Horizon Reclaim (India) Ltd IPO

Status: Closed

Overview

IPO date

12 Jun 2026 to 16 Jun 2026

Face value

₹ 10 per share

Price

₹ 98 to ₹103 per share

Issue Size

5,269,200 shares
(aggregating up to ₹ 54.27 Cr)

Allotment Date

17 Jun 2026

Listing at

NSE

Issue type

Book Building - SME

Sector

Plantation & Plantation Products

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T&C*

Strengths vs Risks of Horizon Reclaim (India) Ltd

Know the pros & cons

Strengths

Experienced Promoters having deep domain knowledge to scale up the business.
Management team with an established track record.
Established track record of successfully completed orders.
Efficient operational team.

Risks

The company's business is capital intensive, and the company's inability to raise funds on acceptable terms when required could materially and adversely affect the company's business, financial condition and results of operations.
The company's business is working capital intensive. If the company is unable to generate sufficient cash flows to allow the company to make required payments, there may be an adverse effect on the company's results of operations
The company primarily operates on a purchase order-based model and does not have long-term contractual arrangements with the company's customers, which may adversely affect the stability and predictability of the company's revenues.
The Company is dependent on external suppliers for the company's raw material requirements.
The company's business is dependent on the company's manufacturing facility, and any disruption in manufacturing operations could adversely affect its business.
The company relies on third-party transportation providers for all of the company's input materials and product distribution. Failures by any of the company's transportation providers to deliver its input materials and products on time or at all, could result in loss in sales.
Rapid technological changes and advancements in manufacturing processes may render its existing technologies obsolete or require the company to incur significant capital expenditure to remain competitive.
The price, at which the company is able to obtain the raw material for manufacture of the company's finished products depend largely on prevailing market prices. Increase in costs of the company's raw materials could have a material adverse effect on the Company's business, profitability and results of operations and cash flows.
The Company and the company's Director are party to certain tax proceedings. Any adverse decision in such proceedings may have a material adverse effect on the company's business, results of operations and financial condition.
The company requires certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate its business, any failures to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect its operations.
The company may be unable to sufficiently obtain, maintain, protect, or enforce its intellectual property and other proprietary rights.
The company derives a significant portion of the company's revenues from a limited number of clients. The loss of any significant clients may have an adverse effect on the company's business, financial condition, results of operations, and prospect.
The company depends on a limited number of suppliers for raw materials. Any interruption in the availability of raw materials could adversely impact its operations. Further, any failures by the company's suppliers to provide raw materials to the company on time or at all, or as per the company's specifications and quality standards could have an adverse impact on the company's ability to meet its manufacturing and delivery schedules.
The company is subject to strict quality requirements and are consequently required to incur significant expenses to maintain the company's product quality. Any failures to comply with such quality standards may lead to cancellation of existing and future orders which may adversely affect its reputation, financial conditions, cash flows and results of operations.
The company may not be successful in effectively implementing our business and growth strategies, which could adversely affect its business and financial performance.
The company operates in a competitive industry, and increased competition may adversely affect its business, financial performance and market position.
Failures to manage its inventory could have an adverse effect on the company's net sales, profitability, cash flow and liquidity.
Under-utilization of the company's manufacturing capacities and an inability to effectively utilize its expanded manufacturing capacities could have an adverse effect on the company's business, future prospects and future financial performance.
The company's success is dependent on the company's Promoters, management team and skilled manpower. The company's inability to attract and retain key personnel or the loss of services of the company's Promoter or Managing Director, Whole time Directors and Executive Directors may have an adverse effect on the company's business prospects.
The Company has negative cash flows from its investing activities as well as financing activities in the past years, details of which are given below. Sustained negative cash flow could impact its growth and business.
Delays or defaults in client payments could affect its operations.
Certain non-compliances and deficiencies in corporate and statutory filings under the Companies Act, 1956 and the Companies Act, 2013 have occurred in the past. Any regulatory action or penalties arising therefrom may adversely affect its financial position and reputation.
The company's Registered Office is not owned by the company.
If the price of energy sources increases, the company's operating expenses could increase significantly and the company's results of operations and cash flows could be materially and adversely affected.
The company may be adversely affected by employee misconduct, errors or omissions, which could expose the company to operational, financial and reputational risks.
The company's insurance coverage may not adequately protect the company against all material hazards, which may adversely affect its business, results of operations and financial condition.
The company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
The company's contingent liabilities as stated in the company's Restated Financial Statements could adversely affect its financial condition.
Loans availed by the Company has been secured on personal guarantees of its directors. The company's business, financial condition, results of operations, cash flows and prospects may be adversely affected in case of invocation of any personal guarantees provided by the company's Directors.
An inability to comply with repayment and other covenants in the financing agreements or otherwise meet its debt servicing obligations could adversely affect the company's business, financial condition, cash flows and credit rating.
Certain of the company's Directors are unable to trace their educational qualification documents.
In addition to normal remuneration, other benefits and reimbursement of expenses, some of its Directors (Promoters) are interested in the Company through their shareholding and dividend entitlement, and have also provided personal guarantees in respect of certain borrowings of the Company.
The company's Promoter and the Promoter Group will jointly continue to retain majority shareholding in the Company after the issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
The company has not commissioned an industry report for the disclosures made in the section titled `the company's Industry' and made disclosures on the basis of the data available on the internet and such data has not been independently verified by the company.
Any non-compliance or delays in ESIC, EPF and GST Return Filings may expose the company to penalties from the regulators.
None of the Executive Directors of the Company have experience of being a director of a public listed company.
The company's future funding requirements, whether met through issuance of equity shares or other securities and/or through borrowings, may be prejudicial to the interests of the company's shareholders depending on the terms on which such funds are raised.
The Company is yet to place orders for the plant and machinery. Any delay in placing orders or procurement of such plant and machinery may delay the schedule of implementation and possibly increase the cost of commissioning the manufacturing unit.
The company's ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
The company is subject to impact of foreign exchange fluctuation. Any significant movement in foreign exchange rates, could adversely impact its costs of sourcing raw materials through imports, which in turn could adversely impact the company's operations.
Certain key performance indicators for the company's listed industry peer included in this Draft Red Herring Prospectus have been sourced from public sources and there is no assurance that such financial and other industry information is complete.
The requirements of being a public listed company may strain its resources and impose additional requirements.
Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
Any future issuance of Equity Shares or convertible securities, including options under any stock option plan or other equity linked securities may dilute your shareholding, and significant sales of Equity Shares by the company's major shareholders, may adversely affect the trading price of our Equity Shares.
The company has not identified any alternate source of raising the funds mentioned as the company's `Objects of the Issue'. any shortfall or delay in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
The company proposes to utilize the Net Proceeds for purposes identified in the section titled "Objects of the Issue" in this Draft Red Herring Prospectus. Any variation in the utilization of the Net Proceeds as disclosed in this Draft Red Herring Prospectus shall be subject to certain compliance requirements, including prior shareholders' approval.
The company's funding requirements and the proposed utilization of Net Proceeds have not been appraised by any independent agency, which may pose risks to the effective deployment of funds and could adversely impact its business operations and financial performance.
The average cost of acquisition of Equity Shares by our Promoters is lower than the Offer price determined in consultation with Book Running Lead Manager in accordance with the SEBI ICDR Regulations.
There are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time
The Offer price of the company's Equity Shares may not be indicative of the market price of the company's Equity Shares after the Offer and the market price of the company's Equity Shares may decline below the offer price and you may not be able to Sell your Equity Shares at or above the Offer Price
After this Offer, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop
There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of BSE Limited in a timely manner, or at all.
The company business is capital intensive, and its inability to raise funds on acceptable terms when required could materially and adversely affect the company business, financial condition and results of operations.
The company business is working capital intensive. If its is unable to generate sufficient cash flows to allow the company to make required payments, there may be an adverse effect on its results of operations
The company primarily operates on a purchase order-based model and does not has long-term contractual arrangements with its customers, which may adversely affect the stability and predictability of the company revenues.
The Company is dependent on external suppliers for its raw material requirements.
The company business is dependent on its manufacturing facility, and any disruption in manufacturing operations could adversely affect the company business.
The company relies on third-party transportation providers for all of its input materials and product distribution. Failures by any of the company transportation providers to deliver its input materials and products on time or at all, could result in loss in sales.
Rapid technological changes and advancements in manufacturing processes may render the company existing technologies obsolete or require its to incur significant capital expenditure to remain competitive.
The price, at which the company is able to obtain the raw material for manufacture of its finished products depends largely on prevailing market prices. Increase in costs of the company raw materials could has a material adverse effect on its Company's business, profitability and results of operations and cash flows.
The Company and its Director is party to certain tax proceedings. Any adverse decision in such proceedings may has a material adverse effect on the company business, results of operations and financial condition.
Certain non-compliances and deficiencies in corporate and statutory filings under the Companies Act, 1956 and the Companies Act, 2013 has occurred in the past. Any regulatory action or penalties arising therefrom may adversely affect the company financial position and reputation.
The company requires certain approvals and licenses in the ordinary course of business and is required to comply with certain rules and regulations to operates its business, any failures to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect the company operations.
The company derives a significant portion of its revenues from a limited number of clients. The loss of any significant clients may has an adverse effect on the company business, financial condition, results of operations, and prospect.
The company depends on a limited number of suppliers for raw materials. Any interruption in the availability of raw materials could adversely impact its operations. Further, any failures by its suppliers to provide raw materials to the company on time or at all, or as per its specifications and quality standards could has an adverse impact on the company ability to meet its manufacturing and delivery schedules.
The company may be unable to sufficiently obtain, maintain, protect, or enforce its intellectual property and other proprietary rights.
The Company has negative cash flows from its investing activities as well as financing activities in the past years, details of which is given below. Sustained negative cash flow could impact its growth and business.
The company is subject to strict quality requirements and is consequently required to incur significant expenses to maintain its product quality. Any failures to comply with such quality standards may lead to cancellation of existing and future orders which may adversely affect the company reputation, financial conditions, cash flows and results of operations.
The company may not be successful in effectively implementing its business and growth strategies, which could adversely affect the company business and financial performance.
Under-utilization of the company manufacturing capacities and an inability to effectively utilize its expanded manufacturing capacities could has an adverse effect on the company business, future prospects and future financial performance.
The company operates in a competitive industry, and increased competition may adversely affect its business, financial performance and market position.
Failures to manage the company inventory could has an adverse effect on its net sales, profitability, cash flow and liquidity.
The company success is dependent on its Promoters, management team and skilled manpower. Its inability to attract and retain key personnel or the loss of services of the company Promoter or Managing Director, Whole time Directors and Executive Directors may has an adverse effect on its business prospects.
Delays or defaults in client payments could affect the company operations.
Certain of the company properties, including its Registered Office and some of the company manufacturing units, is not owned by its.
Certain historical share allotments made against cash consideration is not supported by bank statements.
The company may be adversely affected by employee misconduct, errors or omissions, which could expose its to operational, financial and reputational risks.
If the price of energy sources increases, the company operating expenses could increase significantly and its results of operations and cash flows could be materially and adversely affected.
The company insurance coverage may not adequately protect its against all material hazards, which may adversely affect the company business, results of operations and financial condition.
The company has in the past entered into related party transactions and may continue to does so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not has an adverse effect on the Company's financial condition and results of operations.
The company contingent liabilities as stated in its Restated Financial Statements could adversely affect the company financial condition.
Loans availed by the Company has been secured on personal guarantees of its directors. The company business, financial condition, results of operations, cash flows and prospects may be adversely affected in case of invocation of any personal guarantees provided by its Directors.
One of the company Directors is unable to trace her educational qualification documents.
An inability to comply with repayment and other covenants in the financing agreements or otherwise meet the company debt servicing obligations could adversely affect its business, financial condition, cash flows and credit rating.
In addition to normal remuneration, other benefits and reimbursement of expenses, some of the company Directors (Promoters) are interested in its Company through their shareholding and dividend entitlement, and has also provided personal guarantees in respect of certain borrowings of the Company.
The company Promoter and the Promoter Group will jointly continue to retain majority shareholding in its Company after the issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
Any non-compliance or delays in ESIC, EPF and GST Return Filings may expose the company to penalties from the regulators.
The company has not commissioned an industry report for the disclosures made in the section titled `Its Industry' and made disclosures on the basis of the data available on the internet and such data has not been independently verified by the company.
None of the Executive Directors of the Company has experience of being a director of a public listed company.
The company future funding requirements, whether met through issuance of equity shares or other securities and/or through borrowings, may be prejudicial to the interests of its shareholders depending on the terms on which such funds is raised.
The Company is yet to place orders for the plant and machinery. Any delay in placing orders or procurement of such plant and machinery may delay the schedule of implementation and possibly increase the cost of commissioning the manufacturing unit.
The company ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company financing arrangements.
The company is subject to impact of foreign exchange fluctuation. Any significant movement in foreign exchange rates, could adversely impact its costs of sourcing raw materials through imports, which in turn could adversely impact the company operations.
Certain key performance indicators for the company listed industry peer included in this Red Herring Prospectus has been sourced from public sources and there is no assurance that such financial and other industry information is complete.
The requirements of being a public listed company may strain the company resources and impose additional requirements.
Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
Any future issuance of Equity Shares or convertible securities, including options under any stock option plan or other equity linked securities may dilute your shareholding, and significant sales of Equity Shares by the company major shareholders, may adversely affect the trading price of its Equity Shares.
The company has not identified any alternate source of raising the funds mentioned as its `Objects of the Issue'. Any shortfall or delay in raising / meeting the same could adversely affect the company growth plans, operations and financial performance.
The company propose to utilize the Net Proceeds for purposes identified in the section titled "Objects of the Issue" in this Red Herring Prospectus. Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior shareholders' approval.
The company funding requirements and the proposed utilization of Net Proceeds has not been appraised by any independent agency, which may pose risks to the effective deployment of funds and could adversely impact its business operations and financial performance.
The average cost of acquisition of Equity Shares by the company Promoters is lower than the Offer price determined in consultation with Book Running Lead Manager in accordance with the SEBI ICDR Regulations.
There is restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
The Offer price of the company Equity Shares may not be indicative of the market price of its Equity Shares after the Offer and the market price of the company Equity Shares may decline below the offer price and you may not be able to Sell your Equity Shares at or above the Offer Price.
After this Offer, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop.
There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of BSE Limited in a timely manner, or at all.

Horizon Reclaim (India) Ltd Peer Comparison

Understand the company’s industry standing

Lead Reclaim and Rubber Products Limited

Horizon Reclaim (India) Ltd

Face Value

Standalone / Consolidated

Standalone

Total Income Rs. Cr.

39.99

50.01

EPS-Basis

4.73

7.37

EPS-Diluted

4.73

7.37

NAV Per Share

27.96

17.43

P/E-Basic EPS

19.04

---

P/E-Diluted EPS

---

RONW(%)

10.27

42.29

Latest NAV Period

---

Latest NAV

---

Journey for how to check the allotment status

How to check the allotment status of Horizon Reclaim (India) Ltd IPO?

Follow the steps

Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).

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The IPO opens on 12 Jun 2026 & closes on 16 Jun 2026.

Horizon Reclaim (India) Limited was originally incorporated as Horizon Reclaim (India) Private Limited' as a Private Limited Company at Saharanpur, dated August 21, 2006, with the Registrar of Companies, Uttar Pradesh and Uttaranchal. Thereafter, name of the Company was changed from Horizon Reclaim (India) Private Limited' to Horizon Reclaim (India) Limited', and a fresh certificate of incorporation was issued by the Central Processing Centre on May 06, 2025. Company 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, including Ethylene Propylene Diene Monomer (EPDM), a synthetic rubber known for its excellent resistance to heat. It offer reclaimed rubber in three main categories: (i) Natural Rubber Reclaim, produced from rubber tyre casings and tube commonly used in footwear soles, floor mats, tyre base layers, and moulded rubber products, (ii) Synthetic Rubber Reclaim, which includes EPDM and Butyl Reclaim Rubber suitable for applications requiring resistance to oil, heat, and weather, such as automotive seals, hoses, gaskets, and construction profiles and (iii) Crumb rubber made from recycle tyres and used in road construction, sport surfaces and construction materials like roofing sheets. Presently, Company carry on manufacturing operations through our production facility located at Haridwar, Uttarakhand, having the installed capacity of 14,100 MT for manufacturing reclaim rubber. In addition, Company installed plant and machinery at the manufacturing facility at Bhagwanpur, Haridwar (Unit III)in FY25. Further, Company has commenced construction, including installation of pyrolysis reactor, at the oil manufacturing facility in Rajkot, Gujarat (Unit III) in FY26. Company came up with the IPO for issuing 52,69,200 Equity shares of Rs 10 each through fresh issue on June 16, 2026.

Horizon Reclaim (India) Ltd IPO will close on 16 Jun 2026.

Experienced Promoters having deep domain knowledge to scale up the business.
Management team with an established track record.
Established track record of successfully completed orders.
Efficient operational team.

S.No	Promoters Name	Pre Issue Shares	Pre Issue Percentage	Post Issue Shares	Post Issue Percentage
1	Mohit Bajaj	10726880	75.3	10726880	54.97
2	Malika Bajaj	1922800	13.5	1922800	9.85
3	Ashok Kumar Bajaj HUF	200	---	200	---
4	Ashok Kumar Bajaj	1003883	7.05	1003883	5.14
5	Raj Mehta	1	---	1	---
6	Mohit Bajaj HUF	200	---	200	---
7	Syeon Bajaj	1	---	1	---

The company's business is capital intensive, and the company's inability to raise funds on acceptable terms when required could materially and adversely affect the company's business, financial condition and results of operations.
The company's business is working capital intensive. If the company is unable to generate sufficient cash flows to allow the company to make required payments, there may be an adverse effect on the company's results of operations
The company primarily operates on a purchase order-based model and does not have long-term contractual arrangements with the company's customers, which may adversely affect the stability and predictability of the company's revenues.
The Company is dependent on external suppliers for the company's raw material requirements.
The company's business is dependent on the company's manufacturing facility, and any disruption in manufacturing operations could adversely affect its business.
The company relies on third-party transportation providers for all of the company's input materials and product distribution. Failures by any of the company's transportation providers to deliver its input materials and products on time or at all, could result in loss in sales.
Rapid technological changes and advancements in manufacturing processes may render its existing technologies obsolete or require the company to incur significant capital expenditure to remain competitive.
The price, at which the company is able to obtain the raw material for manufacture of the company's finished products depend largely on prevailing market prices. Increase in costs of the company's raw materials could have a material adverse effect on the Company's business, profitability and results of operations and cash flows.
The Company and the company's Director are party to certain tax proceedings. Any adverse decision in such proceedings may have a material adverse effect on the company's business, results of operations and financial condition.
The company requires certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate its business, any failures to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect its operations.
The company may be unable to sufficiently obtain, maintain, protect, or enforce its intellectual property and other proprietary rights.
The company derives a significant portion of the company's revenues from a limited number of clients. The loss of any significant clients may have an adverse effect on the company's business, financial condition, results of operations, and prospect.
The company depends on a limited number of suppliers for raw materials. Any interruption in the availability of raw materials could adversely impact its operations. Further, any failures by the company's suppliers to provide raw materials to the company on time or at all, or as per the company's specifications and quality standards could have an adverse impact on the company's ability to meet its manufacturing and delivery schedules.
The company is subject to strict quality requirements and are consequently required to incur significant expenses to maintain the company's product quality. Any failures to comply with such quality standards may lead to cancellation of existing and future orders which may adversely affect its reputation, financial conditions, cash flows and results of operations.
The company may not be successful in effectively implementing our business and growth strategies, which could adversely affect its business and financial performance.
The company operates in a competitive industry, and increased competition may adversely affect its business, financial performance and market position.
Failures to manage its inventory could have an adverse effect on the company's net sales, profitability, cash flow and liquidity.
Under-utilization of the company's manufacturing capacities and an inability to effectively utilize its expanded manufacturing capacities could have an adverse effect on the company's business, future prospects and future financial performance.
The company's success is dependent on the company's Promoters, management team and skilled manpower. The company's inability to attract and retain key personnel or the loss of services of the company's Promoter or Managing Director, Whole time Directors and Executive Directors may have an adverse effect on the company's business prospects.
The Company has negative cash flows from its investing activities as well as financing activities in the past years, details of which are given below. Sustained negative cash flow could impact its growth and business.
Delays or defaults in client payments could affect its operations.
Certain non-compliances and deficiencies in corporate and statutory filings under the Companies Act, 1956 and the Companies Act, 2013 have occurred in the past. Any regulatory action or penalties arising therefrom may adversely affect its financial position and reputation.
The company's Registered Office is not owned by the company.
If the price of energy sources increases, the company's operating expenses could increase significantly and the company's results of operations and cash flows could be materially and adversely affected.
The company may be adversely affected by employee misconduct, errors or omissions, which could expose the company to operational, financial and reputational risks.
The company's insurance coverage may not adequately protect the company against all material hazards, which may adversely affect its business, results of operations and financial condition.
The company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
The company's contingent liabilities as stated in the company's Restated Financial Statements could adversely affect its financial condition.
Loans availed by the Company has been secured on personal guarantees of its directors. The company's business, financial condition, results of operations, cash flows and prospects may be adversely affected in case of invocation of any personal guarantees provided by the company's Directors.
An inability to comply with repayment and other covenants in the financing agreements or otherwise meet its debt servicing obligations could adversely affect the company's business, financial condition, cash flows and credit rating.
Certain of the company's Directors are unable to trace their educational qualification documents.
In addition to normal remuneration, other benefits and reimbursement of expenses, some of its Directors (Promoters) are interested in the Company through their shareholding and dividend entitlement, and have also provided personal guarantees in respect of certain borrowings of the Company.
The company's Promoter and the Promoter Group will jointly continue to retain majority shareholding in the Company after the issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
The company has not commissioned an industry report for the disclosures made in the section titled `the company's Industry' and made disclosures on the basis of the data available on the internet and such data has not been independently verified by the company.
Any non-compliance or delays in ESIC, EPF and GST Return Filings may expose the company to penalties from the regulators.
None of the Executive Directors of the Company have experience of being a director of a public listed company.
The company's future funding requirements, whether met through issuance of equity shares or other securities and/or through borrowings, may be prejudicial to the interests of the company's shareholders depending on the terms on which such funds are raised.
The Company is yet to place orders for the plant and machinery. Any delay in placing orders or procurement of such plant and machinery may delay the schedule of implementation and possibly increase the cost of commissioning the manufacturing unit.
The company's ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
The company is subject to impact of foreign exchange fluctuation. Any significant movement in foreign exchange rates, could adversely impact its costs of sourcing raw materials through imports, which in turn could adversely impact the company's operations.
Certain key performance indicators for the company's listed industry peer included in this Draft Red Herring Prospectus have been sourced from public sources and there is no assurance that such financial and other industry information is complete.
The requirements of being a public listed company may strain its resources and impose additional requirements.
Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
Any future issuance of Equity Shares or convertible securities, including options under any stock option plan or other equity linked securities may dilute your shareholding, and significant sales of Equity Shares by the company's major shareholders, may adversely affect the trading price of our Equity Shares.
The company has not identified any alternate source of raising the funds mentioned as the company's `Objects of the Issue'. any shortfall or delay in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
The company proposes to utilize the Net Proceeds for purposes identified in the section titled "Objects of the Issue" in this Draft Red Herring Prospectus. Any variation in the utilization of the Net Proceeds as disclosed in this Draft Red Herring Prospectus shall be subject to certain compliance requirements, including prior shareholders' approval.
The company's funding requirements and the proposed utilization of Net Proceeds have not been appraised by any independent agency, which may pose risks to the effective deployment of funds and could adversely impact its business operations and financial performance.
The average cost of acquisition of Equity Shares by our Promoters is lower than the Offer price determined in consultation with Book Running Lead Manager in accordance with the SEBI ICDR Regulations.
There are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time
The Offer price of the company's Equity Shares may not be indicative of the market price of the company's Equity Shares after the Offer and the market price of the company's Equity Shares may decline below the offer price and you may not be able to Sell your Equity Shares at or above the Offer Price
After this Offer, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop
There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of BSE Limited in a timely manner, or at all.
The company business is capital intensive, and its inability to raise funds on acceptable terms when required could materially and adversely affect the company business, financial condition and results of operations.
The company business is working capital intensive. If its is unable to generate sufficient cash flows to allow the company to make required payments, there may be an adverse effect on its results of operations
The company primarily operates on a purchase order-based model and does not has long-term contractual arrangements with its customers, which may adversely affect the stability and predictability of the company revenues.
The Company is dependent on external suppliers for its raw material requirements.
The company business is dependent on its manufacturing facility, and any disruption in manufacturing operations could adversely affect the company business.
The company relies on third-party transportation providers for all of its input materials and product distribution. Failures by any of the company transportation providers to deliver its input materials and products on time or at all, could result in loss in sales.
Rapid technological changes and advancements in manufacturing processes may render the company existing technologies obsolete or require its to incur significant capital expenditure to remain competitive.
The price, at which the company is able to obtain the raw material for manufacture of its finished products depends largely on prevailing market prices. Increase in costs of the company raw materials could has a material adverse effect on its Company's business, profitability and results of operations and cash flows.
The Company and its Director is party to certain tax proceedings. Any adverse decision in such proceedings may has a material adverse effect on the company business, results of operations and financial condition.
Certain non-compliances and deficiencies in corporate and statutory filings under the Companies Act, 1956 and the Companies Act, 2013 has occurred in the past. Any regulatory action or penalties arising therefrom may adversely affect the company financial position and reputation.
The company requires certain approvals and licenses in the ordinary course of business and is required to comply with certain rules and regulations to operates its business, any failures to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect the company operations.
The company derives a significant portion of its revenues from a limited number of clients. The loss of any significant clients may has an adverse effect on the company business, financial condition, results of operations, and prospect.
The company depends on a limited number of suppliers for raw materials. Any interruption in the availability of raw materials could adversely impact its operations. Further, any failures by its suppliers to provide raw materials to the company on time or at all, or as per its specifications and quality standards could has an adverse impact on the company ability to meet its manufacturing and delivery schedules.
The company may be unable to sufficiently obtain, maintain, protect, or enforce its intellectual property and other proprietary rights.
The Company has negative cash flows from its investing activities as well as financing activities in the past years, details of which is given below. Sustained negative cash flow could impact its growth and business.
The company is subject to strict quality requirements and is consequently required to incur significant expenses to maintain its product quality. Any failures to comply with such quality standards may lead to cancellation of existing and future orders which may adversely affect the company reputation, financial conditions, cash flows and results of operations.
The company may not be successful in effectively implementing its business and growth strategies, which could adversely affect the company business and financial performance.
Under-utilization of the company manufacturing capacities and an inability to effectively utilize its expanded manufacturing capacities could has an adverse effect on the company business, future prospects and future financial performance.
The company operates in a competitive industry, and increased competition may adversely affect its business, financial performance and market position.
Failures to manage the company inventory could has an adverse effect on its net sales, profitability, cash flow and liquidity.
The company success is dependent on its Promoters, management team and skilled manpower. Its inability to attract and retain key personnel or the loss of services of the company Promoter or Managing Director, Whole time Directors and Executive Directors may has an adverse effect on its business prospects.
Delays or defaults in client payments could affect the company operations.
Certain of the company properties, including its Registered Office and some of the company manufacturing units, is not owned by its.
Certain historical share allotments made against cash consideration is not supported by bank statements.
The company may be adversely affected by employee misconduct, errors or omissions, which could expose its to operational, financial and reputational risks.
If the price of energy sources increases, the company operating expenses could increase significantly and its results of operations and cash flows could be materially and adversely affected.
The company insurance coverage may not adequately protect its against all material hazards, which may adversely affect the company business, results of operations and financial condition.
The company has in the past entered into related party transactions and may continue to does so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not has an adverse effect on the Company's financial condition and results of operations.
The company contingent liabilities as stated in its Restated Financial Statements could adversely affect the company financial condition.
Loans availed by the Company has been secured on personal guarantees of its directors. The company business, financial condition, results of operations, cash flows and prospects may be adversely affected in case of invocation of any personal guarantees provided by its Directors.
One of the company Directors is unable to trace her educational qualification documents.
An inability to comply with repayment and other covenants in the financing agreements or otherwise meet the company debt servicing obligations could adversely affect its business, financial condition, cash flows and credit rating.
In addition to normal remuneration, other benefits and reimbursement of expenses, some of the company Directors (Promoters) are interested in its Company through their shareholding and dividend entitlement, and has also provided personal guarantees in respect of certain borrowings of the Company.
The company Promoter and the Promoter Group will jointly continue to retain majority shareholding in its Company after the issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
Any non-compliance or delays in ESIC, EPF and GST Return Filings may expose the company to penalties from the regulators.
The company has not commissioned an industry report for the disclosures made in the section titled `Its Industry' and made disclosures on the basis of the data available on the internet and such data has not been independently verified by the company.
None of the Executive Directors of the Company has experience of being a director of a public listed company.
The company future funding requirements, whether met through issuance of equity shares or other securities and/or through borrowings, may be prejudicial to the interests of its shareholders depending on the terms on which such funds is raised.
The Company is yet to place orders for the plant and machinery. Any delay in placing orders or procurement of such plant and machinery may delay the schedule of implementation and possibly increase the cost of commissioning the manufacturing unit.
The company ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company financing arrangements.
The company is subject to impact of foreign exchange fluctuation. Any significant movement in foreign exchange rates, could adversely impact its costs of sourcing raw materials through imports, which in turn could adversely impact the company operations.
Certain key performance indicators for the company listed industry peer included in this Red Herring Prospectus has been sourced from public sources and there is no assurance that such financial and other industry information is complete.
The requirements of being a public listed company may strain the company resources and impose additional requirements.
Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
Any future issuance of Equity Shares or convertible securities, including options under any stock option plan or other equity linked securities may dilute your shareholding, and significant sales of Equity Shares by the company major shareholders, may adversely affect the trading price of its Equity Shares.
The company has not identified any alternate source of raising the funds mentioned as its `Objects of the Issue'. Any shortfall or delay in raising / meeting the same could adversely affect the company growth plans, operations and financial performance.
The company propose to utilize the Net Proceeds for purposes identified in the section titled "Objects of the Issue" in this Red Herring Prospectus. Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior shareholders' approval.
The company funding requirements and the proposed utilization of Net Proceeds has not been appraised by any independent agency, which may pose risks to the effective deployment of funds and could adversely impact its business operations and financial performance.
The average cost of acquisition of Equity Shares by the company Promoters is lower than the Offer price determined in consultation with Book Running Lead Manager in accordance with the SEBI ICDR Regulations.
There is restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
The Offer price of the company Equity Shares may not be indicative of the market price of its Equity Shares after the Offer and the market price of the company Equity Shares may decline below the offer price and you may not be able to Sell your Equity Shares at or above the Offer Price.
After this Offer, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop.
There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of BSE Limited in a timely manner, or at all.

The Issue type of Horizon Reclaim (India) Ltd is Book Building - SME.

The minimum application for shares of Horizon Reclaim (India) Ltd is 2400.

The total shares issue of Horizon Reclaim (India) Ltd is 5269200.

Initial public offer of 52,69,200 equity shares of face value Rs.10/- each (the "Equity Shares") of Horizon Reclaim (India) Limited (the "Company" or "Horizon" or "Issuer") at an issue price of Rs. 103 per equity share (including a share premium of Rs. 93 per equity share) for cash, aggregating Rs. 54.27 Crores ("Public Issue") out of which 2,64,000 equity shares of face value Rs.10/- each, at an issue price of Rs. 103 per equity share for cash, aggregating Rs. 2.72 Crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The public issue less market maker reservation portion i.e. Issue of 50,05,200 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 103 per equity share for cash, aggregating Rs. 51.55 Crores is hereinafter referred to as the "Net Issue". The public issue and net issue will constitute 27.00% and 25.65% respectively of the post-issue paid-up equity share capital of the company. Price Band: Rs. 103/- per equity share of face value Rs. 10/- each. The floor price is 10.3 times of the face value of the equity shares. Bids can be made for a minimum of 2400 equity shares and in multiples of 1200 equity shares thereafter.

Horizon Reclaim (India) Ltd IPO

Objectives of Horizon Reclaim (India) Ltd IPO