Horizon Industrial Parks’ Rs 2,600 crore IPO opens. Check GMP, price band and other key details

The Horizon Industrial Parks IPO opened for subscription on Monday, with the issue attracting mild interest in the grey market. The IPO is currently commanding a 6% premium over its issue price, signalling expectations of a positive but modest listing gain.

The Rs 2,600 crore IPO is entirely a fresh issue of 43.34 crore shares. Investors can subscribe to the issue until August 19, 2026, while the allotment is expected to be finalised on August 20.

The company has fixed the price band at Rs 57-Rs 60 per share, with a minimum lot size of 250 shares. At the upper price band, retail investors will need to invest a minimum of Rs 15,000 for one lot.


The shares are proposed to be listed on both the NSE and BSE, with the tentative listing date set for August 21.

JM Financial Ltd. is the book-running lead manager for the issue, while Kfin Technologies Ltd. is acting as the registrar.

Horizon Industrial Parks IPO GMP

The Horizon Industrial Parks IPO continues to show a mildly positive trend in the grey market. The latest GMP stands at Rs 4 per share, translating to a 6% premium over the upper issue price of Rs 60. Based on the current GMP, the IPO is estimated to list at around Rs 64 per share, indicating a potential gain of approximately Rs 4 per share for investors at the upper price band.

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How IPO proceeds will be utilised

The company intends to use the net proceeds from the IPO primarily to reduce its debt obligations. Of the total proceeds, Rs 2,250 crore has been earmarked for the repayment and/or prepayment of certain borrowings.

A substantial portion of the funds will go towards repaying loans availed by the company and its wholly owned subsidiaries, including 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., and Kalina Warehousing Pvt. Ltd., among others.

The proposed debt reduction is expected to strengthen the company’s balance sheet and lower its financial obligations and associated costs. Any surplus proceeds may be utilised for general corporate purposes, subject to applicable laws and regulations.

Horizon Industrial Parks Ltd. Financial Performance

Horizon Industrial Parks Ltd. recorded a 75% year-on-year increase in total income, which rose from Rs 439.35 crore in FY25 to Rs 767.84 crore in FY26. Despite the strong growth in income, profitability remained under pressure, with the company’s net loss widening to Rs 203 crore in FY26 from Rs 178 crore in FY25.

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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).

The company develops and leases large, modern warehouses and industrial facilities to major companies. Its core asset types include Fulfillment Centers (Warehousing), Industrial Facilities, and In-City Centers: Located close to consumers to support last-mile delivery and used for dark stores, pharmaceuticals, cloud kitchens, retail, and services. The company has a total pipeline of 6.31 msf across seven cities. In addition, the company offers turnkey solutions, solar energy solutions, cold storage facilities, on-site staff accommodation, skill development centers, and other value-added services.

As of November 30, 2025, the company has served more than 100 customers across key sectors, including e-commerce, retail, fast-moving consumer goods (FMCG), renewable energy, auto-ancillary, and manufacturing. Its scale, technical capabilities, network of strategically located sites, and full-service offerings enable it to partner with both multinational corporations (MNCs) and domestic companies.

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