Horizon Reclaim IPO was the SME public issue of Horizon Reclaim (India) Limited, a company engaged in the recycling and manufacturing of reclaimed rubber products. The company focuses on processing waste rubber materials and converting them into reusable rubber compounds used for industrial applications.
The company operates in the rubber recycling sector and provides products that are used by industries requiring rubber-based materials. Its operations involve collection and processing of rubber waste, manufacturing of reclaimed rubber, quality testing, and supply of finished products to customers.
The demand for reclaimed rubber is supported by increasing focus on sustainable manufacturing, recycling practices, and the requirement for cost-effective alternative raw materials in rubber-based industries.
The rubber recycling industry serves multiple applications, including tyre manufacturing, automotive components, industrial rubber products, and other rubber-related sectors. However, companies operating in this segment face challenges related to raw material availability, quality consistency, competition, and market demand fluctuations.
This article provides complete information about Horizon Reclaim IPO, including IPO details, issue size, price, subscription status, allotment status, listing performance, company overview, financial information, strengths, risks, registrar details, conclusion, and FAQs.
Horizon Reclaim IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Horizon Reclaim IPO |
| Company Name | Horizon Reclaim (India) Limited |
| IPO Status | Listed |
| IPO Type | Book Building Issue |
| Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹98 to ₹103 Per Share |
| Issue Price | ₹103 Per Share |
| Issue Size | ₹54.27 Crore |
| Fresh Issue | 52,69,000 Equity Shares |
| Offer for Sale | Nil |
| Total Issue Size | 52,69,000 Equity Shares |
| IPO Opening Date | 12 June 2026 |
| IPO Closing Date | 16 June 2026 |
| Basis of Allotment | 17 June 2026 |
| Initiation of Refunds | 18 June 2026 |
| Credit of Shares to Demat Account | 18 June 2026 |
| Listing Date | 19 June 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 1,200 Shares |
| Minimum Investment | ₹1,23,600 |
| Registrar | KFin Technologies Limited |
| Lead Manager | GYR Capital Advisors Private Limited |
Horizon Reclaim IPO was issued through the SME platform and consisted of a fresh issue of equity shares. The company planned to utilize the funds raised through the IPO for business requirements, working capital needs, expansion activities, and other corporate purposes.
Horizon Reclaim IPO Dates & Timeline
Horizon Reclaim IPO followed the SME IPO process, beginning with the subscription period and ending with the listing of equity shares on the BSE SME platform. After the issue closed, the company completed the allotment process, initiated refunds, credited shares to successful investors, and completed listing formalities.
| IPO Event | Date |
|---|---|
| IPO Opening Date | 12 June 2026 |
| IPO Closing Date | 16 June 2026 |
| Basis of Allotment | 17 June 2026 |
| Initiation of Refunds | 18 June 2026 |
| Credit of Shares to Demat Account | 18 June 2026 |
| Listing Date | 19 June 2026 |
Horizon Reclaim IPO Reservation
The IPO followed the SME IPO reservation structure, where shares were allocated among investor categories according to applicable guidelines.
| Investor Category | Reservation |
|---|---|
| Retail Individual Investors (RII) | 35% of the Net Issue |
| Non-Institutional Investors (NII) | 15% of the Net Issue |
| Other Investors | 50% of the Net Issue |
| Qualified Institutional Buyers (QIB) | Not Applicable |
| Employee Reservation | Not Applicable |
| Market Maker Portion | 2,64,000 Equity Shares |
The final allocation was completed based on the valid applications received during the subscription period.
Horizon Reclaim IPO Lot Size
The lot size represents the minimum number of shares an investor could apply for during the IPO.
| Application Category | Shares | Investment Amount |
|---|---|---|
| Retail Minimum | 1,200 Shares | ₹1,23,600 |
| Retail Maximum | 1,200 Shares | ₹1,23,600 |
| HNI Minimum | 2,400 Shares | ₹2,47,200 |
The minimum investment amount was calculated based on the upper issue price of ₹103 per share.
Horizon Reclaim IPO Promoter Holding
| Shareholding | Percentage |
|---|---|
| Promoter Holding Before IPO | 99.99% |
| Promoter Holding After IPO | 73.00% |
The promoter holding reduced after the IPO due to dilution following the issue of fresh equity shares.
Horizon Reclaim IPO GMP
Grey Market Premium (GMP) represents unofficial market sentiment before listing. It is not an official indicator of the company’s share price or listing performance.
| Particular | Details |
|---|---|
| IPO Issue Price | ₹103 |
| Latest GMP | ₹0 |
| Estimated Listing Price | ₹103 |
| Estimated Listing Gain | 0% |
The actual market performance after listing depends on investor demand, company fundamentals, and broader market conditions.
Horizon Reclaim IPO Subscription Status
Horizon Reclaim IPO received investor participation from different categories during the subscription period.
| Category | Subscription |
|---|---|
| Retail Individual Investors (RII) | 1.37x |
| Non-Institutional Investors (NII) | 1.65x |
| Total Subscription | 1.51x |
The subscription figures represent the demand received during the IPO bidding period.
Horizon Reclaim IPO Allotment Status
The allotment process was completed after the IPO closing date. The registrar finalized investor allocation and completed refund and share credit procedures.
| Particular | Details |
|---|---|
| IPO Closing Date | 16 June 2026 |
| Basis of Allotment | 17 June 2026 |
| Refund Initiation | 18 June 2026 |
| Shares Credited to Demat Account | 18 June 2026 |
| Registrar | KFin Technologies Limited |
| Allotment Status | Completed |
Investors who received allotment were credited shares before the listing date, while unsuccessful applicants received refunds as per the IPO schedule.
Horizon Reclaim IPO Listing Performance
Horizon Reclaim (India) Limited shares were listed on the BSE SME platform on 19 June 2026.
| Particular | Details |
|---|---|
| IPO Issue Price | ₹103 |
| Listing Price | ₹112 |
| Listing Gain | ₹9 Per Share |
| Listing Gain Percentage | 8.74% |
| Listing Day Closing Price | ₹112 |
| Listing Day Return | 8.74% |
The shares listed above the issue price, providing positive listing returns for investors who received allotment.
About Horizon Reclaim (India) Limited
Horizon Reclaim (India) Limited operates in the rubber recycling and reclaimed rubber manufacturing segment. The company focuses on processing waste rubber materials and converting them into reusable rubber products used by different industrial customers.
The company manufactures reclaimed rubber by utilizing waste rubber resources and applying recycling processes to create alternative raw materials for rubber-based industries. Its products are used by manufacturers that require rubber compounds for various applications.
The company’s operations involve sourcing waste rubber materials, processing and recycling activities, quality testing, production management, and supplying finished reclaimed rubber products to customers.
The reclaimed rubber industry supports sustainable manufacturing practices by reducing dependence on fresh rubber resources and promoting the reuse of rubber waste. Increasing focus on environmental sustainability and cost-effective manufacturing solutions creates opportunities for companies operating in this segment.
However, businesses in this sector face challenges such as availability of quality raw materials, fluctuations in demand, competition, and maintaining consistent product quality.
Business Model of Horizon Reclaim (India) Limited
Horizon Reclaim (India) Limited follows a manufacturing-focused business model based on recycling rubber waste into value-added reclaimed rubber products.
The company’s business operations include:
. Rubber Waste Processing – The company processes discarded rubber materials and converts them into reusable rubber compounds.
. Manufacturing of Reclaimed Rubber – The company manufactures reclaimed rubber products used as alternative raw materials in rubber-based industries.
. Quality Management – The company focuses on maintaining product quality through testing and production controls.
. Industrial Supply Model – The company supplies reclaimed rubber products to customers involved in rubber manufacturing and related industries.
. Sustainable Manufacturing Approach – The company’s operations support recycling practices by reducing rubber waste and promoting resource efficiency.
Products and Services
Horizon Reclaim (India) Limited manufactures reclaimed rubber products used across different industrial applications.
The company’s product portfolio includes:
- Reclaimed rubber compounds.
- Recycled rubber materials.
- Rubber-based industrial products.
- Alternative rubber raw materials for manufacturing applications.
The company’s products are used by industries that require rubber materials for production processes.
Industry Overview
The rubber recycling industry plays an important role in supporting sustainable manufacturing and reducing industrial waste. Reclaimed rubber provides an alternative material option for manufacturers by allowing reuse of waste rubber products.
Demand opportunities for the sector are supported by:
- Growth of automotive and tyre industries.
- Increasing focus on recycling and sustainability.
- Requirement for cost-effective rubber materials.
- Expansion of industrial manufacturing activities.
- Environmental regulations encouraging waste management.
The sector also faces certain challenges:
- Availability and quality of waste rubber materials.
- Competition from other rubber material suppliers.
- Fluctuation in raw material prices.
- Need for continuous improvement in recycling technology.
- Dependence on demand from rubber-consuming industries.
Horizon Reclaim IPO Financial Information
Horizon Reclaim (India) Limited has reported financial performance based on its manufacturing and recycling operations.
Statement of Assets, Liabilities and Equity
| Particulars (₹ in Crore) | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Total Assets | 55.84 | 41.72 | 32.46 |
| Total Borrowings | 14.28 | 11.64 | 9.18 |
| Total Liabilities | 27.35 | 21.84 | 17.26 |
| Share Capital | 12.50 | 12.50 | 12.50 |
| Reserves & Surplus | 16.49 | 7.38 | 2.70 |
| Net Worth | 28.99 | 19.88 | 15.20 |
The company showed improvement in its net worth position during the reported financial years.
Statement of Profit and Loss
| Particulars (₹ in Crore) | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Revenue from Operations | 92.46 | 75.82 | 58.34 |
| EBITDA | 14.62 | 11.18 | 8.24 |
| Profit Before Tax (PBT) | 9.84 | 7.26 | 5.18 |
| Profit After Tax (PAT) | 7.32 | 5.42 | 3.86 |
| EBITDA Margin | 15.81% | 14.74% | 14.12% |
| PAT Margin | 7.92% | 7.15% | 6.62% |
The company recorded growth in revenue and profitability during the reported period.
Horizon Reclaim IPO Key Financial Ratios
| Financial Ratio | Value |
|---|---|
| Earnings Per Share (EPS) | ₹8.56 |
| Price to Earnings (P/E) Ratio | 12.03x |
| Return on Net Worth (RoNW) | 25.25% |
| Net Asset Value (NAV) | ₹33.94 |
| Return on Capital Employed (ROCE) | 22.18% |
| EBITDA Margin | 15.81% |
| PAT Margin | 7.92% |
| Debt-to-Equity Ratio | 0.49 |
These ratios provide an overview of the company’s profitability, financial position, and operational efficiency. Investors should evaluate these figures along with industry conditions and associated business risks.
Objects of the Issue
The funds raised through Horizon Reclaim IPO were intended to be utilized for:
- Meeting working capital requirements.
- Supporting business expansion activities.
- Strengthening manufacturing capabilities.
- General corporate purposes.
- Meeting issue-related expenses.
The IPO proceeds were aimed at supporting the company’s operational requirements and future growth plans.
Horizon Reclaim IPO Strengths
Horizon Reclaim (India) Limited operates in the rubber recycling sector, which benefits from increasing focus on sustainable manufacturing and demand for alternative rubber materials. The company’s business model and industry opportunities provide potential growth areas.
. Presence in Rubber Recycling Industry – The company operates in a segment that supports sustainable manufacturing by converting waste rubber into reusable products.
. Growing Demand for Reclaimed Rubber – Increasing focus on cost-effective and environmentally friendly raw materials creates opportunities for reclaimed rubber manufacturers.
. Sustainable Business Model – The company’s recycling-focused operations support resource conservation and reduction of rubber waste.
. Multiple Industrial Applications – Reclaimed rubber products are used across tyre manufacturing, automotive components, industrial rubber products, and other sectors.
. Opportunity from Environmental Awareness – Growing emphasis on recycling and waste management can support long-term demand for recycled rubber products.
. Manufacturing Capability – The company’s production processes and quality management systems support consistent product supply to customers.
Horizon Reclaim IPO Risk Factors
Investors should carefully consider the following risks before investing in Horizon Reclaim (India) Limited.
. Raw Material Availability Risk – The company depends on the availability of waste rubber materials. Any shortage or decline in quality may affect production.
. Competition Risk – The rubber recycling industry has competition from other reclaimed rubber manufacturers and alternative material suppliers.
. Raw Material Price Fluctuation Risk – Changes in the cost of rubber waste and other inputs may impact profit margins.
. Dependence on Rubber Industry Demand – The company’s growth depends on demand from industries such as tyres, automotive components, and rubber product manufacturers.
. Quality Control Risk – Maintaining consistent product quality is important in the rubber industry, and any quality issues may affect customer relationships.
. Environmental Compliance Risk – Recycling businesses need to comply with environmental regulations, which may increase operational requirements and costs.
Horizon Reclaim IPO Registrar Details
The registrar manages IPO-related activities including application processing, allotment finalization, refunds, share credit, and investor support services.
| Particular | Details |
|---|---|
| Registrar Name | KFin Technologies Limited |
| Website | www.kfintech.com |
| Email ID | [email protected] |
| Contact Number | 1800 309 4001 |
Horizon Reclaim IPO Conclusion
Horizon Reclaim IPO provided investors an opportunity to participate in a company operating in the rubber recycling and reclaimed rubber manufacturing segment.
The company benefits from increasing demand for sustainable manufacturing solutions, recycling practices, and alternative rubber materials. Its operations support industries that require cost-effective and reusable rubber products.
The reclaimed rubber industry has growth potential due to increasing environmental awareness, industrial demand, and the need for resource-efficient manufacturing solutions. However, investors should also consider risks related to raw material availability, competition, pricing pressure, and dependence on rubber-consuming industries.
A detailed evaluation of the company’s financial performance, valuation, business model, industry outlook, and future growth plans is important before making any investment decision.
Horizon Reclaim IPO FAQs
What is Horizon Reclaim IPO?
Horizon Reclaim IPO was the SME public issue of Horizon Reclaim (India) Limited, a company engaged in manufacturing reclaimed rubber products through recycling processes.
What was the price band of Horizon Reclaim IPO?
The price band of Horizon Reclaim IPO was ₹98 to ₹103 per equity share.
What was the issue price of Horizon Reclaim IPO?
The final issue price of Horizon Reclaim IPO was ₹103 per equity share.
What was the issue size of Horizon Reclaim IPO?
The total issue size of Horizon Reclaim IPO was ₹54.27 crore.
What was the lot size of Horizon Reclaim IPO?
The lot size of Horizon Reclaim IPO was 1,200 shares.
When was Horizon Reclaim IPO listed?
Horizon Reclaim (India) Limited shares were listed on the BSE SME platform on 19 June 2026.
What was the listing price of Horizon Reclaim IPO?
The shares were listed at ₹112 per share against the issue price of ₹103 per share.
What was the listing performance of Horizon Reclaim IPO?
The shares listed at a premium of approximately 8.74% over the issue price.
Who was the registrar of Horizon Reclaim IPO?
The registrar of Horizon Reclaim IPO was KFin Technologies Limited.
What were the objectives of Horizon Reclaim IPO?
The IPO proceeds were planned to be used for working capital requirements, business expansion, strengthening manufacturing capabilities, general corporate purposes, and issue-related expenses.
