Horizon Reclaim (India) Ltd's initial public offering made a robust debut on the BSE SME platform today, June 19, 2026, with shares listing at ₹151 per share. This represents a 46.60% premium over the IPO issue price of ₹103 per share, significantly exceeding the grey market premium of ₹73% that was anticipated. The company's shares were priced in the band of ₹98 to ₹103 per share, with the IPO raising ₹54.27 crore through a fresh issue of 52.69 lakh equity shares. The minimum investment requirement was ₹2,47,200 based on the upper price band, with a lot size of 1,200 shares. Post-listing, the stock traded at ₹143.45, representing a 39.27% premium, with the counter hitting a high of ₹152 and low of ₹143.45, and about 20.56 lakh shares changing hands.
The IPO demonstrated exceptional investor demand, achieving a robust 282.87 times subscription overall. The issue opened for bidding on June 12, 2026 and closed on June 16, 2026. As reported by Business Standard, the retail individual investors category was booked 308.30 times, while the non-institutional investors segment received 450.74 times subscription. The qualified institutional buyers category saw 186.72 times subscription. The IPO was priced in the band of ₹98 to ₹103 per share, with the company raising ₹54.27 crore through a fresh issue of 52.69 lakh equity shares. The minimum investment requirement is ₹2,47,200 based on the upper price band, with a lot size of 1,200 shares.
Horizon Reclaim shares were commanding a strong grey market premium of ₹73% ahead of their stock market debut, indicating a likely listing price of ₹178 per share compared to the issue price of ₹103 per share. However, the actual listing price of ₹151 per share represented a 47% premium, underperforming Street expectations as the grey market premium suggested a higher listing. According to Live Mint, this translates to a premium of about ₹48 per share over the IPO price, with the actual listing falling short of the grey market premium's ₹72.82% expectation. The stock is currently frozen at its lower limit of 5% over its listing price.
Incorporated in 2006, Horizon Reclaim (India) manufactures reclaimed rubber using recycled rubber materials such as used tyres, tubes, tread peelings and industrial rubber scrap. Its product portfolio includes natural rubber reclaim, synthetic rubber reclaim and crumb rubber, catering primarily to industrial and business-to-business customers. The company offers eco-friendly and cost-effective alternatives to natural and synthetic rubber through its range of Natural Rubber Reclaim, Synthetic Rubber Reclaim and Crumb Rubber products. These products cater to diverse applications across footwear, automotive, construction, road infrastructure, sports surfaces and moulded rubber goods, with multiple grades available to meet specific customer requirements. As of March 31, 2026, the company had a workforce of 81 employees. The company reported revenue from operations of ₹49.42 crore and net profit of ₹10.50 crore for the period ended March 31, 2026.
Individual investors who received the Horizon Reclaim India IPO allotment made ₹3,62,400 from their investment, based on the listing price of ₹151 per share. The initial share sale was exclusively a fresh issuance of 52.69 lakh shares valued at ₹54.27 crore, with no offer for sale (OFS) component. Prior to the IPO, the company secured over ₹15 crore from anchor investors, including ₹15.46 crore raised on June 11, 2026, with the board allotting 15.01 lakh shares at ₹103 each to 5 anchor investors. The company's shares will provide liquidity to existing shareholders and create a public trading market for equity shares on the BSE SME platform.
