Upcoming IPO: Horizon Industrial Parks Filed DRHP with SEBI for ₹2,600 Crore IPO

Blackstone-backed Horizon Industrial Parks has filed its draft red herring prospectus (DRHP) with market regulator SEBI to raise ₹2,600 crore through an initial public offering (IPO). JM Financial, IIFL Capital Services, SBI Capital Markets, and 360 ONE WAM are acting as the merchant bankers to the issue.

Horizon Industrial Parks IPO Details

The proposed Horizon Industrial Parks IPO will consist entirely of a fresh issue of shares. As per the DRHP, the company intends to deploy approximately ₹2,250 crore from the IPO proceeds towards repayment of borrowings.

Backing of Institutional Investors

According to the draft documents, private equity firm Blackstone currently owns an 89% stake in the company. Blackstone made its initial investment in the platform in 2020 and has steadily scaled the business over the past five years, the draft papers noted.

The IPO size has been pared down to ₹2,600 crore following a successful pre-IPO fundraising round, in which the integrated industrial and logistics platform raised ₹1,650 crore. Investors in the pre-IPO round included 360 ONE, SBI Life Insurance, State Bank of India, Radhakishan Damani, EAAA, and DSP Investments.

Also Read: Upcoming IPO: SEBI Approved DRHP of 4 Companies, Including Shivalaya Construction and Varmora Granito

About Horizon Industrial Parks

Horizon Industrial Parks operates as an industrial and logistics infrastructure developer, owner, and operator, with a pan-India portfolio spanning around 60 million square feet across 46 assets in 10 cities.

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