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:
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:
Horizon Reclaim (India) Ltd.’s revenue increased by 37% and profit after tax (PAT) rose by 49% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 64.88 | 26.08 | 8.45 |
| Total Income | 50.01 | 36.39 | 20.44 |
| Profit After Tax | 10.50 | 7.07 | 0.71 |
| EBITDA | 16.32 | 10.46 | 1.17 |
| NET Worth | 24.83 | 14.33 | 7.26 |
| Reserves and Surplus | 10.58 | 0.08 | 6.51 |
| Total Borrowing | 35.76 | 10.03 | |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|
| Defrail Technologies Ltd. | SME | ₹13.77 Cr | ₹74 | ₹90.25 | +21.96% | ₹74.50 (-3.25%) |
| Ameenji Rubber Ltd. | SME | ₹30.00 Cr | ₹100 | ₹106.05 | +6.05% | ₹140.00 (+3.44%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the working capital requirements of our Company | 6.00 |
| 2 | Pre-payment or Repayment of all or a portion of certain outstanding borrowings availed by our Company | 26.70 |
| 3 | Funding Capital Expenditure for the installation of additional Plant & Machinery | 9.43 |
| 4 | General Corporate Purposes | |
| Total | 42.13 |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 53.63% |
| ROCE | 25.45% |
| Debt/Equity | 1.44 |
| RoNW | 42.29% |
| PAT Margin | 21.25% |
| EBITDA Margin | 32.64% |
| Price to Book Value | 5.91 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.37 | 5.38 |
| P/E (x) | 13.97 | 19.14 |
| IPO Date | 12 to 16 Jun, 2026 |
| Listing Date | Fri, Jun 19, 2026T |
| Face Value | ₹10 per share |
| Price Band | ₹98 to ₹103 |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 52,69,200 shares (agg. up to ₹54 Cr) |
| Reserved for Market Maker |
2,64,000 shares
(agg. up to ₹3 Cr)
|
| Fresh Issue (Ex Market Maker) | 50,05,200 shares (agg. up to ₹52 Cr) |
| Net Offered to Public | 50,05,200 shares (agg. up to ₹52 Cr) |
| Share Holding Pre Issue | 1,42,46,200 shares |
| Share Holding Post Issue | 1,95,15,400 shares |
Mohit Bajaj and Malika Bajaj are the Promoters of the company
| Share Holding Pre Issue | 95.84% |
| Share Holding Post Issue |
As per our analysis and Based on the information we have, this is the output.
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