Liquidity Events
Logistics infra co. Horizon Industrial Parks’ Rs.2,600-Cr IPO closes with 1.45x subscription
The initial public offering (IPO) of Mumbai-based Horizon Industrial Parks closed with an overall subscription of 1.45 times the total shares on offer. The company sought to raise INR 2,600 crore at the upper price band of INR 60 per share. SBI Securities acted as the advisor to the transaction.The qualified institutional buyers subscribed 1.85 times their allotted quota, while the employee reserved portion was subscribed 1.42 times. The retail individual investor and non-institutional investor segments recorded 0.96 times and 0.98 times subscription, respectively.Horizon Industrial Parks is an industrial and logistics infrastructure developer with a portfolio of 45 assets spanning 58.58 million square feet across 10 cities. The firm plans to use INR 2,250 crore of the IPO proceeds to repay debt, aiming to reduce interest costs and achieve a profit after tax break-even by FY27.
Between Jan 2022 and Mar 2026, Horizon Industrial Parks had attracted about $ 56 M from Blackstone.
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