MC EXCLUSIVE Blackstone’s Horizon Industrial Parks raises $200 mn in pre-IPO round from SBI, RK Damani, others

Horizon Industrial Parks is India’s largest industrial and logistics infrastructure developer

Global private equity major Blackstone’s Indian warehousing platform Horizon Industrial Parks has raised $200 million in a pre-IPO funding round, which saw the participation of 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, sources aware of the development told Moneycontrol.

Wealth management platform 360 One also participated in the pre-IPO round through one of its funds, the sources added.

The sources added that Horizon is likely to file its draft red herring prospectus today with the market regulator SEBI to raise around $300 million.

Together with the pre-IPO funding and the IPO, Horizon is looking to raise around $500 million.

Blackstone declined to comment on Moneycontrol’s query. Spokespersons for SBI, 360 One, Damani and Kothari could not be immediately contacted for a comment.

Horizon Industrial Parks is India’s largest industrial and logistics infrastructure developer with a pan-India network spanning almost 60 million square feet of warehousing space, including 27 million of completed space, with 46 assets across 10 cities.

Horizon has India’s largest and only scaled in-city presence across 17 assets across  seven cities catering to booming demand for last mile logistics and direct access to over 20 million end consumers, the sources said.

Horizon is one of the several prominent warehousing players looking to tap the IPO market to raise funds to expand their portfolios.

Moneycontrol reported on July 28 that IndoSpace, another prominent warehousing platform backed by Everstone Group is planning to raise up to $1 billion through its IPO.

In July, TVS group arm TVS Logistics raised Rs 1,300 crore through an InvIT offering of its warehousing platform - TVS Infrastructure Trust, while NDR group raised Rs 880 crore through its warehouse InvIT in 2024.