Horizon Reclaim (India) SME: Check IPO Date, Live Subscription and Key Details
Horizon Reclaim (India) Limited, incorporated in 2006, specializes in the industrial recycling and manufacturing of high-quality reclaimed rubber products. The company converts discarded rubber materials—such as old scrap tires, inner tubes, tread peelings, and industrial rubber residues—into eco-friendly, value-added rubber compounds. Its comprehensive product array features Natural Rubber Reclaim (utilized in footwear soles, floor mats, and tire manufacturing underlayers), Synthetic Rubber Reclaim (including premium EPDM and Butyl rubber grades for automotive weather strips, hoses, and gaskets), and Crumb Rubber used in modified asphalt paving, athletic fields, and roofing applications. Operating primarily on a B2B framework, the company serves small, medium, and large industrial clients across India's northwestern region.
Price Range
₹98.0 - ₹103.0
Issue Size
₹54.27 Cr
Lot Size
1,200 shares
IPO Type
BSE SME
GMP
-
Est. Listing Price
₹103
Estimate Profit
-
Retail Portion
35.00%
Key Metrics
Check Live GMPGMPFace Value
₹10
EPS
5.38
P/E Ratio
19.14
RoNW
42.29%
ROE
53.63%
Debt to Equity
1.44
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Timeline
IPO Opens
12 Jun
IPO Closes
16 Jun
Allotment
17 Jun
Listing
19 Jun
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 12 June 2026 | Subscription starts |
| IPO Close Date | 16 June 2026 | Subscription ends |
| Allotment Date | 17 June 2026 | Allotment |
| Listing Date | 19 June 2026 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹2,47,200 |
SHNI (Min) | 3 | ₹3,70,800 |
SHNI (Max) | 8 | ₹9,88,800 |
BHNIAbove ₹10,00,000 | 9 | ₹11,12,400 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 49.99% |
| NII (Non-Institutional Investor) | 15.01% |
| SHNI (Small Non-Institutional Investor) | 4.76% |
| BHNI (Big Non-Institutional Investor) | 9.50% |
| Retail | 35.00% |
| Market Maker | 5.01% |
| Total | 100.00% |
IPO Objectives
- Pre-payment or Repayment, in full or in part, of certain outstanding borrowings availed by the Company (₹26.70 Cr).
- Funding Capital Expenditure requirements for the installation of additional Plant & Machinery assets (₹9.43 Cr).
- Funding ongoing incremental working capital requirements of the Company (₹6.00 Cr).
- General Corporate Purposes.
Strengths
- The company delivers **High Profitability Metrics**, generating a remarkable operational performance with a notable net PAT margin of **21.25%** and a solid EBITDA margin of **32.64%** in FY26.
- It demonstrates **Excellent Pre-IPO Efficiency**, showcasing highly productive equity utilization with a restated financial Return on Equity (ROE) of **53.63%** and an active Return on Net Worth (RoNW) of **42.29%**.
- The business leverages **Product Stack Diversity**, maintaining a broad product mix crossing custom Natural Rubber, technical Synthetic Reclaims (EPDM/Butyl), and Crumb Rubber lines that cater to diverse high-growth sectors.
- It focuses on a **Productive Allocation Blueprint**, ensuring that over 85% of fresh public capital proceeds are cleanly targeted directly at de-leveraging the balance sheet through debt prepayment and building core capacity via machinery acquisition.
Weaknesses
- The company carries a **Significant Leverage Footprint**, managing an aggressive outstanding debt burden of **₹35.76 Cr** against a net worth base of ₹24.83 Cr, yielding a high debt-to-equity leverage layer of **1.44**.
- The firm faces **Geographic Revenue Concentration**, as its distribution tunnels and key SME client accounts remain predominantly concentrated within the northwestern region of India, leaving it vulnerable to regional, localized demand shocks.
- It operates within a **Highly Contested Industry Niche**, navigating a deeply fragmented, heavily unorganized, and price-sensitive domestic scrap-rubber processing ecosystem, which restricts generic long-term pricing power.
- The issue is met with a **Quiet Gray Market Warmup**, with unofficial gray market attention initially opening flat with a tracking premium of **₹0**, indicating highly cautious local investor sentiment ahead of its launch window.
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Financial Performance
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets (₹ Cr.) | 64.88 | 26.08 | 8.45 |
| Revenue (₹ Cr.) | 50.01 | 36.39 | 20.44 |
| PAT (₹ Cr.) | 10.5 | 7.07 | 0.71 |
| Net Worth (₹ Cr.) | 24.83 | 14.33 | 7.26 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Horizon Reclaim (India) | 5.91 | 19.14 | 53.63% | 24.83 |
| Lead Reclaim and Rubber | 2.86 | 16.91 | 16.93% | 20.03 |
Subscription Details
No daily bids available.
No subscription statistics available.
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Company Details
- Horizon Reclaim (India) Ltd.
- Khasra no. 9, Dehradun Road, Near Nirankari Bhawan, Village - Kumar Hera, Saharanpur, Uttar Pradesh, 247001
- +91 8171000900
- cs@horizonreclaim.com
- https://www.horizonreclaim.com/
Registrar Details
- Kfin Technologies Ltd.
- 04067162222, 04079611000
- horizonrec.ipo@kfintech.com
- https://ipostatus.kfintech.com/
Frequently Asked Questions
What does Horizon Reclaim (India) do?
Horizon Reclaim (India) is a rubber recycling company that processes waste rubber materials such as used tyres and scrap rubber into products including reclaimed rubber and crumb rubber.
What are the IPO dates for Horizon Reclaim (India) SME IPO?
The Horizon Reclaim (India) SME IPO will open for subscription on June 12, 2026, and close on June 16, 2026.
What is the price band and minimum investment for Horizon Reclaim (India) IPO?
The IPO price band is fixed at ₹98 to ₹103 per share. Retail investors need to apply for a minimum of 2 lots (2,400 shares), requiring an investment of ₹2,47,200 at the upper price band.
What is the Grey Market Premium (GMP) of Horizon Reclaim (India) IPO today?
As of June 6, 2026, the Grey Market Premium (GMP) of Horizon Reclaim (India) IPO is ₹0, indicating an expected listing price near ₹103 per share.
Where will Horizon Reclaim (India) IPO be listed?
Horizon Reclaim (India) IPO is proposed to be listed on BSE SME, with the tentative listing date set for June 19, 2026.
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