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    Horizon Industrial Parks IPO

    Updated 11 Sept 2026, 5:03 pm.

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    GMP disclaimer: GMP is unofficial and unregulated. It is not a recommendation or a reliable estimate of listing price or returns. Consider the RHP and your own risk assessment before applying.

    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 history will appear after the scheduled sync records observations.

    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.

    Subscription by category

    As of 19 Aug 2026, 1:24 pm.

    Total subscription

    0.84x

    Qualified Institutional1.94×
    Non Institutional1.03×
    Retail Individual1.02×
    Employee Reservations1.50×

    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 Date17 to 19 Aug, 2026
    Listed onMon, Aug 24, 2026
    Face Value₹ 10 per share
    Price Band₹57 to ₹60
    Issue Price₹60 per share
    Lot Size250 Shares
    Sale TypeFresh capital only
    Issue TypeBookbuilding IPO
    Listing AtBSE, NSE
    Employee Discount₹ 5.00
    Total Issue Size43,33,76,374 shares (agg. up to ₹ 2,600 Cr)
    Fresh Issue43,33,76,374 shares (agg. up to ₹ 2,600 Cr)
    Share Holding Pre Issue2,44,95,26,460 shares
    Share Holding Post Issue2,88,29,02,834 shares
    BSE Script Code / NSE Symbol544880 / HORIZONIND
    ISININE685T01010

    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 CategoryShares% of Net Issue% of Total IssueMax Allottees
    QIB32,43,75,00075.00%74.84%NA
    − Anchor Investor19,46,25,00044.91%NA
    − QIB (Ex. Anchor)12,97,50,00029.94%NA
    NII (HNI)6,48,75,00015.00%14.97%NA
    − bNII > ₹10L4,32,50,0009.98%12,357
    − sNII < ₹10L2,16,25,0004.99%6,178
    Retail4,32,50,00010.00%9.98%1,73,000
    Preferential Reservations
    Employee9,09,0900.21%NA
    Total43,34,09,090100.00%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

    ApplicationLotsSharesAmount
    Retail (Min)1250₹15,000
    Retail (Max)133250₹1,95,000
    S-HNI (Min)143500₹2,10,000
    S-HNI (Max)6616500₹9,90,000
    B-HNI (Min)6716750₹10,05,000

    Investors can bid for a minimum of 250 shares and in multiples thereof.

    IPO Subscription Details

    IPO Anchor Investors

    Bid DateFri, Aug 14, 2026
    Shares Offered19,46,25,000
    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

    CategoryLimitCut-off
    RIIUp to ₹2 LakhsYes
    sNII₹2 Lakhs – ₹10 LakhsNo
    bNIIAbove ₹10 LakhsNo
    Employee (EMP)Up to ₹5 LakhsYes
    Employee + RII/NIIUp to ₹5Lakhs (EMP) + RII/NII limitsYes (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 Ended31 Mar 202631 Mar 202531 Mar 2024
    Assets13,495.139,851.544,993.18
    Total Income767.84439.35245.52
    Profit After Tax-203.65-178.78-162.21
    EBITDA607.80339.12151.51
    NET Worth4,676.16122.00266.95
    Reserves and Surplus3,214.54-530.09-334.75
    Total Borrowing6,884.347,009.113,688.21
    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 ObjectsEst Amt (₹ Cr.)
    1Repayment 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., Lakshmi2,250.00
    2General Corporate Purposes241.88
    3Issue Expenses108.12
    Total2,600.00

    The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

    Key Performance Indicator (KPI)

    KPIMar 31, 2026
    RoNW-4.23%
    EBITDA Margin79.16%
    NAV27.89
    Price to Book Value2.15

    IPO Valuation

    Valuation MetricPre IPOPost 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

    CategoryPre IPOPost IPO
    Promoter and Promoter Group88.74%75.4%
    Public11.26%24.60%
    Total100%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 BySubscribeMay ApplyNeutralAvoid
    Brokers4020
    Members0010

    IPO Subscription Status

    CategorySubscription (x)Shares OfferedShares bid for
    QIB (Ex Anchor)1.9412,98,06,81925,21,66,000
    NII1.036,48,86,3636,66,05,000
    bNII (> ₹10L)1.194,32,57,5765,15,01,250
    sNII (< ₹10L)0.702,16,28,7881,51,03,750
    Retail1.024,32,57,5764,39,12,250
    Employee1.648,33,33213,64,500
    Total1.5223,87,84,09036,40,47,750

    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 ExpensesEst Amt (₹ Cr.)
    1BRLMs fees and commissions (including any underwriting commission, brokerage and selling commission44.00
    2Commission 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 CDPs1.78
    3Fees payable to the Registrar to the Issue1.25
    4Auditors10.15
    5Fees payable to legal counsel17.97
    6Other experts and consultants17.82
    7Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses5.91
    8Printing and stationery0.52
    9Advertising and marketing expenses5.67
    10Miscellaneous3.05
    Total108.12

    Listing Day Trading Information

    Price DetailsBSENSE
    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