Reclaimed Rubber SME IPO Lists at +72.82%: What a 282x Subscribed IPO Looks Like | BSE SME Guide 2026
· 3 min read · Written by the BuyUnlistedShares desk. Information only, not investment advice.
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Last Updated: June 2026
A reclaimed rubber manufacturer listed on the BSE SME platform on June 19, 2026, with its shares listing at approximately ₹178 against an issue price of ₹103 per share.
The debut was a listing-day change of about +72.82% over the issue price for successful applicants. The issue was subscribed roughly 282–304 times overall, with participation from retail investors, high-net-worth individuals, and institutional investors.
Listing Day Snapshot
The listing price was above the final grey-market quote (an unofficial, indicative figure).
Business segment
The company operates in the reclaimed rubber segment of the manufacturing sector.
Rather than relying entirely on virgin rubber, manufacturers can use reclaimed rubber in a variety of products, including footwear, automotive components, industrial goods, and construction materials.
About the Company
Established in 2006 and headquartered in Saharanpur, Uttar Pradesh, the company processes discarded rubber materials such as:
· Used tyres
· Rubber tubes
· Tread peelings
· Industrial rubber scrap
These materials are converted into reclaimed rubber products that are subsequently supplied to industrial customers.
Key Business Highlights
The company has nearly two decades of operating history in reclaimed rubber manufacturing.
IPO Details at a Glance
The IPO consisted entirely of a fresh issue.
This means all capital raised through the IPO will go directly to the company rather than existing shareholders.
Subscription Numbers
Subscription Breakdown
These numbers indicate that demand far exceeded the number of shares available.
For every share offered by the company, investors collectively bid for roughly 282 to 304 shares.
High subscription does not guarantee future returns.
Financial Performance
The company reported a profit in FY25 and FY26.
Financial Snapshot
Notes on the figures
Revenue growth of approximately 37.4% and profit growth of nearly 48.5% mean that profit grew faster than revenue during FY26.
The Return on Net Worth (RoNW) is approximately 42.29%.
GMP vs Actual Listing
During the IPO process, the Grey Market Premium (GMP) steadily increased.
GMP Trend
The final GMP was ₹50: an unofficial, indicative grey-market figure, not a forecast.
The stock listed at approximately ₹178, a listing-day change of about +72.82% over the issue price. Past price moves do not indicate future returns.
About GMP
GMP should never be treated as a prediction.
Actual listing prices can differ significantly from GMP expectations, both positively and negatively.
Understanding SME IPOs
This IPO was listed on the BSE SME platform rather than the main board.
SME IPO vs Mainboard IPO
SME IPOs carry higher risks due to smaller business scale and lower post-listing liquidity.
What Was the Listing-Day Change?
For investors who received the minimum retail allotment of 2,400 shares, the notional gain at listing worked out to approximately ₹1.8 lakh.
However, because the IPO was subscribed more than 282 times, only a small percentage of applicants actually received allotment.
Disclaimer:
This is written for educational and informational purposes only. Nothing here constitutes investment advice or a recommendation to buy or sell securities. All data is sourced from publicly available information. Investments in securities markets are subject to market risks — please read all offer documents carefully before investing.
