Home Zone Rubber Solutions Rolls Out IPO with Green Ambitions

Home Zone Rubber Solutions Ltd, a key player in the circular economy for the rubber industry, has initiated the process to raise funds via an IPO. The funds will support the purchase of equipment, loan repayment, and general corporate purposes. The firm focuses on recycling to conserve natural resources.

Home Zone Rubber Solutions Ltd is stepping into the public market by filing preliminary papers with the BSE to launch an Initial Public Offering (IPO). This move signals a strategic expansion for the company, which is a noted leader in the circular economy within the rubber industry.

The IPO aims to issue 99.03 lakh fresh equity shares alongside an Offer for Sale (OFS) of 9.93 lakh shares by promoter Jitendra Ramesh Agarwal. The shares will be listed on the BSE SME platform, broadening the company's market presence.

Proceeds from the IPO will be allocated toward acquiring new plant and machinery, settling term loans, and addressing general corporate needs. With a manufacturing facility near Valsad, Gujarat, Home Zone focuses on recycling rubber to conserve natural resources. The firm reported revenues of Rs 45.49 crore and profits of Rs 4.16 crore for the first half of the fiscal year ending in September 2024. Horizon Management leads the IPO, with Maashitla Securities as registrar.

(With inputs from agencies.)