Incorporated in 2006, Horizon Reclaim (India) Ltd. is engaged in the manufacturing of reclaimed rubber, which is recycled rubber derived from used rubber materials such as old tyres, rubber tubes, tread peelings, and industrial scrap.
Product Portfolio:
- Natural Rubber Reclaim, made from tyre casings and tubes and used in footwear soles, floor mats, tyre base layers, and moulded rubber products.
- Synthetic Rubber Reclaim, including EPDM and Butyl rubber used in automotive seals, hoses, gaskets, and construction profiles
- Crumb Rubber, produced from recycled tyres and used in road construction, sports surfaces, and roofing sheets. Products are available in different grades based on customer requirements.
The company sales are primarily business-to-business, targeting small and medium enterprises and industrial customers mainly in the northwestern region of India.
Competitive Strengths:
- In-house manufacturing facility supported by technology driven process
- Diversified Customer Base and Long-Standing Customer Relationships
- Experienced Promoter Directors with Strong Industry Expertise
- Stringent Quality Control Ensuring Standardized Product Quality
| Purpose | Amount (₹ Cr) |
|---|---|
| Funding the working capital requirements of our Company | ₹6 |
| Pre-payment or Repayment of all or a portion of certain outstanding borrowings availed by our Company | ₹27 |
| Funding Capital Expenditure for the installation of additional Plant & Machinery | ₹9 |
| General Corporate Purposes | — |
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 65 | 26 | 8 |
| Revenue | 50 | 36 | 20 |
| PAT | 11 | 7 | 1 |
| EBITDA | 16 | 10 | 1 |
| Net Worth | 25 | 14 | 7 |
| Reserves | 11 | 0 | 7 |
| Total Borrowing | 36 | 10 | — |
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 2,502,000 | — | ₹26 Cr |
| NII / HNI | — | 751,200 | — | ₹8 Cr |
| Retail (RII) | — | 1,752,000 | — | ₹18 Cr |
| Market Maker | — | 264,000 | — | ₹3 Cr |
| Total | — | 5,269,200 | — | ₹54 Cr |
* Amount calculated at upper price band (₹103) · ** Total includes all investor categories
- 1 Initiation of Refund 18 Jun 2026
- 2 Credit of Shares to Demat 18 Jun 2026
- The IPO P/E of 19x reflects a good valuation relative to typical market ranges.
- Pre-issue EPS of ₹7 compares to post-issue EPS of ₹5 after dilution.
This IPO has relatively lower interest or stretched valuation. Proceed with thorough research and caution.
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