Global private equity major Blackstone-promoted Horizon Industrial Parks, India's largest industrial and logistics infrastructure developer, has filed preliminary papers with SEBI on December 29 to raise up to Rs 2,600 crore via Initial Public Offering (IPO).
The IPO comprises of entirely fresh issue with no offer-for-sale component.
The Indian warehousing platform may consider a pre-IPO placement amounting to Rs 520 crore before the filing of Red Herring Prospectus with the Registrar of Companies i.e. before the IPO launch, which is a part of fresh issue component.
Moneycontrol was the first to report on December 29 that Horizon Industrial Parks has raised $200 million in a pre-IPO funding round. SBI group, through the parent bank as well as its life insurance arm, and prominent HNIs such as D-Mart founder Radhakishan Damani and DSP group founder Hemendra Kothari participated in the pre-IPO round.
As per the DRHP filing, Blackstone through its three investment vehicles held 88.74 percent stake in the company, while the remainder 11.26 percent shares are owned by the public including 360 ONE Real Assets Advantage Fund (1.47 percent shares), SBI Life Insurance Company (1.37 percent), and Radhakishan Damani (1.37 percent).
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The industrial and logistics company operates pan-India network of 45 assets, and is in the process of acquiring a 100 acres land parcel with the potential to develop 2.55 msf (million square feet) in Bangalore.
Post this acquisition, "our network will expand to 60.56 msf across 46 assets," said Horizon Industrial Parks which has built this network through strategic acquisitions, and greenfield developments.
The logistics platform that leverages Blackstone’s global expertise in the logistics sector with more than 1.2 billion square feet of logistics holdings around the world, offering services to more than 100 customers in e-commerce, retail, fast-moving consumer goods (FMCG), renewable energy, auto - ancillary and manufacturing sectors in India.
Of the fresh issue proceeds, Horizon Industrial Parks will spend Rs 2,250 crore will be utilised for repaying certain borrowings availed by itself and its subsidiaries. And the remainder funds will be used for general corporate purposes.
On the financial front, the company has narrowed its losses to Rs 131 crore in the fiscal 2025, compared to loss of Rs 140 crore in previous year. Revenue in the same period surged nearly 54 percent to Rs 359.3 crore, up from Rs 233.6 crore.
Loss in the three months period ended June 2025 stood at Rs 57.6 crore on topline of Rs 128.6 crore.
JM Financial, Axis Capital, IIFL Capital Services, SBI Capital Markets, and 360 ONE WAM are appointed as the merchant bankers to manage the Horizon Industrial Parks IPO.
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