Horizon Reclaim IPO
Market Sentiment
The overall score is a weighted average of the parts below, so one weak part can sit inside a strong overall reading.
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 4 | Day 5 |
|---|---|---|---|
| QIB | 0.00x | 0.08x | 186.72x |
| NII | 9.35x | 103.64x | 451.08x |
| bNII > ₹10L | 12.63x | 140.07x | 451.08x |
| sNII 2-10L | 12.63x | 140.07x | 451.08x |
| Retail | 11.37x | 90.39x | 308.20x |
| Total | 7.81x | 69.98x | 304.13x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| 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 |
Peer Comparison
| Company | EPS | P/E |
|---|---|---|
| Lead Reclaim and Rubber Products Limited | 4.73 | 19.04 |
Promoters & Holding Pattern
Promoters: Mohit Bajaj and Malika Bajaj
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,42,46,200 | 95.84% |
Strengths & Risks
- Heavily oversubscribed — 304.1x overall (so far).
- Strong institutional (QIB) demand — 186.7x.
- 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.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Horizon Reclaim
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.
Company Contact Information
Horizon Reclaim (India) Ltd., Khasra no. 9,, Dehradun Road, Near Nirankari Bhawan, Village – Kumar Hera,, Saharanpur, Uttar Pradesh, 247001
Objects of the Issue
| 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
Anchor Investors
Horizon Reclaim IPO - Quick Take
Horizon Reclaim has set a price band of Rs 98–Rs 103 per share for an issue size of Rs 54 crore. The stock listed with a 46.60% gain versus its issue price on June 19, 2026.
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).
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.
On our data-signal score, the combined signals for this issue currently read strong — the composite picture tilts positive, though not without some caveats. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Horizon Reclaim IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was 52.4%. Of the 32 SME IPOs we have tracked with a final GMP of 25% or more, 32 listed above, 0 flat and 0 below the issue price; Horizon Reclaim listed 46.6% above its issue price.
See the full Horizon Reclaim GMP history and trend, or learn how grey market premium works and how reliable it is.
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