Horizon Industrial Parks has taken a key step toward going public by filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a proposed initial public offering (IPO).
The offering is expected to mobilise close to US$500 million (approximately ₹4,250 crore). This includes a pre-IPO placement of about US$200 million (₹1,650 crore) and a primary issue estimated at around US$300 million (₹2,600 crore).
Positioned as one of India’s largest integrated developers and operators of industrial and logistics infrastructure by total network area, Horizon Industrial Parks delivers a comprehensive range of solutions including fulfilment centres, industrial facilities and urban logistics hubs. Its pan-India footprint spans nearly 60 million square feet, with around 27 million square feet already completed, distributed across 46 assets in 10 cities.
A distinctive feature of the platform is its strong in-city logistics presence, comprising 17 assets across seven cities. This network enables efficient last-mile connectivity, serving more than 20 million end consumers.
The company is promoted solely by Blackstone and has scaled rapidly since Blackstone’s initial investment in 2020, building its portfolio within a span of five years. Horizon’s integrated model brings together development, ownership and operations, supporting the delivery of modern Grade A industrial and logistics infrastructure across India.
Operationally, the portfolio reflects healthy fundamentals, with committed occupancy of approximately 95% and a diversified customer base of over 100 clients. Nearly 60% of these customers belong to the Fortune 500 universe.
Ahead of the DRHP filing, Horizon Industrial Parks raised close to US$200 million through a pre-IPO funding round, attracting participation from a group of prominent investors including 360 ONE, SBI Life Insurance, SBI, Radhakishan Damani, EAAA and DSP Investments, among others.
JM Financial Limited, Axis Capital Limited, IIFL Capital Services Limited, SBI Capital Markets Limited and 360 ONE WAM Limited have been appointed as the book running lead managers for the proposed issue.
