Horizon Reclaim IPO raises ₹54.3 cr, shares jump 47%
Business
Horizon Reclaim (India) Limited just made a strong entrance on the BSE SME platform, with its shares opening at ₹151, up 47% from the IPO price of ₹103.
The company raised ₹54.3 crore through its IPO, offering 52.69 lakh equity shares to investors.
Horizon Reclaim IPO oversubscribed 282.8 times
The IPO was a hit, getting oversubscribed by 282.8 times: retail investors alone subscribed 308.3 times!
Horizon Reclaim plans to use the funds for paying off debt, boosting working capital, and expanding production with new machinery.
The company focuses on making reclaimed rubber products used in manufacturing industries.