Horizon Industrial Parks IPO: ₹2,600 Cr Launch on Aug 17

Blackstone-backed Horizon Industrial Parks is launching its Rs 2,600 crore Initial Public Offering (IPO) on August 17. Shares are priced between Rs 57 and Rs 60 per share, with the issue closing on August 19.

Key IPO Figures

• IPO Size: Rs 2,600 crore
• Price Band: Rs 57 to Rs 60 per share
• Post-Issue Market Cap (upper end): Rs 17,298 crore
• Proceeds for Borrowing Repayment: Rs 2,250 crore
• Blackstone’s Current Stake: approximately 89 percent

The IPO consists entirely of a fresh issue of equity shares, without an Offer For Sale component. A significant Rs 2,250 crore from the proceeds is earmarked to repay existing borrowings.

As of March 2026, Horizon Industrial Parks’ total borrowings amounted to Rs 6,884 crore. Blackstone currently holds an approximate 89 percent stake in the company.

Blackstone’s India Footprint

Asheesh Mohta, Head of Real Estate India at Blackstone, stated this IPO marks Blackstone’s 15th in India. This is also their 7th real estate listing, underscoring their commitment to Indian capital markets.

Horizon Industrial Parks operates as an industrial and logistics infrastructure developer, managing around 60 million square feet across 46 assets in 10 Indian cities. CEO Urvish Rambhia noted the company’s rapid growth over six years.

For fiscal year 2026, Horizon Industrial Parks reported a loss of Rs 203.65 crore. Revenues for the same period were Rs 691.38 crore.

IPO Allocation & Timeline

• Qualified Institutional Buyers (QIBs): 75 percent
• Non-Institutional Investors (NIIs): 15 percent
• Retail Investors: 10 percent

Equity shares are slated for listing on both the BSE and NSE on August 24. Anchor investor bidding commenced on August 14.

Lead Managers

• Axis Capital
• JM Financial
• IIFL Capital Services
• SBI Capital Markets
• 360 ONE WAM

KFin Technologies is serving as the registrar for the issue.