Key facts
- Horizon Reclaim's IPO is open for subscription from June 14 to June 16.
- The company plans to raise Rs 54.3 crore through the issuance of 52.69 lakh shares.
- The price band is set at Rs 98-103 per share.
- A grey market premium of approximately 49% suggests a potential listing price of Rs 153.
- Funds raised will be allocated to debt repayment, working capital, and manufacturing capacity expansion.
- The shares are expected to list on the BSE SME platform on June 19.
Horizon Reclaim's Initial Public Offering (IPO) commenced on Friday, seeking to raise Rs 54.3 crore. The company has set a price band of Rs 98 to Rs 103 per share for its issue, which includes a fresh issue of 52.69 lakh shares. The grey market premium (GMP) is reportedly around 49% over the upper price band, suggesting a potential listing price of approximately Rs 153 per share.
The subscription window for the IPO will remain open until June 16, with the shares slated for listing on the BSE SME platform on June 19. Investors can apply for a minimum of 2,400 shares, requiring a minimum investment of Rs 2.47 lakh for retail investors at the upper price band.
Of the total funds raised, Rs 26.7 crore is earmarked for repaying or prepaying borrowings, Rs 9.43 crore for installing additional plant and machinery, and Rs 6 crore for working capital needs. The company manufactures reclaimed rubber products, including natural rubber reclaim, synthetic rubber reclaim, and crumb rubber, serving sectors like footwear, automotive, and construction.
Horizon Reclaim reported a revenue of Rs 50.01 crore and a profit after tax of Rs 10.5 crore for the fiscal year 2026, showing significant growth from the previous year. The IPO is seen as benefiting from increasing investor interest in recycling and circular economy-linked businesses.