Horizon Reclaim (India) IPO- Company Analysis
Horizon Reclaim (India) IPO under the SME IPO category is a bookbuild issue of Rs. 54.27 Cr by Horizon Reclaim (India) Limited and manufactures reclaimed rubber, which is recycled rubber made from tread peelings, rubber tubes, old tires, and industrial debris.
Product Line:
-
Natural rubber reclaim.
-
Reclaimed synthetic rubber.
-
Rubber crumbs.
Horizon Reclaim (India) IPO Details
The Horizon Reclaim (India) IPO date of opening is 12 Jun 2026, its initial public offering will end on 16 Jun, IPO allotment on Jun 17 and refund initiation on Jun 18, 2026.
The Rs. 54.27 crore new SME IPO comprises a wholly fresh issue of 0.53 crore shares.
The Horizon Reclaim (India) IPO listing date (expected) might be Friday, Jun 19, 2026, and listing at the BSE and SME.
The Horizon Reclaim (India) IPO price band is Rs. 98 to Rs. 103.
IPO Timetable (Tentative)
|
Events |
Date |
|
IPO Opening Date |
Jun 12, 2026 |
|
IPO Closing Date |
Jun 16, 2026 |
|
IPO Allotment Date |
Jun 17, 2026 |
|
Refund Initiation |
Jun 18, 2026 |
|
IPO Listing Date |
Jun 19, 2026 |
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Company Financials
(Amount in Cr)
|
Particulars |
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 |
— |
Cash Flows
(Amount in lac)
|
Net Cash Flow |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Net Cash Flow Operating Activities |
1,009.34 |
171.31 |
148.95 |
|
Net Cash Flow Investing Activities |
(3,464.81) |
(1,174.02) |
(171.90) |
|
Net Cash Flow Financing Activities |
2,460.06 |
983.86 |
(0.11) |
Revenue Bifurcation
(Rs. in Lac)
(Source: RHP)
The Objective of the Issue
The company desires to use the Net Proceeds from the Issue to fulfill its following goals:
-
Funding the working capital requirements of the Company. ~ Rs. 6 Cr.
-
Pre-payment or Repayment of all or a portion of certain outstanding borrowings availed by the Company. ~Rs. 26.70 Cr.
-
Funding Capital Expenditure for the installation of additional Plant & Machinery. ~ Rs. 9.43 Cr.
-
General Corporate Purposes.
Listed Peers of Horizon Reclaim (India) Ltd.
|
Name of Company |
Face Value (Rs. ) |
Basic EPS (₹) |
PE Ratio (x) |
|
Lead Reclaim and Rubber Products Limited |
10 |
4.73 |
19.04 |
Valuation
|
KPI |
Value (Mar 31, 2026) |
|
RoE |
53.63% |
|
ROCE |
25.45% |
|
Debt/Equity |
1.44 |
|
RoNW |
42.29% |
|
PAT Margin |
21.25% |
|
EBITDA Margin |
32.64% |
|
Price to Book Value |
5.91 |
Evaluation of P/E Ratio
Considering the period ended on FY 2025 with an EPS of Rs. 4.96 from the last year, the resulting P/E ratio is 20.76x.
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IPO's Strengths
-
In-house production plant with a technology-driven approach.
-
Long-Term Customer Relationships and a Diverse Customer Base.
-
Promoter directors with a wealth of industry knowledge and experience.
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Strict Quality Assurance: Maintaining Consistent Product Quality.
IPO's Weaknesses
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Dependency on technology and processes.
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Variability in the composition of waste tires could affect the consistency of the final product's attributes.
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In high-performance applications, limited acceptance.
Horizon Reclaim (India) IPO GMP (Grey Market Premium)
Horizon Reclaim (India) IPO GMP today has not started yet, as of 06 June 2026, while writing this information.
Horizon Reclaim (India) IPO Summary
|
IPO Opening & Closing Date |
12 Jun, 2026 to 16 Jun, 2026 |
|
Face Value |
Rs. 10 per Share |
|
Issue Price |
Rs. 98 to Rs. 103 per Share. |
|
Lot Size |
1200 Shares |
|
Issue Size |
52,69,200 Shares (Rs. 54 Cr) |
|
Offer for Sale |
- |
|
Fresh Issue |
50,05,200 Shares (Rs. 52 Cr) |
|
Listing at |
BSE, SME |
|
Issue Type |
Book build Issue |
|
Registrar |
Kfin Technologies Ltd. |
IPO Lot Details
Retail investors can invest in a minimum and maximum of 2 Lots (2400 Shares) for Rs. 2,47,200, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (3600 Shares) for Rs. 3,70,800.
|
Minimum Lot Investment (Retail) |
2 Lots |
|
Maximum Lot Investment (Retail) |
2 Lots |
|
HNI (Min) |
3 Lots |
Horizon Reclaim (India) IPO Allotment Status
To check the Horizon Reclaim (India) IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.
Using BSE Website - BSE IPO allotment status
Promoters And Management of Horizon Reclaim (India) Ltd.
-
Mohit Bajaj
-
Malika Bajaj
|
Pre-Issue Promoter Shareholding |
95.84% |
|
Post-Issue Promoter Shareholding |
- |
IPO Lead Managers
GYR Capital Advisors Pvt. Ltd.
Dividend Policy
The company has not paid a dividend during the last three financial years.
Conclusion
With increasing revenue, good profitability, and outstanding return ratios, Horizon Reclaim (India) Limited has produced solid financial growth, demonstrating a scalable and high-margin company strategy. Given the company's growth potential, AI-focused products, and solid industry positioning, the IPO's P/E ratio of 23.15x seems fair.
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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is only for educational purposes. Always discuss with your SEBI-registered financial advisor for investment-related decisions.
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