Horizon Industrial Parks’ ₹2,600 Crore IPO to Open on August 17 at ₹57-60 Price Band
The Blackstone backed logistics and industrial infrastructure company has fixed the issue price between ₹57 and ₹60 per share, with proceeds earmarked for debt repayment.
NEW DELHI, Aug 12: Blackstone backed Horizon Industrial Parks Ltd is set to launch its ₹2,600 crore Initial Public Offering (IPO) on August 17, offering shares in a price range of ₹57 to ₹60 apiece.
The three-day share sale will remain open until August 19, while anchor investors will be given an opportunity to participate on August 14, according to the company’s public announcement.
The issue consists entirely of a fresh issuance of equity shares worth up to ₹2,600 crore. There is no Offer for Sale component, meaning the proceeds will go directly to the company.
Horizon Industrial Parks plans to utilise the funds raised through the offering to reduce its outstanding borrowings. At the upper end of the price band, the company is expected to command a post-issue market valuation of approximately ₹17,298 crore.
Blackstone is currently the largest shareholder in the company, holding nearly 89 per cent of its equity, according to the Red Herring Prospectus.
The company operates in the industrial and logistics infrastructure segment, developing, owning and managing properties across major markets. Its portfolio spans approximately 60 million square feet spread across 46 assets in 10 cities.
Under the issue structure, Qualified Institutional Buyers will receive 75 per cent of the shares offered. Non-Institutional Investors have been allocated 15 per cent, while retail investors will have access to the remaining 10 per cent.
Following the IPO, Horizon Industrial Parks’ equity shares are proposed to be listed on both the BSE and NSE on August 24.
Axis Capital, JM Financial, IIFL Capital Services, SBI Capital Markets and 360 ONE WAM are acting as the book-running lead managers for the offering. KFin Technologies has been appointed as the registrar to the issue.
