Horizon Industrial Parks IPO Lists Today: Modest 3% Premium

Horizon Industrial Parks is set to list its Initial Public Offering today, August 24, following a Rs 2,600 crore fresh issue. The IPO, priced at Rs 60 per share, saw its grey market premium (GMP) at approximately Rs 2, hinting at a 3% gain.

The public issue was open for subscription from August 17 to August 19, attracting varied interest across investor categories.

Key IPO Figures

• IPO Size: Rs 2,600 crore
• Issue Price: Rs 60 per share
• Grey Market Premium (GMP): Rs 2 (~3% premium)
• Overall Subscription: 1.45 times
• Qualified Institutional Buyers (QIBs) Subscription: 1.85 times
• Retail Investors Subscription: 96%
• Non-Institutional Investors (NIIs) Subscription: 98%
• Fresh Issue Shares: 43.34 crore shares

The primary use of the IPO proceeds focuses on reducing the company’s debt burden. About Rs 2,250 crore from the net proceeds is earmarked for repaying or prepaying various borrowings.

This includes debt from wholly-owned subsidiaries like Bagur Logistics Park Pvt. Ltd. and Embassy Industrial Park Hosur Pvt. Ltd. Remaining funds will support general corporate activities.

Financial Overview

Horizon Industrial Parks reported a 75% year-on-year increase in total income, moving from Rs 439.35 crore in FY25 to Rs 767.84 crore in FY26. Despite this revenue growth, the company’s net loss expanded from Rs 178 crore in FY25 to Rs 203 crore in FY26.

Established in 2009 and backed by Blackstone Group, Horizon Industrial Parks operates as India’s largest industrial and logistics infrastructure developer. It manages 45 logistics and industrial assets across 10 major Indian cities, covering 58.01 million square feet.

The company specializes in developing modern warehouses, industrial facilities, and in-city centers for last-mile delivery. They also offer additional services such as turnkey solutions, solar energy, cold storage, and on-site staff accommodation.