Horizon Industrial Parks Limited, backed by affiliates of Blackstone, is India’s largest industrial and logistics infrastructure developer, owner and operator by Total Network, according to JLL. It develops and operates Grade A fulfillment centers, industrial facilities, and in-city centers across India. As of the date of the RHP, Horizon had a pan-India network of 45 assets across 10 cities, totaling 58.58 million square feet (msf).
Core Offerings:
- Fulfillment Centers: Large-scale warehouses serving e-commerce, 3PL, FMCG, and retail customers. As of May 31, 2026, they covered 16.34 msf, or 57.23% of the Operational Network.
- Industrial Facilities: Facilities for manufacturing, assembly, and storage across sectors such as EVs, automotive, electronics, renewable energy, and aerospace.
- In-City Centers: Strategically located facilities near dense residential and consumption hubs, supporting dark stores, micro-fulfillment, pharma, cloud kitchens, and other last-mile businesses. Horizon had 17 centers with 6.91 msf potential.
Horizon offers end-to-end solutions including turnkey facilities, plug-and-play spaces, cold storage, solar energy, staff accommodation, and skill-development centers. It had 21.31 MW of operational rooftop solar capacity as of May 31, 2026.
As of May 31, 2026, Horizon served more than 118 customers across key sectors including e-commerce, q-commerce, 3PL, FMCG, retail, auto and auto-components, renewable energy, packaging, and other manufacturing. Its customer base includes both multinational corporations and domestic companies.
The company had a diversified customer base, with 54.05% of its committed Operational Network contracted to Fortune 500 companies as of May 31, 2026.
Horizon Industrial Parks IPO – Details
| IPO Opening Date | 17 August 2026 |
| IPO Closing Date | 19 August 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 43,34,09,090 Shares Worth ₹2600.00 Crore Fresh Issue: 43,34,09,090 Shares Worth ₹2600.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹57 – ₹60 per share |
| Market Lot | 250 Shares |
| Min Order | 250 Shares [1 Lot] |
| Employee Discount | ₹5 |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Ltd. |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Horizon Industrial Parks IPO – Date Schedule
| IPO Open Date | 17 August 2026 |
| IPO Close Date | 19 August 2026 |
| Basis of Allotment | 20 August 2026 |
| Initiation of Refund | 21 August 2026 |
| Credit of Shares to Demat Account | 21 August 2026 |
| IPO Listing Date | 24 August 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 19, 2026 |
Horizon Industrial Parks IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 250 | ₹15,000 |
| Retail (Max) | 13 | 3,250 | ₹1,95,000 |
| S-HNI (Min) | 14 | 3,500 | ₹2,10,000 |
| S-HNI (Max) | 66 | 16,500 | ₹9,90,000 |
| B-HNI (Min) | 67 | 16,750 | ₹10,05,000 |
Competitive Strength
- 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 Promoters
- BREP Asia II EIP Holding (NQ) Pte.Ltd.
- Brep ASIA II Indian Holdings Co.VI (NQ) Pte.Ltd.
- BREP Asia III India Holdings Co.III Pte.Ltd..
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹245.52 Cr | ₹403.00 Cr | – ₹162.21 Cr | ₹3,688.21 Cr |
| 31 March 2025 | ₹439.35 Cr | ₹596.41 Cr | – ₹178.78 Cr | ₹7,009.11 Cr |
| 31 March 2026 | ₹767.84 Cr | ₹965.14 Cr | – ₹203.65 Cr | ₹6,884.34 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | – |
| ROCE | – |
| Debt/Equity | – |
| RoNW | – |
| PAT Margin | – |
| NAV | – |
| Pre IPO | Post IPO | |
| EPS (₹) | – | – |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Repayment and/or prepayment, in part or in full, of certain borrowings availed by the company and Certain wholly owned Subsidiaries of the 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 |
| General Corporate Purposes. |
Horizon Industrial Parks IPO Peer Comparison
- According to the JLL Report, there are no listed companies in India or other major selected economies with a business model directly comparable to Horizon Industrial Parks, as the company operates as a pure-play industrial and logistics park developer, owner and operator. Therefore, the RHP does not provide a direct industry peer comparison for Horizon.
✅Strengths
- Market leader with 58.58 msf network across 45 assets.
- 93.56% committed occupancy in operational portfolio.
- Strong presence across major industrial and consumption hubs.
- Strong customer relationships with integrated logistics solutions.
- Experienced management backed by the Blackstone Group.
⚠️Risks
- Company has reported losses in FY24, FY25 and FY26.
- High borrowings of around ₹6,884 crore.
- Large development pipeline faces construction and cost-overrun risks.
- Top 10 customers contributed 42.60% of FY26 revenue.
- Certain assets face land title, lease and regulatory risks.
Horizon Industrial Parks IPO Promoter Holding
| Pre-Issue Share Holding | 88.74% |
| Post Issue Share Holding | 75.40% |
Horizon Industrial Parks IPO Prospectus
Company Contact Information
| Horizon Industrial Parks Limited One World Centre, Unit No 1501B Tower 1, 841, Jupiter Textile Mills Senapati Bapat Marg Mumbai, Maharashtra, 400013 Phone: +91 22 4158 1000 Email: complianceofficer@hiparks.com Website: https://www.hiparks.com/ |
Horizon Industrial Parks IPO Registrar
| Kfin Technologies Ltd. Phone: 040-79615565 Email: horizon.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
Horizon Industrial Parks IPO Lead Manager(s)
| 1. Axis Capital Limited 2. JM Financial Limited 3. 360 ONE WAM Limited 4. SBI Capital Markets Limited 5. IIFL Capital Services Limited |
Horizon Industrial Parks IPO FAQs
| What is the Horizon Industrial Parks IPO? Horizon Industrial Parks IPO is a main-board IPO. The issue is priced at ₹57 to ₹60 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the Horizon Industrial Parks IPO open? The IPO is to open on 17 August 2026 for QIB, NII, and Retail Investors. |
| What is Horizon Industrial Parks IPO investors’ portion? The investors’ portion is QIB – 75%, NII – 15%, and Retail – 10%. |
| What is the Horizon Industrial Parks IPO Size? Horizon Industrial Parks IPO size is ₹2,600.00 crore. |
| What are the Horizon Industrial Parks IPO Minimum and maximum lot sizes for Retail? The minimum bid is 250 Shares with ₹15,000, while the maximum bid is 3250 Shares with ₹1,95,000. |
| What is the Horizon Industrial Parks IPO Allotment Date? Horizon Industrial Parks IPO allotment date is 20 August 2026. |
| What is the Horizon Industrial Parks IPO Listing Date? Horizon Industrial Parks IPO listing date is 24 August 2026. The IPO is to be listed on the BSE and the NSE. |
