Horizon Industrial Parks
Horizon Industrial Parks is a leading industrial and logistics infrastructure developer in India, specializing in the development and leasing of Grade A warehouses, fulfillment centers, and in-city delivery hubs. The company operates across 10 major Indian cities, serving critical sectors including e-commerce, FMCG, pharmaceuticals, and electronics.
Price Band
₹57 - ₹60
Lot Size
250 Shares
Issue Size
₹2,600.00 Cr
Fresh Issue
₹2,600.00 Cr
OFS
N/A
Registrar
AI Sentiment Score
Listing Price
₹60.25
vs Issue: ₹60 (+0.42%)
📅 IPO Timeline
✓
Open
Aug 17, 2026
✓
Close
Aug 19, 2026
✓
Allotment
Aug 20, 2026
✓
Refund
Aug 21, 2026
✓
Demat
Aug 21, 2026
✓
Listing
Aug 24, 2026
✨ AI Analysis & Prediction
-2.3%
predicted listing gain
The predicted listing gain is adjusted downwards from the GMP baseline due to the company reporting consistent net losses despite revenue growth and a negative Return on Net Worth (-4.09%). While the issue is 100% fresh issue for debt repayment, the lack of profitability and a high asset-to-equity gap creates a risk-adjusted negative sentiment.
💪 Strengths
- Largest Grade A industrial and warehouse portfolio in India
- Diversified client base across FMCG, EV, and Pharma sectors
⚠️ Weaknesses
- Consistent and increasing net losses over the last 3 years
- Negative Return on Net Worth (RoNW)
🚀 Opportunities
- Expansion into Bengaluru region with 100 additional acres
- Growth in India's e-commerce and last-mile delivery infrastructure
🛡️ Threats
- High debt burden requiring substantial IPO proceeds for repayment
- Intense competition in the logistics and industrial park segment
🎯 Objectives of the IPO
| Requirement / Purpose | Amount (₹ Cr) |
|---|---|
| Repayment and/or prepayment, in part or full, of certain borrowings availed by the company and Certain wholly owned Subsidiaries of our Company, namely Bagur Logistics Park Private Limited, Embassy Industrial Park Hosur Private Limited, Farukhnagar Logistics Parks LLP, FRK II Industrial Park Private Limited, Goodluck Buildtech Private Limited, ILV Distripark Private Limited, ILV Distripark (MWC) Private Limited, Jindpur Industrial Park Private Limited, Kalina Warehousing Private Limited, Lakshmi | ₹2,250.00 |
| General Corporate Purpose | ₹350.00 |
📊 Financial Overview
| Metric | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue (₹ Cr) | Rs 234.00 Cr | Rs 390.00 Cr | Rs 691.00 Cr |
| Net Profit / PAT (₹ Cr) | Rs -139.00 Cr | Rs -179.00 Cr | Rs -204.00 Cr |
| EBITDA / Op. Profit (₹ Cr) | Rs 137.00 Cr | Rs 290.00 Cr | Rs 531.00 Cr |
| Borrowings (₹ Cr) | Rs 3,294.00 Cr | Rs 7,017.00 Cr | Rs 6,904.00 Cr |
| Total Assets (₹ Cr) | Rs 4,290.00 Cr | Rs 9,835.00 Cr | Rs 13,495.00 Cr |
| ROCE % | 2.00% | 3.00% | 3.00% |
📋 Live Subscription Status
QIB
1.85x
NII
1.13x
Retail
0.96x
Total
1.45x
Updated: Sep 12, 2026 2:29 PM
💼 Reservation Quota
QIB
75.00%
Retail
10.00%
NII
15.00%
📈 Shareholding & Anchor Lock-In
🔗 Important Links & Lead Managers
- Check Allotment StatusCheck Now →
- Registrar WebsiteVisit →
- Download DRHP ProspectusDownload PDF 📥
- Download RHP ProspectusDownload PDF 📥
Lead Managers / Merchant Bankers
This issue is managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd.
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.
Founded in 2009, Horizon Industrial Parks has evolved into one of India's premier industrial and logistics infrastructure developers. Over the past 17 years, the firm has strategically expanded its footprint to create a massive portfolio of modern warehousing and manufacturing spaces designed to meet the needs of high-growth industries.
The company's business model centers on developing and leasing large-scale, Grade A industrial assets. This includes fulfillment centers for warehousing, specialized industrial facilities for manufacturing, and strategic in-city centers that facilitate last-mile delivery, ensuring a comprehensive logistics chain for its clients.
Operationally, the firm manages 45 logistics and industrial parks across 10 key Indian markets, covering over 2,200 acres of land. The company continues to scale its operations, with active plans to acquire an additional 100 acres in the Bengaluru region to meet rising demand for industrial space.
Horizon Industrial Parks serves a diverse client base across high-impact sectors such as e-commerce, FMCG, electric vehicles (EVs), electronics, retail, and pharma. This diversification allows the company to remain resilient across different economic cycles within the logistics sector.
The company is backed by prominent promoters including 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., providing it with strong institutional backing and global expertise in real estate investment.
Horizon Industrial Parks is launching a Mainboard IPO to raise approximately ₹2,600 crore through a fresh issue of equity shares. The price band is set between ₹57 to ₹60 per share, with a minimum retail lot size of 250 shares requiring an investment of ₹15,000. The issue opens on August 17, 2026, and closes on August 19, 2026, with the listing scheduled for August 24, 2026, on both the BSE and NSE.
The proceeds from this fresh issue are primarily earmarked for the repayment or prepayment of borrowings. Specifically, ₹2,250 crore will be used to clear debts of the company and its various wholly-owned subsidiaries, such as Bagur Logistics Park and Embassy Industrial Park Hosur, significantly reducing the group's leverage.
Financially, the company has shown aggressive top-line growth, with revenue increasing from ₹245.52 crore in 2024 to ₹767.84 crore in 2026. However, the bottom line remains a concern, as the company reported consistent losses, increasing from ₹162.21 crore in 2024 to ₹203.65 crore in 2026, reflecting high operational costs or interest burdens.
In terms of valuation, the company reports a negative basic EPS of ₹(0.95) and a Return on Net Worth (RoNW) of -4.09%. With no listed peers provided for a direct P/E comparison, the valuation relies heavily on the Net Asset Value (NAV), which stands at ₹23.29, suggesting the IPO is priced at a significant premium to its book value.
Key strengths include the company's massive Grade A portfolio and its strategic presence in 10 major cities. However, the persistent losses and the heavy reliance on the IPO proceeds to pay off debt are significant risk factors for investors.
Investors should view this IPO as a long-term play on India's logistics and warehousing growth. While the asset base is impressive, the lack of current profitability suggests a cautious approach, focusing on the company's ability to turn operational efficiency into net profits post-debt repayment.