key Performance Indicators
As of Tuesday, March 31, 2026| KPI | Values |
|---|---|
| ROE (Return on Equity) | 53.63% |
| ROCE (Return on Capital Employed) | 25.45% |
| Debt/Equity | 1.44 |
| RoNW (Return on Net Worth) | 42.29% |
| PAT Margin (Profit After Tax Margin) | 21.25% |
| EBITDA Margin | 32.64% |
| Price to Book Value | 5.91 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 7.37 | 5.38 |
| P/E (x) | 13.97 | 19.14 |
| Promoter Holding | 95.84% | - |
Company Promoters
- Mohit Bajaj and Malika Bajaj
Company Overview
Horizon Reclaim (India) – Company Overview
- Incorporated in 2006, Horizon Reclaim (India) Ltd. is engaged in the manufacturing of reclaimed rubber by recycling used tyres, rubber tubes, tread peelings, and industrial rubber waste.
Core Segments
- Natural Rubber Reclaim
- Synthetic Rubber Reclaim
- Crumb Rubber
- The company converts waste rubber into reusable industrial raw materials, supporting sustainable manufacturing and recycling initiatives.
Product Portfolio
- Natural Rubber Reclaim: Used in footwear soles, floor mats, tyre base layers, and moulded rubber products.
- Synthetic Rubber Reclaim: Includes EPDM and Butyl rubber used in automotive seals, hoses, gaskets, and construction profiles.
- Crumb Rubber: Used in road construction, sports surfaces, playground flooring, and roofing applications.
- Products are offered in various grades and specifications based on customer requirements and end-use industries.
- The company follows a B2B business model, supplying reclaimed rubber products to SMEs and industrial customers.
- Horizon Reclaim primarily serves customers in the automotive, construction, footwear, and rubber products industries, with a strong presence in the northwestern region of India.
Company Strengths
- In-house manufacturing facility supported by technology driven process
- Diversified Customer Base and Long-Standing Customer Relationships
- Experienced Promoter Directors with Strong Industry Expertise
- Stringent Quality Control Ensuring Standardized Product Quality
Use of Proceeds
| 1) | Funding the working capital requirements of our Company | 6.00 |
| 2) | Pre-payment or Repayment of all or a portion of certain outstanding borrowings availed by our Company | 26.70 |
| 3) | Funding Capital Expenditure for the installation of additional Plant & Machinery | 9.43 |
| 4) | General Corporate Purposes | |
| Total | 42.13 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Horizon Reclaim (India) IPO Peer Comparison
Horizon Reclaim (India) peer comparison with similar listed entities. (As on March 31, 2026)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Horizon Reclaim (India) Ltd. | 7.37 | 7.37 | 17.43 | - | 42.29 | - | - |
| Lead Reclaim and Rubber Products Limited | 4.73 | 4.73 | 27.96 | 19.04 | 10.27 | 3.32 | - |
| Tinna Rubber And Infrastructure Ltd | 29.68 | 29.67 | - | 26.50 | 17.59 | - | - |
| Grp Ltd | 6.04 | 6.04 | - | 282.83 | 1.81 | - | - |
Quick Info
| Sector | Rubber Recycling and Manufacturing |
| Exchange | BSE SME |
| Market Cap (Pre-IPO) | ₹201.01 Cr |
Important Dates
| IPO Open | Jun 12, 2026 |
| IPO Close | Jun 16, 2026 |
| Allotment Date | Jun 17, 2026 |
| Credit to Demat | Jun 18, 2026 |
| Listing Date | Tentative: Jun 19, 2026 |
Lead Manager(s)
GYR Capital Advisors Pvt.Ltd.
Registrar
Kfin Technologies Ltd.
04067162222, 04079611000
Description
- IPO Type: Book build issue aggregating to ₹54.27 crores.
- Issue Structure: Entirely a fresh issue of 0.53 crore shares totaling ₹54.27 crores.
- IPO Dates: The issue opens on June 12, 2026 and closes on June 16, 2026.
- Allotment Date: Expected to be finalized on June 17, 2026.
- Listing Details: Shares are proposed to be listed on the SME platform of BSE Limited (BSE SME) with a tentative listing date of June 19, 2026.
- Retail Investment Requirement: Minimum 2 lots (2,400 shares) amounting to approximately ₹2,47,200 (at the upper price band).
- HNI Investment Requirement: Minimum 3 lots (3,600 shares) totaling around ₹3,70,800.
- IPO Price Band: ₹98 to ₹103 per equity share.
- Lot Size: 1,200 shares per lot.