About Horizon Industrial Parks IPO
The Horizon Industrial Parks Ltd. submitted the DRHP with SEBI on December 29, 2025, for their upcoming Horizon Industrial Parks IPO. An entirely fresh issue of shares of up to ₹2,600 crore, also a 100% book-built issue, with a face value of ₹10 each.
The price band, opening date, closing date, and listing date will be disclosed by the company later. Horizon Industrial Parks IPO is handled by professional Book Running Lead Managers (BRLMs), including JM Financial Ltd., Axis Capital Ltd., IIFL Capital Services Ltd., SBI Capital Markets Ltd., and 360 ONE WAM Ltd. The registrar of the issue is KFin Technologies Ltd.
Company Background
Horizon Industrial Parks Ltd. was incorporated in 2009 as 'JEM Cements Private Limited' in Bengaluru. The company has evolved through several identity changes, including a stint as Embassy Industrial Parks. It eventually became Horizon Industrial Parks Ltd. in 2021 and was converted into a public limited company in July 2025.
With a known headquarters based in Mumbai, Maharashtra, it has grown into a large industry brand in India’s industrial sector. The evolution of this industry company is based on strategic acquisitions of top-class properties in the top industrial hubs of India.
Operations & Product Range
Horizon Industrial Parks Ltd.’s core engagement is in developing, operating, and maintaining modern industrial and warehousing parks. They provide "ready-to-operate" infrastructure that reduces their clients' operational complexities. Their key service ranges include:
- • Core Warehousing: Grade A industrial locations for storage and logistics.
- • Managed Services: Facility maintenance, on-site staff accommodation, and investigating hospitality options (on-site hotels) for their parks.
- • Target Markets: Solutions find applications in high-growth sectors such as e-commerce, pharmaceuticals, chemicals and high-value electronics.
Facilities & Capacity
Horizon Industrial Parks Ltd. manages a wider network of 45 assets across 10 key industrial hubs in India. Total capacity developed is at different stages of growth:
- • Operational Network: 26.74 million square feet currently active.
- • Near-Term Deliveries: It is expected that shortly, about 5.81 msf will be completed.
- • Planned Projects: A sizeable pipeline of 25.46 msf.
The major operational locations include the National Capital Region, Pune, Bengaluru, Chennai and Mumbai.
Brands & Market Presence
The company operates under the brand name 'Horizon Industrial Parks.' Their footprint in the market is marked by their large-scale Grade A infrastructure. Their footprint is centered mainly around the Indian market, but their online presence caters to the international community that is looking for high-grade infrastructure in the country for their logistics needs.
Revenue Streams & Business Model
Horizon Industrial Parks Ltd. generates income through several channels:
- • Facility Rentals: The biggest contributor is from long-term tenancy of warehouses.
- • Maintenance Services: Recurring revenue from managing and maintaining the facilities.
- • Other Operating Income: Comprises fees from providing additional on-site services.
Management & Shareholding
Horizon Industrial Parks Ltd.’s promoters are BREP Asia II EIP Holding (NQ) Pte. Ltd., BREP Asia II Indian Holding Co VI (NQ) Pte. Ltd. and BREP Asia III India Holding Co III Pte. Ltd., all part of the Blackstone Group.
Before the Horizon Industrial Parks IPO, these promoters collectively held a majority stake in the company. The final post-IPO shareholding will be determined after the completion of the fresh issue.
Board & Key Management
The Board & Key management of Horizon Industrial Parks Ltd. is anchored by seasoned professionals overseeing strategic financial and governance functions. Financial strategy is led by CFO Kunal Harun Shah, who has over 16 years of experience in the industry. Governance is managed by CS Shraddha Poddar, while independent directors like Sangeeta Singh and Michael David Holland provide objective oversight.
Horizon Industrial Parks IPO Details
| Detail | Description |
|---|---|
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹ 10 per Equity Share |
| Issue Price Band | [.] |
| Lot Size | [.] |
| Sale Type | Book Built Offer |
| Total Issue Size | Up to ₹ 2,600.00 Crore |
| Fresh Issue(Ex Market Maker) | Up to ₹ 2,600.00 Crore |
| Issue Type | 100 % Book Built |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 100 % (Promoters and Group) |
| Share Holding Post Issue | [.] |
Horizon Industrial Parks IPO Financial Information
Latest Revenue
135.20
₹ Crore
Profit After Tax
-57.65
₹ Crore
Net Worth
786.81
₹ Crore
Total Borrowing
5,471.61
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 30 Jun 2025 | 7,779.32 | 135.20 | -57.65 | 786.81 | 865.80 | 5,471.61 | |||
| 31 Mar 2025 | 7,360.03 | 404.12 | -129.57 | 731.21 | 1,081.29 | 5,254.85 | |||
| 31 Mar 2024 | 4,290.27 | 249.64 | -138.97 | 293.24 | 135.82 | 3,284.08 | |||
| 31 Mar 2023 | 3,174.88 | 171.15 | -151.27 | 441.51 | 78.05 | 2,322.83 | |||
| Amount in ₹ Crore | |||||||||
Horizon Industrial Parks Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | -16.59% |
| Debt/Equity | 2.92x |
| PAT Margin | -32.06% |
| EBITDA Margin | 76.91% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | -2.26 | [.] |
| P/E (x) | [.] | [.] |
IPO Objectives
Horizon Industrial Parks Ltd. plans to use the proceeds from the fresh issue of the Horizon Industrial Parks IPO for:
- • Funding capital work in progress and planned projects across its network.
- • General Corporate Purposes.
Conclusion
The Horizon Industrial Parks IPO highlights a company that is scaling rapidly to meet India's rising demand for specialized logistics infrastructure. With its vast pipeline of planned projects exceeding 25 million sq ft, the company is committed to strengthening its position as a leader in the Grade A real estate segment. From the perspective of potential investors, the IPO serves as an opportunity to directly invest in the backbone supporting the development of the Indian supply chain/digital e-commerce.
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Competitive Strengths
Integrated Logistics Platform: This provides a whole spectrum of services, from accommodation for staff on-site to smart tagging, so that a place is virtually a "plug-and-play" option for its tenants.
Strategic Geographic Footprint: Landholdings in top tier industrial corridors facilitate access to key consumption hubs as well as industrial locations.
Strong Promoter Backing: The promoters belong to Blackstone, therefore, bringing global expertise and financial stability to the operations.
| Sr.no | Description | Date | File |
|---|---|---|---|
| 1 | Filed with SEBI/Exchange | 29/12/2025 | - |
| 2 | SEBI/Exchange approval received | - | - |
Horizon Industrial Parks IPO Timeline
| IPO Open Date | [.] |
| IPO Close Date | [.] |
| Tentative Allotment | [.] |
| Initiation of Refunds | [.] |
| Credit of Shares to Demat | [.] |
| Tentative Listing Date | [.] |
| Cut-off time for UPI mandate confirmation | - |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | [.] | ~₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | [.] | Up to ₹2,00,000 |
| S-HNI (Min) | 14-15 | [.] | Over ₹2,00,000 |
| S-HNI (Max) | 66-70 | [.] | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | [.] | Over ₹10,00,000 |