Horizon Industrial Parks IPO
Updated 11 Sept 2026, 5:03 pm.
Minimum investment (Retail)
₹15,000
1 lot · 250 shares at the upper price band
Price band
₹60
Latest GMP
Not yet quoted
Est. listing price
—
Issue size
₹2600 Cr
GMP history
Each point is a recorded observation from the scheduled data sync.
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- Mainboard
- Price band
- ₹60
- Issue size
- ₹2600 Cr
- Lot size
- 250
- Opens
- 17 Aug 2026
- Closes
- 19 Aug 2026
- Allotment
- 20 Aug 2026
- Listing
- 24 Aug 2026
- Est. listing price
- —
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- Kfin Technologies Ltd.
- Minimum investment
- ₹15,000 (1 lot · 250 shares)
- Face value
- ₹10 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital only
- Fresh issue
- ₹2,600 Cr
- Listing at
- BSE, NSE
- Refunds
- 21 Aug 2026
- Shares credited
- 21 Aug 2026
- Promoter holding
- 88.74% before · 75.4% after
- Lead managers
- JM Financial Ltd., Axis Capital Ltd., IIFL Capital Services Ltd., SBI Capital Markets Ltd., 360 One WAM Ltd.
Offer documents & links
Subscription by category
As of 19 Aug 2026, 1:24 pm.
Total subscription
0.84x
Full issue details
Details as published for this issue, read 11 Sept 2026, 4:57 am. Verify against the RHP before applying.
IPO Details
| IPO Date | 17 to 19 Aug, 2026 |
|---|---|
| Listed on | Mon, Aug 24, 2026 |
| Face Value | ₹ 10 per share |
| Price Band | ₹57 to ₹60 |
| Issue Price | ₹60 per share |
| Lot Size | 250 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹ 5.00 |
| Total Issue Size | 43,33,76,374 shares (agg. up to ₹ 2,600 Cr) |
|---|---|
| Fresh Issue | 43,33,76,374 shares (agg. up to ₹ 2,600 Cr) |
| Share Holding Pre Issue | 2,44,95,26,460 shares |
| Share Holding Post Issue | 2,88,29,02,834 shares |
| BSE Script Code / NSE Symbol | 544880 / HORIZONIND |
| ISIN | INE685T01010 |
IPO Timetable
- IPO Open
- Mon, Aug 17, 2026
- IPO Close
- Wed, Aug 19, 2026
- Allotment
- Thu, Aug 20, 2026
- Refund
- Fri, Aug 21, 2026
- Credit of Shares
- Fri, Aug 21, 2026
- Listing
- Mon, Aug 24, 2026
Issue Reservation
| Investor Category | Shares | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB | 32,43,75,000 | 75.00% | 74.84% | NA |
| − Anchor Investor | 19,46,25,000 | — | 44.91% | NA |
| − QIB (Ex. Anchor) | 12,97,50,000 | — | 29.94% | NA |
| NII (HNI) | 6,48,75,000 | 15.00% | 14.97% | NA |
| − bNII > ₹10L | 4,32,50,000 | — | 9.98% | 12,357 |
| − sNII < ₹10L | 2,16,25,000 | — | 4.99% | 6,178 |
| Retail | 4,32,50,000 | 10.00% | 9.98% | 1,73,000 |
| Preferential Reservations | ||||
| Employee | 9,09,090 | — | 0.21% | NA |
| Total | 43,34,09,090 | 100.00% | 100.00% | — |
Horizon Industrial Parks IPO comprises a total issue size of 43,34,09,090 shares. The net offer to the public is 43,25,00,000 shares, after excluding 9,09,090 shares under a preferential allotment. Of the Net offer 32,43,75,000 (75.00%) are allocated to QIB , 6,48,75,000 (15.00%) allocated to NII 4,32,50,000 (10.00%) allocated to RII .
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 250 | ₹15,000 |
| Retail (Max) | 13 | 3250 | ₹1,95,000 |
| S-HNI (Min) | 14 | 3500 | ₹2,10,000 |
| S-HNI (Max) | 66 | 16500 | ₹9,90,000 |
| B-HNI (Min) | 67 | 16750 | ₹10,05,000 |
Investors can bid for a minimum of 250 shares and in multiples thereof.
IPO Subscription Details
IPO Anchor Investors
| Bid Date | Fri, Aug 14, 2026 |
|---|---|
| Shares Offered | 19,46,25,000 |
| Anchor Portion (₹ Cr.) | 1,167.75 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Sep 18, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Nov 17, 2026 |
Horizon Industrial Parks IPO raises ₹ 1,167.75 crore from anchor investors . Horizon Industrial Parks IPO Anchor bid date is August 14, 2026 .
IPO Anchor Investors List
Investor Category Reservations
| Category | Limit | Cut-off |
|---|---|---|
| RII | Up to ₹2 Lakhs | Yes |
| sNII | ₹2 Lakhs – ₹10 Lakhs | No |
| bNII | Above ₹10 Lakhs | No |
| Employee (EMP) | Up to ₹5 Lakhs | Yes |
| Employee + RII/NII | Up to ₹5Lakhs (EMP) + RII/NII limits | Yes (EMP/RII) |
About Horizon Industrial Parks Ltd.
Incorporated in 2009, Horizon Industrial Parks, backed by Blackstone Group, is India's largest industrial and logistics infrastructure developer, owner, and operator by total network, according to a JLL report. As of the DRHP date, the company owns 45 logistics and industrial assets across 10 major Indian cities, totaling 58.01 million square feet (msf).
Core Offerings
The company develops and leases large, modern warehouses and industrial facilities to major companies. Its core asset types include:
Fulfillment Centers (Warehousing): Used by e-commerce, FMCG, retail, and logistics companies, 15.55 msf (58%) of operational area as of Nov 30, 2025.
Industrial Facilities: Used for manufacturing, EVs, renewables, electronics, auto, etc, 10.36 msf (39%) of operational area as of Nov 30, 2025.
In-City Centers: Located close to consumers for last-mile delivery. Used for dark stores, pharma, cloud kitchens, retail, and service. Total pipeline of 6.31 msf across 7 cities.
Additionally, it also offers turnkey solutions, solar energy solutions, cold storage facilities, on-site staff accommodation, skill development centers, etc.
Customers: As of Nov 30, 2025, the company has served over 100 customers across key sectors, including e-commerce, retail, fast-moving consumer goods ("FMCG"), renewable energy, auto-ancillary, and manufacturing. Our scale, technical capabilities, network of strategically located sites, and full-service offerings allow us to partner with both multinational corporations ("MNCs").
Competitive Strengths
Largest player with premium-quality offerings strategically located across prime markets, including in-city locations with a fully integrated platform.
Well-positioned to benefit from strong industry tailwinds; Our business is derivative of India's manufacturing, consumption, and e-commerce tailwinds.
Strong customer relationship - A testament to our ability to lease and actively manage our assets with the ability to provide a comprehensive business ecosystem to our customers, not just real estate solutions.
Proven engineering and technical capabilities enabling the execution of complex industrial projects.
Proven expertise in development and acquisitions, backed by a strong track record of executing joint ventures and maintaining government partnerships.
Commitment to enhanced sustainability practices with high sustainability standards.
Highly skilled and professional leadership team.
Company Financials (Restated Consolidated)
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 13,495.13 | 9,851.54 | 4,993.18 |
| Total Income | 767.84 | 439.35 | 245.52 |
| Profit After Tax | -203.65 | -178.78 | -162.21 |
| EBITDA | 607.80 | 339.12 | 151.51 |
| NET Worth | 4,676.16 | 122.00 | 266.95 |
| Reserves and Surplus | 3,214.54 | -530.09 | -334.75 |
| Total Borrowing | 6,884.34 | 7,009.11 | 3,688.21 |
| Amount in ₹ Crore |
Horizon Industrial Parks Ltd.'s revenue increased by 75% and profit after tax (PAT) dropped by 14% between the financial year ending with March 31, 2026 and March 31, 2025.
IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment and/or prepayment, in part or full, of certain borrowings availed by the company and Certain wholly owned Subsidiaries of Company, namely Bagur Logistics Park Pvt.Ltd., Embassy Industrial Park Hosur Pvt.Ltd., Farukhnagar Logistics Parks LLP, FRK II Industrial Park Pvt.Ltd., Goodluck Buildtech Pvt.Ltd., ILV Distripark Pvt.Ltd., ILV Distripark (MWC) Pvt.Ltd., Jindpur Industrial Park Pvt.Ltd., Kalina Warehousing Pvt.Ltd., Lakshmi | 2,250.00 |
| 2 | General Corporate Purposes | 241.88 |
| 3 | Issue Expenses | 108.12 |
| Total | 2,600.00 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 |
|---|---|
| RoNW | -4.23% |
| EBITDA Margin | 79.16% |
| NAV | 27.89 |
| Price to Book Value | 2.15 |
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | -0.83 | -ve |
| P/E (x) | -72.29 | -ve |
| Market Cap at Offer Price | ₹14,697Cr. | ₹16,766.96 Cr |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.
Shareholding Structure
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 88.74% | 75.4% |
| Public | 11.26% | 24.60% |
| Total | 100% | 100% |
Company Promoters: BREP Asia II EIP Holding (NQ) Pte.Ltd., Brep ASIA II Indian Holdings Co.VI (NQ) Pte.Ltd. and BREP Asia III India Holdings Co.III Pte.Ltd..
Horizon Industrial Parks IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 4 | 0 | 2 | 0 |
| Members | 0 | 0 | 1 | 0 |
IPO Subscription Status
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 1.94 | 12,98,06,819 | 25,21,66,000 |
| NII | 1.03 | 6,48,86,363 | 6,66,05,000 |
| bNII (> ₹10L) | 1.19 | 4,32,57,576 | 5,15,01,250 |
| sNII (< ₹10L) | 0.70 | 2,16,28,788 | 1,51,03,750 |
| Retail | 1.02 | 4,32,57,576 | 4,39,12,250 |
| Employee | 1.64 | 8,33,332 | 13,64,500 |
| Total | 1.52 | 23,87,84,090 | 36,40,47,750 |
The Horizon Industrial Parks IPO is subscribed 1.52 times on August 19, 2026 6:54:09 PM (Day 3). The public issue subscribed 1.02 times in the retail category, 1.94 times in the QIB category, and 1.03 times in the NII category. Check Day by Day Subscription Details (Live Status)
Reload
Total Applications: 1,39,387
IPO Expenses
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including any underwriting commission, brokerage and selling commission | 44.00 |
| 2 | Commission and/or processing fee for SCSBs and Bankers to the Issue and fees payable to the Sponsor Bank(s) for Bids made by UPI Bidders. Brokerage, selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 1.78 |
| 3 | Fees payable to the Registrar to the Issue | 1.25 |
| 4 | Auditors | 10.15 |
| 5 | Fees payable to legal counsel | 17.97 |
| 6 | Other experts and consultants | 17.82 |
| 7 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 5.91 |
| 8 | Printing and stationery | 0.52 |
| 9 | Advertising and marketing expenses | 5.67 |
| 10 | Miscellaneous | 3.05 |
| Total | 108.12 |
Listing Day Trading Information
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹ 60.00 | ₹ 60.00 |
| Open | ₹ 59.65 | ₹ 60.25 |
| Low | ₹ 56.60 | ₹ 56.57 |
| High | ₹ 60.20 | ₹ 60.25 |
| Last Trade | ₹ 57.95 | ₹ 58.16 |
Check IPO Performance…
IPO Registrar
Kfin Technologies Ltd.
040-79615565
horizon.ipo@kfintech.com
IPO Lead Manager(s)
JM Financial Ltd.
Axis Capital Ltd.
IIFL Capital Services Ltd.
SBI Capital Markets Ltd.
360 One WAM Ltd.
Contact Details
Horizon Industrial Parks Ltd. Address
One World Centre, Unit No 1501B
Tower 1, 841, Jupiter Textile Mills
Senapati Bapat Marg
Mumbai, Maharashtra , 400013
+91 22 4158 1000
complianceofficer@hiparks.com
Horizon Industrial Parks IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
Cyril Amarchand Mangaldas acted as the Indian legal counsel to Horizon Industrial Parks Ltd. on 26,000.00 million IPO
SCC Online · 4 Sept 2026
Cyril Amarchand Mangaldas acted as the Indian legal counsel to Horizon Industrial Parks Ltd. on 26,000.00 million IPO
SCC Online · 4 Sept 2026
CAM, Khaitan, L&W act on Horizon Industrial Parks’ INR 2,600 crore IPO
ETLegalWorld.com · 2 Sept 2026
Cyril Amarchand Mangaldas, Khaitan & Co act on Horizon Industrial Parks ₹2,600 crore IPO
Bar and Bench · 31 Aug 2026
Horizon Industrial Parks eyes ₹300 crore annual interest savings as IPO proceeds cut debt
cnbctv18.com · 26 Aug 2026
Horizon Industrial Parks shares list flat at IPO price of Rs 60 on BSE, NSE
economictimes.com · 24 Aug 2026
Horizon Industrial Parks shares list flat on market debut; should you buy, sell or hold?
Moneycontrol.com · 24 Aug 2026