Blackstone-backed Horizon Industrial Parks files DRHP for ₹2,600-cr IPO

Horizon Industrial Parks raised $200 million in the pre-IPO funding round from 360 ONE, SBI Life Insurance, State Bank of India, Radhakishan Damani, EAAA, DSP Investments, among others

Global asset manager Blackstone-backed Indian warehousing platform Horizon Industrial Parks has filed its draft red herring prospectus (DRHP) with the capital markets regulator Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO). 

 

The company plans to raise ₹2,600 crore through a fresh issuance. There is no offer for sale (OFS) component. 

 

Ahead of filing, the company raised $200 million in the pre-IPO funding round from 360 ONE, SBI Life Insurance, State Bank of India, Radhakishan Damani, EAAA, DSP Investments, among others.

 

According to the DRHP, the company plans to use ₹2,250 crore from the net fresh issue proceeds for repayment or prepayment of certain borrowings availed by the company and its subsidiaries. The remaining funds will be used for general corporate purposes. 

 

 

Kfin Technologies is the registrar for the issue. JM Financial, Axis Capital, IIFL Capital Services, SBI Capital Markets, and 360 ONE WAM are the book-running lead managers. 

About Horizon Industrial Parks

Horizon Industrial Parks is India's largest industrial and logistics infrastructure developer, owner, and operator in terms of Total Network, according to the JLL Report. The company's pan-India Total Network consists of 45 assets spread across 10 cities, totalling 58.01 million square feet (msf). 

 

Horizon offers  Grade A quality fulfilment centres, industrial facilities, and in-city centres across the country’s major industrial and consumption hubs. Its solutions include, among others, built-to-suit facilities, fully fitted plug-and-play facilities, cold storage, energy solutions, on-site staff accommodation, racking and material handling equipment (MHEs), all designed to support efficient operations. It caters to key sectors including e-commerce, retail, fast-moving consumer goods (FMCG), renewable energy, auto-ancillary and manufacturing.

Horizon Industrial Parks financial overview

For the three-month period ended June 30, 2025, Horizon Industrial Parks reported a revenue from operations of ₹162.94 crore and a net loss of ₹597.12 crore. In the fiscal 2025 (FY25), the company posted revenue from operations of ₹608.20 crore, up 34.27 per cent from ₹452.97 crore in the previous fiscal. The company's earnings before interest, tax, depreciation, and amortisation (Ebitda) increased to ₹501.7 crore compared to ₹326 crore in FY24. Its net loss narrowed to ₹233.0 crore against ₹254.54 crore in the previous fiscal.