{"id":111965,"date":"2026-06-10T11:02:57","date_gmt":"2026-06-10T05:32:57","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=111965"},"modified":"2026-06-10T11:02:59","modified_gmt":"2026-06-10T05:32:59","slug":"horizon-reclaim-india-ipo-review","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/horizon-reclaim-india-ipo-review\/","title":{"rendered":"Horizon Reclaim India IPO Review: Price Band Rs 98-103, GMP Rs 15, Issue Size Rs 54 Crore \u2014 Should You Apply?"},"content":{"rendered":"<div class=\"meta-block\"><\/div>\n<p style=\"border-left: 4px solid #1F4E79; background: #EBF3FB; padding: 10px 16px; font-style: italic;\"><em>Horizon Reclaim IPO: Opens Jun 12-16. Price Rs 98-103. GMP Rs 15 (listing gain ~14.56%). FY25 revenue Rs 322 Cr. 9M FY26 PAT Rs 38.69 Cr (16.65% margin). BSE SME listing Jun 19. P\/E 15.51x on 9M FY26. Borrowings Rs 242 Cr.<\/em><\/p>\n<p>The <strong>Horizon Reclaim India IPO<\/strong> is set to open on June 12, 2026, giving investors their first chance to subscribe to this Saharanpur-based reclaimed rubber manufacturer. Priced at Rs 98-103 per share, the <strong>Horizon Reclaim IPO<\/strong> is a Rs 54.27 crore SME issue on BSE SME with a grey market premium of Rs 15, pointing to a listing price around Rs 118. This <strong>Horizon Reclaim IPO review<\/strong> covers the business, financials, valuation, risks, and whether investors should apply.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&amp;utm_medium=horizon-reclaim-ipo\"><strong>Click Here &#8211; Get Free Stock Research From Univest<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/horizon-reclaim-india-ipo-review\/#About_Horizon_Reclaim_India_Limited\" title=\"About Horizon Reclaim India Limited\">About Horizon Reclaim India Limited<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/horizon-reclaim-india-ipo-review\/#Horizon_Reclaim_IPO_Financials_Revenue_Growth_but_Margin_Volatility\" title=\"Horizon Reclaim IPO Financials: Revenue Growth but Margin Volatility\">Horizon Reclaim IPO Financials: Revenue Growth but Margin Volatility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/horizon-reclaim-india-ipo-review\/#Valuation_and_Key_Risks\" title=\"Valuation and Key Risks\">Valuation and Key Risks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/horizon-reclaim-india-ipo-review\/#Horizon_Reclaim_IPO_GMP_and_Listing_Estimate\" title=\"Horizon Reclaim IPO GMP and Listing Estimate\">Horizon Reclaim IPO GMP and Listing Estimate<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/horizon-reclaim-india-ipo-review\/#Should_You_Apply_for_the_Horizon_Reclaim_India_IPO\" title=\"Should You Apply for the Horizon Reclaim India IPO?\">Should You Apply for the Horizon Reclaim India IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/horizon-reclaim-india-ipo-review\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/horizon-reclaim-india-ipo-review\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/horizon-reclaim-india-ipo-review\/#What_is_the_Horizon_Reclaim_India_IPO_price_band\" title=\"What is the Horizon Reclaim India IPO price band?\">What is the Horizon Reclaim India IPO price band?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/horizon-reclaim-india-ipo-review\/#When_does_the_Horizon_Reclaim_India_IPO_open\" title=\"When does the Horizon Reclaim India IPO open?\">When does the Horizon Reclaim India IPO open?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/horizon-reclaim-india-ipo-review\/#What_is_the_Horizon_Reclaim_India_IPO_GMP_today\" title=\"What is the Horizon Reclaim India IPO GMP today?\">What is the Horizon Reclaim India IPO GMP today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/horizon-reclaim-india-ipo-review\/#What_does_Horizon_Reclaim_India_do\" title=\"What does Horizon Reclaim India do?\">What does Horizon Reclaim India do?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/horizon-reclaim-india-ipo-review\/#Should_I_apply_for_the_Horizon_Reclaim_India_IPO\" title=\"Should I apply for the Horizon Reclaim India IPO?\">Should I apply for the Horizon Reclaim India IPO?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"About_Horizon_Reclaim_India_Limited\"><\/span><strong>About Horizon Reclaim India Limited<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Horizon Reclaim India Ltd, incorporated in 2006 and headquartered in Saharanpur, Uttar Pradesh, is one of India&#8217;s leading manufacturers of reclaimed rubber. The company processes used tyres, rubber tubes, tread peelings, and industrial rubber scrap to produce natural rubber reclaim, synthetic rubber reclaim, and crumb rubber. These products serve footwear, automotive, construction, moulded rubber goods, and industrial applications. The business is built around the circular economy \u2014 converting waste rubber into high-quality reusable materials across multiple industries.<\/p>\n<table style=\"width: 100%; border-collapse: collapse; font-size: 14px;\">\n<thead>\n<tr>\n<th style=\"border: 1px solid #000; padding: 7px 9px; background: #000; color: #fff; text-align: left;\">Parameter<\/th>\n<th style=\"border: 1px solid #000; padding: 7px 9px; background: #000; color: #fff; text-align: left;\">Details<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">IPO Type<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">SME Book Build Issue<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Exchange<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">BSE SME<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Issue Size<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 54.27 crore (100% Fresh Issue)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Price Band<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 98-103 per share<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Face Value<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 10 per share<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Lot Size<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">1,200 shares<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Retail Min. Investment<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 2,47,200 (2,400 shares at Rs 103)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Open Date<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">June 12, 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Close Date<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">June 16, 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Allotment Date<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">June 17, 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Listing Date<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">June 19, 2026 (BSE SME)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">GMP (Jun 9, 2026)<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 15 \u2192 expected listing Rs 118 (+14.56%)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Registrar<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">KFin Technologies Ltd.<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">BRLM<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">GYR Capital Advisors Pvt. Ltd.<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">FY25 Revenue<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 322.58 crore (+56.2% YoY)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">FY25 Net Profit<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 28.13 crore (8.97% margin)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">9M FY26 Revenue<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 236.50 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">9M FY26 Net Profit<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 38.69 crore (16.65% margin)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Average EPS (FY24-25)<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 25.00<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Average RoNW<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">23.17%<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">P\/E (9M FY26 annualised)<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">15.51x<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">P\/E (FY25)<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">28.44x<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Total Borrowings<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Rs 242.57 crore (Dec 31, 2025)<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Business<\/td>\n<td style=\"border: 1px solid #000; padding: 7px 9px; background: #fff; color: #000;\">Reclaimed rubber manufacturer \u2014 natural, synthetic, crumb rubber<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div style=\"background: #E8EAFF; border-radius: 14px; padding: 24px 28px 20px; margin: 24px 0; cursor: pointer;\">\n<p style=\"font-size: 19px; font-weight: bold; color: #0a0a23; margin: 0 0 8px;\">Track All IPO GMP and Listing Performance on Univest<\/p>\n<p style=\"font-size: 15px; color: #3a3a5c; margin: 0 0 10px;\">Univest research covers every major IPO with GMP, subscription analysis, and post-listing tracking.<\/p>\n<ul style=\"margin: 0 0 14px 20px; color: #3a3a5c; font-size: 15px; line-height: 1.8;\">\n<li>Live IPO GMP and subscription updates<\/li>\n<li>Post-listing price performance tracking<\/li>\n<li>Expert IPO reviews and recommendations<\/li>\n<\/ul>\n<p style=\"font-size: 15px; color: #3a3a5c; margin: 0 0 16px;\">Unlock the latest <a style=\"color: #3b7fff; font-weight: bold;\" href=\"https:\/\/univest.in\/user\/payment?planType=ALL_PRO%20PLANS\">Top Stock Picks<\/a> on Univest<\/p>\n<p><a style=\"display: inline-block; background: #3B7FFF; color: #fff; font-size: 14px; font-weight: 600; padding: 11px 24px; border-radius: 50px; text-decoration: none;\" href=\"https:\/\/univest.in\/user\/payment?planType=ALL_PRO%20PLANS\" target=\"_blank\" rel=\"noopener\">See the Stocks \u2192<\/a><\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Horizon_Reclaim_IPO_Financials_Revenue_Growth_but_Margin_Volatility\"><\/span><strong>Horizon Reclaim IPO Financials: Revenue Growth but Margin Volatility<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Horizon Reclaim IPO<\/strong> financials show strong top-line growth but inconsistency in profitability. Revenue has grown from Rs 184.81 crore (FY23) to Rs 322.58 crore (FY25), a CAGR of approximately 32%. However, the PAT margin dropped sharply from 16.92% in FY24 to just 8.97% in FY25, primarily due to an extraordinary item of Rs 16.97 crore. In the first nine months of FY26 (to December 31, 2025), the company earned a net profit of Rs 38.69 crore on revenue of Rs 236.50 crore, implying a PAT margin of 16.65% and significantly higher annualised profits. This &#8220;pre-IPO period&#8221; bump in profitability has raised analyst concerns about sustainability of margins going forward.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Valuation_and_Key_Risks\"><\/span><strong>Valuation and Key Risks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Horizon Reclaim IPO<\/strong> is priced at a P\/E of 15.51 on annualised 9M FY26 earnings, which appears reasonable. However, based on the lower FY25 EPS, the P\/E rises to 28.44. The average RoNW of 23.17% over the last two years is healthy. Key concerns are elevated borrowings of Rs 242.57 crore as of December 2025, contingent liabilities noted in the offer documents, and the sustainability of the improved profitability shown in 9M FY26. The P\/BV of 2.44 based on NAV of Rs 140.81 is reasonable but the missing post-IPO NAV data in offer documents is a gap investors should note.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Horizon_Reclaim_IPO_GMP_and_Listing_Estimate\"><\/span><strong>Horizon Reclaim IPO GMP and Listing Estimate<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Horizon Reclaim IPO<\/strong> GMP stood at Rs 15 on June 9, 2026, pointing to an estimated listing price of approximately Rs 118 \u2014 a gain of 14.56% above the issue price of Rs 103. Grey market premium is an unofficial indicator and can change significantly before listing. The GMP of Rs 15 for this <strong>Horizon Reclaim IPO<\/strong> reflects moderate positive sentiment, not exceptional demand.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Track Horizon Reclaim IPO GMP and Subscription Live on Univest Screener<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Should_You_Apply_for_the_Horizon_Reclaim_India_IPO\"><\/span><strong>Should You Apply for the Horizon Reclaim India IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Horizon Reclaim India IPO<\/strong> offers a reasonably priced entry into India&#8217;s reclaimed rubber recycling sector at a time when circular economy businesses are gaining policy and investor attention. The 9M FY26 profitability improvement is encouraging. However, the elevated borrowings, FY25 margin dip, and questions about earnings sustainability are genuine risks. For investors seeking listing gains based on the Rs 15 GMP signal, the return potential is moderate. Long-term investors should look for FY26 full-year results before making a decision. This is not investment advice. Consult a SEBI-registered financial advisor.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Horizon Reclaim IPO<\/strong> opens June 12 at Rs 98-103 on BSE SME. GMP of Rs 15 suggests modest listing gains of ~14-15%. The Horizon Reclaim IPO business has strong revenue growth and improving margins in 9M FY26, but elevated borrowings and margin volatility are risk factors. Track subscription, GMP, and allotment on Univest.<\/p>\n<p style=\"margin-top: 24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track the Horizon Reclaim IPO subscription, GMP and allotment status on Univest.<\/em><\/p>\n<div style=\"background: #CC0000; border-radius: 8px; padding: 16px 20px; margin: 24px 0;\">\n<p style=\"color: #ffffff; font-size: 13px; line-height: 1.7; margin: 0;\"><strong style=\"color: #ffffff;\">Disclaimer:<\/strong> Data sourced from publicly available information. Verify all data with official NSE\/BSE\/MCX\/SEBI before investing. IPO GMP is unofficial and unregulated by SEBI. Investments are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Horizon_Reclaim_India_IPO_price_band\"><\/span><strong>What is the Horizon Reclaim India IPO price band?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Horizon Reclaim India IPO price band is Rs 98 to Rs 103 per share. The minimum lot size is 1,200 shares. Retail investors must apply for a minimum of 2 lots (2,400 shares), requiring an investment of Rs 2,47,200 at the upper price band of Rs 103.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"When_does_the_Horizon_Reclaim_India_IPO_open\"><\/span><strong>When does the Horizon Reclaim India IPO open?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Horizon Reclaim India IPO opens for subscription on June 12, 2026, and closes on June 16, 2026. Allotment is expected on June 17. Shares will be credited on June 18, with listing on BSE SME on June 19, 2026.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Horizon_Reclaim_India_IPO_GMP_today\"><\/span><strong>What is the Horizon Reclaim India IPO GMP today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Horizon Reclaim India IPO GMP (grey market premium) is Rs 15 per share as of June 9, 2026. Based on this, the estimated listing price is approximately Rs 118, implying a potential listing gain of 14.56% over the issue price of Rs 103. GMP is unofficial and unregulated by SEBI.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_does_Horizon_Reclaim_India_do\"><\/span><strong>What does Horizon Reclaim India do?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Horizon Reclaim India Ltd, founded in 2006 and headquartered in Saharanpur, Uttar Pradesh, is a manufacturer of reclaimed rubber. The company processes used tyres, rubber tubes, tread peelings, and industrial rubber scrap into natural rubber reclaim, synthetic rubber reclaim, and crumb rubber. Its products are used in footwear, automotive components, construction materials, moulded rubber goods, and industrial applications.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Should_I_apply_for_the_Horizon_Reclaim_India_IPO\"><\/span><strong>Should I apply for the Horizon Reclaim India IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Horizon Reclaim India IPO shows strong top-line growth (FY25 revenue Rs 322.58 crore, up from Rs 206.45 crore in FY24) and improving margins in 9M FY26 (Rs 38.69 crore PAT on Rs 236.50 crore revenue, 16.65% margin). However, FY25 showed a margin compression (8.97% PAT margin) due to an extraordinary item, and total borrowings of Rs 242.57 crore are elevated. At P\/E 15.51 on 9M FY26 earnings, the issue appears fairly priced. The GMP of Rs 15 suggests modest listing gains. This is not investment advice \u2014 consult a SEBI-registered financial advisor before applying to the Horizon Reclaim IPO.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the Horizon Reclaim India IPO price band?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Horizon Reclaim India IPO price band is Rs 98 to Rs 103 per share. The minimum lot size is 1,200 shares. Retail investors must apply for a minimum of 2 lots (2,400 shares), requiring an investment of Rs 2,47,200 at the upper price band of Rs 103.\"}},{\"@type\":\"Question\",\"name\":\"When does the Horizon Reclaim India IPO open?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Horizon Reclaim India IPO opens for subscription on June 12, 2026, and closes on June 16, 2026. Allotment is expected on June 17. Shares will be credited on June 18, with listing on BSE SME on June 19, 2026.\"}},{\"@type\":\"Question\",\"name\":\"What is the Horizon Reclaim India IPO GMP today?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Horizon Reclaim India IPO GMP (grey market premium) is Rs 15 per share as of June 9, 2026. Based on this, the estimated listing price is approximately Rs 118, implying a potential listing gain of 14.56% over the issue price of Rs 103. GMP is unofficial and unregulated by SEBI.\"}},{\"@type\":\"Question\",\"name\":\"What does Horizon Reclaim India do?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Horizon Reclaim India Ltd, founded in 2006 and headquartered in Saharanpur, Uttar Pradesh, is a manufacturer of reclaimed rubber. The company processes used tyres, rubber tubes, tread peelings, and industrial rubber scrap into natural rubber reclaim, synthetic rubber reclaim, and crumb rubber. Its products are used in footwear, automotive components, construction materials, moulded rubber goods, and industrial applications.\"}},{\"@type\":\"Question\",\"name\":\"Should I apply for the Horizon Reclaim India IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Horizon Reclaim India IPO shows strong top-line growth (FY25 revenue Rs 322.58 crore, up from Rs 206.45 crore in FY24) and improving margins in 9M FY26 (Rs 38.69 crore PAT on Rs 236.50 crore revenue, 16.65% margin). However, FY25 showed a margin compression (8.97% PAT margin) due to an extraordinary item, and total borrowings of Rs 242.57 crore are elevated. At P\/E 15.51 on 9M FY26 earnings, the issue appears fairly priced. The GMP of Rs 15 suggests modest listing gains. This is not investment advice \\u2014 consult a SEBI-registered financial advisor.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Horizon Reclaim India IPO review: Price Rs 98-103. GMP Rs 15 (14.56% listing gain expected). FY25 revenue Rs 322 Cr. BSE SME listing June 19. Should you apply? Full analysis.<\/p>\n","protected":false},"author":34,"featured_media":112058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1281],"tags":[4252],"class_list":["post-111965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","tag-ipo-review"],"metadata":{"rank_math_internal_links_processed":["1"],"_edit_lock":["1781069584:23"],"_last_editor_used_jetpack":["block-editor"],"rank_math_primary_category":["1281"],"rank_math_seo_score":["80"],"rank_math_title":["Horizon Reclaim India IPO Review: Price, GMP, Should You Apply?"],"rank_math_description":["Horizon Reclaim India IPO review: Price band Rs 98-103, GMP Rs 15, listing June 19 on BSE SME. Reclaimed rubber maker. FY25 revenue Rs 322 Cr. 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