Horizon Reclaim (India) IPO
Plantation & Plantation Products • ₹54.27 Cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- Working capital or debt pressure highlighted in DRHP
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹103
Lot Size
1200 shares
Issue Size
₹54.27 Cr
Open
12 Jun 2026
Close
16 Jun 2026
Subscription
236×
IPO Schedule
| Issue Open Date | 12 Jun 2026 |
| Issue Close Date | 16 Jun 2026 |
| Listing Date | 18 Jun 2026 |
About Horizon Reclaim (India)
Horizon Reclaim (India) Limited is a manufacturer of reclaimed rubber, which is produced by recycling used rubber materials such as tyres, tubes, tread peelings, and industrial rubber scrap. The company offers a range of products including natural reclaim rubber, synthetic reclaim rubber (EPDM and butyl reclaim rubber), and crumb rubber. These products are used in applications such as footwear soles, floor mats, automotive seals, hoses, gaskets, conveyor belts, road construction, sports surfaces, and other rubber-based products. The company sources raw materials from tyre dismantlers, waste collectors, scrap dealers, and imported suppliers. As of March 31, 2026, Horizon Reclaim operated a manufacturing facility in Roorkee, Uttarakhand, with an installed production capacity of 14,100 metric tonnes per annum. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Funding the working capital requirements of the company — Rs 6 crore Pre-payment or repayment of all or a portion of certain outstanding borrowings availed by the company — Rs 26.7 crore Funding capital expenditure for the installation of additional plant & machinery — Rs 9.43 crore General corporate purposes
Company Details
Founders / Promoters
Mr Mohit Bajaj
Founded
2006
Registrar
KFin Technologies Ltd
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Horizon Reclaim (India) — IPOFins Verdict
QuantitativeDriven by QIB demand at 134.3x and elevated disclosed risk (7/10), Horizon Reclaim (India) listed at a premium of 46.6% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
- The company operates a reclaimed rubber manufacturing facility in Haridwar, Uttarakhand, with an installed production capacity of 14,100 metric tonnes per annum as of March 31, 2026. It claims to have
- Horizon Reclaim serves customers across multiple end-use industries, including automotive, footwear, sports surfaces, flooring, mats, and construction. The company also has a geographically diversifie
- The company has maintained repeat business over the years. Repeat customers accounted for approximately 49.26% of total customers in FY26, 49.56% in FY25, and 55.13% in FY24, indicating continued busi
- The company claims to have an in-house testing laboratory for inspecting raw materials and finished products. It follows quality control procedures throughout the manufacturing process and conducts ba
- The company is ISO 9001:2015 certified for Quality Management Systems, ISO 14001:2015 certified for Environmental Management Systems, and ISO 45001:2018 certified for Occupational Health and Safety Ma
Score breakdown — what drove this verdict
High risk from DRHP → score -0.8
Institutional subscription → score +2.0
Strong retail interest → score +0.5
Actual listing outcome → score +1.5
SME IPOs have lower liquidity after listing → score −0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹103
Listing Price
₹151
Listing Gain/Loss
+46.60%
Listing Date
18 Jun 2026
Price Since Listing
Returns are measured against the ₹103 issue price.
Listing
₹151
+46.6%
1 Week
₹140
+35.9%
1 Month
₹155.9
+51.4%
Current
₹139.25
+35.2%
Want to buy this stock?
Trade Horizon Reclaim (India) on the secondary market
FAQ
What is the price band of Horizon Reclaim (India) IPO?
The price band is ₹103 per share with a lot size of 1200 shares. Minimum investment: ₹1,23,600.
What does Horizon Reclaim (India) do?
Horizon Reclaim (India) Limited is a manufacturer of reclaimed rubber, which is produced by recycling used rubber materials such as tyres, tubes, tread peelings, and industrial rubber scrap. The company offers a range of products including natural reclaim rubber, synthetic reclaim rubber (EPDM and butyl reclaim rubber), and crumb rubber. These products are used in applications such as footwear soles, floor mats, automotive seals, hoses, gaskets, conveyor belts, road construction, sports surfaces, and other rubber-based products. The company sources raw materials from tyre dismantlers, waste collectors, scrap dealers, and imported suppliers. As of March 31, 2026, Horizon Reclaim operated a manufacturing facility in Roorkee, Uttarakhand, with an installed production capacity of 14,100 metric tonnes per annum. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Funding the working capital requirements of the company — Rs 6 crore Pre-payment or repayment of all or a portion of certain outstanding borrowings availed by the company — Rs 26.7 crore Funding capital expenditure for the installation of additional plant & machinery — Rs 9.43 crore General corporate purposes
Should I apply for Horizon Reclaim (India) IPO?
Horizon Reclaim (India) listed at ₹151 (+46.6% premium to the ₹103 issue price) after 235.9x subscription. IPOFins Score 8/10: Driven by QIB demand at 134.3x and elevated disclosed risk (7/10), Horizon Reclaim (India) listed at a premium of 46.6% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
Who founded Horizon Reclaim (India)?
Horizon Reclaim (India) was founded by Mr Mohit Bajaj in 2006.