Horizon Reclaim Ipo
Horizon Reclaim IPO Review & Key Points
Review: Neutral
IPO Lead Managers aka Merchant Bankers
GYR Capital Advisors Pvt. Ltd.
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | June 12, 2026 |
| IPO Close Date | June 16, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹98 to ₹103 Per Share |
| Issue Size | Approx ₹54.27 Crores, 52,69,200 Equity Shares |
| Fresh Issue | Approx ₹54.27 Crores, 52,69,200 Equity Shares |
| Issue Type | Book Building Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 2,400 | ₹2,47,200 |
| Retail Maximum | 2 | 2,400 | ₹2,47,200 |
| S-HNI Minimum | 3 | 3,600 | ₹3,70,800 |
| S-HNI Maximum | 8 | 9,600 | ₹9,88,800 |
| B-HNI Minimum | 9 | 10,800 | ₹11,12,400 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 15,01,200 Shares | 28.49% |
| QIB (Ex. Anchor) | 10,00,800 Shares | 18.99% |
| NII Shares Offered | 7,51,200 Shares | 14.26% |
| Retail Shares Offered | 17,52,000 Shares | 33.25% |
| Anchor Bidding Date | June 11, 2026 |
| Anchor Investors List | |
| Shares Offered | 15,01,200 Shares |
| Anchor Size | 15.46 Cr. |
| lock-in period end date 50% shares (30 Days) | July 17, 2026 |
| lock-in period end date 50% shares (90 Days) | Sep 15, 2026 |
| IPO Open Date: | June 12, 2026 |
| IPO Close Date: | June 16, 2026 |
| Basis of Allotment: | June 17, 2026 |
| Refunds: | June 18, 2026 |
| Credit to Demat Account: | June 18, 2026 |
| IPO Listing Date: | June 19, 2026 |
| IPO Bidding Cut-off Time: | June 16, 2026 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,42,46,200 | 95.84% |
| Promoter Holding Post Issue | 1,95,15,400 | -% |
| Purpose | Crores |
| Funding the working capital requirements of the Company | ₹6.00 |
| Pre-payment or Repayment of all or a portion of certain outstanding borrowings availed by our Company | ₹26.70 |
| Funding Capital Expenditure for the installation of additional Plant & Machinery | ₹9.43 |
| General Corporate Purpose | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹19.66 | ₹18.76 | ₹0.67 | ₹7.71 |
| 2024 | ₹20.44 | ₹19.49 | ₹0.71 | ₹8.45 |
| 2025 | ₹36.39 | ₹26.66 | ₹7.07 | ₹26.08 |
| 2026 | ₹50.01 | ₹35.72 | ₹10.50 | ₹64.88 |
| KPI | Values |
| ROE: | 53.63% |
| ROCE: | 25.45% |
| EBITDA Margin: | 32.64% |
| PAT Margin: | 21.25% |
| Debt to equity ratio: | 1.44 |
| Earning Per Share (EPS): | ₹7.37 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 42.29% |
| Net Asset Value (NAV): | ₹17.43 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Lead Reclaim and Rubber Products Limited | 4.73 | 19.04 | 10.27% | 27.96 | 39.99 Cr. |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |