Horizon Reclaim India IPO GMP Day 1: Grey Market Premium Strong at Rs 33, Estimated Listing Price Rs 136 — Should You Subscribe on Day 1?

The Horizon Reclaim IPO opens for subscription today, June 12, 2026, with the grey market premium (GMP) already at a strong Rs 33 before Day 1 bids are counted. The Day 1 GMP of Rs 33 implies an estimated listing price of Rs 136, approximately 32% above the issue price of Rs 103, when the stock is expected to debut on BSE SME on June 19, 2026. The Horizon Reclaim IPO is a Rs 54.27 crore SME issue structured entirely as a fresh issue, with no offer-for-sale component. This means all IPO proceeds will flow into the business for working capital, debt repayment, and capacity expansion. The GMP had been building steadily since June 6, rising from Rs 5 to Rs 33 by June 10, indicating sustained pre-subscription grey market interest in the Saharanpur-based reclaimed rubber manufacturer.

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Horizon Reclaim India IPO: Key Details

IPO Parameter	Details
IPO Name	Horizon Reclaim (India) Ltd. IPO
IPO Type	SME IPO , Book-Built
Exchange	BSE SME
Issue Size	Rs 54.27 crore
Structure	100% Fresh Issue (52.69 lakh shares)
Price Band	Rs 98 to Rs 103 per share
Face Value	Rs 10 per share
Lot Size	1,200 shares (minimum 2 lots = 2,400 shares)
Minimum Retail Investment	Rs 2,47,200 (2,400 shares at Rs 103)
Minimum HNI Investment	Rs 3,70,800 (3 lots, 3,600 shares)
Subscription Open	June 12, 2026 (today, Day 1)
Subscription Close	June 16, 2026
Allotment Date	June 17, 2026
Share Credit	June 18, 2026
Listing Date	June 19, 2026 (tentative, BSE SME)
GMP Day 1 (June 12)	Rs 33
Estimated Listing Price	Rs 136 (Rs 103 + Rs 33 = +32.04% over issue price)
QIB Quota	25,02,000 shares (~50%)
NII Quota	~15%
Retail Quota	~35%
BRLM	GYR Capital Advisors Pvt. Ltd.
Registrar	KFin Technologies Ltd.
Market Maker	Giriraj Stock Broking Pvt. Ltd.
Business	Reclaimed rubber manufacturer , Natural, Synthetic, Crumb rubber
Incorporated	2006, Saharanpur, Uttar Pradesh
Post-IPO float	26.81% of paid-up capital

About Horizon Reclaim India

Horizon Reclaim India Ltd., incorporated in 2006 in Saharanpur, Uttar Pradesh, specialises in the manufacture of reclaimed rubber from waste tyres, rubber tubes, tread peelings, and industrial rubber waste. The company produces three main product categories: Natural Rubber Reclaim, Synthetic Rubber Reclaim, and Crumb Rubber. These find applications across the automotive (tyres, seals, gaskets), footwear, construction (waterproofing), and industrial sectors. Reclaimed rubber is a circular economy product: it offers equivalent properties to virgin rubber at significantly lower cost, with the added sustainability benefit of diverting rubber waste from landfills. The Horizon Reclaim IPO is structured as a 100% fresh issue, with the Rs 54.27 crore proceeds earmarked for business expansion.

GMP of Rs 33: What It Signals on Day 1

A GMP of Rs 33 on Horizon Reclaim IPO Day 1 is a strong grey market signal. The GMP rising from Rs 5 on June 6 to Rs 33 on June 10, before the IPO even opened, suggests meaningful grey market demand building ahead of subscription. The implied listing gain of 32% over Rs 103 is significantly above the typical 10-15% threshold that attracts retail interest. However, Day 1 GMP should be interpreted cautiously: GMPs can fluctuate significantly during the subscription period, and the actual listing price will depend primarily on final Day 3 subscription multiples (especially QIB), broader market conditions on listing day, and actual buying at the June 19 opening on BSE SME.

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Conclusion

The Horizon Reclaim IPO opens on Day 1 with a strong GMP of Rs 33, implying a 32% listing gain at Rs 136 over the issue price of Rs 103. The 100% fresh issue structure is positive. The subscription window is open June 12-16, with allotment June 17 and listing June 19 on BSE SME. Track live Horizon Reclaim IPO GMP and subscription on Univest.

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Frequently Asked Questions

What is the Horizon Reclaim IPO GMP on Day 1?

Ans. The Horizon Reclaim IPO grey market premium (GMP) on Day 1 (June 12, 2026, the opening day of subscription) is Rs 33. Based on the issue price of Rs 103 (upper band), this GMP implies an estimated listing price of Rs 136, representing a potential listing gain of approximately 32% for allottees when the stock lists on BSE SME on June 19, 2026. The GMP had risen from Rs 5 (June 6) to Rs 33 (June 10) even before the IPO opened, indicating a sustained build-up of grey market interest ahead of the opening day.

What does Horizon Reclaim India do?

Ans. Horizon Reclaim India Ltd., incorporated in 2006 and headquartered in Saharanpur, Uttar Pradesh, is one of India’s manufacturers of reclaimed rubber. The company processes recycled tyres, rubber tubes, tread peelings, and industrial rubber waste to produce Natural Rubber Reclaim, Synthetic Rubber Reclaim, and Crumb Rubber. These products are used across automotive, footwear, construction, and industrial sectors. The reclaimed rubber industry is a circular economy play, benefiting from growing demand for sustainable and cost-effective alternatives to virgin rubber. The IPO is a 100% fresh issue, meaning all proceeds flow into the company for working capital, borrowing repayment, and capital expenditure.

Should you apply for Horizon Reclaim IPO on Day 1?

Ans. The Horizon Reclaim IPO GMP of Rs 33 on Day 1 indicates strong grey market demand, with a 32% implied listing gain. The 100% fresh issue structure is positive as it shows promoter confidence rather than an exit. The company is in the circular economy and reclaimed rubber segment, which has structural demand from automotive and industrial sectors. However, Day 1 subscription data has not yet been published, and investors should wait to see the QIB subscription levels (especially on Day 3) before drawing conclusions about allotment probability. For long-term investors comfortable with SME IPO risk, the Day 1 GMP of Rs 33 is an encouraging signal. For conservative investors, tracking Day 3 QIB participation alongside GMP provides a more complete picture.

What are the IPO proceeds being used for in Horizon Reclaim IPO?

Ans. The Horizon Reclaim IPO is a 100% fresh issue of Rs 54.27 crore, with no offer-for-sale component. The IPO proceeds are intended to be used for three primary purposes: working capital requirements to support ongoing operations and receivable management; repayment or prepayment of existing borrowings to reduce debt on the balance sheet; and capital expenditure for expansion of manufacturing capacity. The absence of any OFS component means no promoter or investor is selling shares in this IPO, which is generally viewed as a positive signal of confidence in the company’s future growth.