Horizon Reclaim IPO Launches Today: Explore GMP, Price Band, and Key Details!

The IPO of Horizon Reclaim opened for subscription on Friday, targeting to raise Rs 54.27 crore through an entirely fresh issue of 52.69 lakh shares. The price band for the IPO has been set between Rs 98 and Rs 103 per share. The issue is set to remain open for bidding until June 16, with shares expected to list on the BSE SME platform on June 19. Investors can bid for a minimum of 2,400 shares, and around 50% of the net offer is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors.

The grey market is currently indicating a strong debut for this IPO, with a notable grey market premium (GMP) of approximately 49% over the upper end of the price band. This suggests that the shares could list at around Rs 153 per share, significantly higher than the issue price of Rs 103. Such robust grey market sentiment usually reflects investor confidence and anticipation for a successful initial trading phase, which might encourage more institutional and retail participation.

For Indian investors, particularly those focusing on sustainability and circular economy-related businesses, the Horizon Reclaim IPO presents an attractive opportunity. The company’s focus on manufacturing reclaimed rubber products utilizing recycled materials aligns well with growing trends towards environmental sustainability. Additionally, Horizon Reclaim has reported strong financial growth, indicating solid operational performance and potential for capital appreciation. As this IPO enters a bullish sentiment phase, it may prompt greater interest from retail investors looking to capitalize on emerging market opportunities within the eco-conscious sector.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)