Horizon Reclaim IPO
Market Sentiment
IPO Details
IPO Reservation
Market Lot Size
Return Estimator (GMP*)
Financial Analysis
| Metric | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue | 19.66 | 20.44 | 36.39 | 50.01 |
| Expense | 18.76 | 19.49 | 26.66 | 35.72 |
| Profit (PAT) | 0.67 | 0.71 | 7.07 | 10.50 |
| Total Assets | 7.71 | 8.45 | 26.08 | 64.88 |
Promoters: Mohit Bajaj and Malika Bajaj
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,42,46,200 | 95.84% |
Strengths & Risks
- Strong grey-market premium — +24% over the issue price.
- Grey-market premium is trending up during the bidding window.
- Revenue grew 37% in the latest reported year.
- Solid profit margin — 21.0%.
- Strong return on equity — 54%.
- Elevated leverage — debt/equity of 1.44.
Auto-generated from live GMP, subscription, valuation and financial data. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Horizon Reclaim (India) Ltd, founded in 2006, is one of the leading manufacturers of reclaimed rubber. It is recycled rubber made from used rubber material such as old tyres, rubber tubes, tread peelings, and industrial scrap. Its product portfolio includes 1) Natural Rubber Reclaim, which is used in footwear soles, floor mats, tyre base layers, and moulded rubber products. 2) Synthetic Rubber Reclaim, used in automotive seals, hoses, gaskets, and construction profiles, and 3) Crumb Rubber, used in road construction, sports surfaces, and roofing sheets. Its operations mostly run on a B2B model, serving small and medium enterprises and industrial customers. Moreover, its products can also be available in different grades as per the client’s requirements.
| Purpose | Amount (Cr) |
|---|---|
| Funding the working capital requirements of the Company | 6.00 |
| Pre-payment or Repayment of all or a portion of certain outstanding borrowings availed by our Company | 26.70 |
| Funding Capital Expenditure for the installation of additional Plant & Machinery | 9.43 |
| General Corporate Purpose | - |
Resources & Documents
Horizon Reclaim (India) Ltd., Khasra no. 9,, Dehradun Road, Near Nirankari Bhawan, Village – Kumar Hera,, Saharanpur, Uttar Pradesh, 247001
Horizon Reclaim has set a price band of Rs 98–Rs 103 per share for an issue size of Rs 54 crore. The SME issue is scheduled to open for subscription on June 12, 2026 — 2 days from now.
Horizon Reclaim (India) Ltd, founded in 2006, is one of the leading manufacturers of reclaimed rubber. It is recycled rubber made from used rubber material such as old tyres, rubber tubes, tread peelings, and industrial scrap.
The issue is promoted by Mohit Bajaj and Malika Bajaj with GYR Capital Advisors Pvt. Ltd. acting as lead manager. Net proceeds will primarily be used towards Funding the working capital requirements of the Company (Rs 6 crore) and Pre-payment or Repayment of all or a portion of certain outstanding borrowings availed by our Company (Rs 27 crore).
Grey market is quoting a premium of +Rs 25 (+24.3% over issue price), up Rs 20 from the previous session.
On fundamentals, the company is posting revenue growth of 37.4%, a profit margin of 21.0%, return on equity of 53.6% in its most recent reported period. Listed peers in this segment include Lead Reclaim and Rubber Products Limited (P/E 19.04x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
Our data-driven engine currently flags this issue as a Subscribe call — the composite picture tilts favourable, though not without some caveats. All figures below — GMP history, subscription tiers, financials and peers — are aggregated from public disclosures. Always apply through your own broker after reading the RHP.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
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