Horizon Industrial Parks Files Rs 2,600 Crore IPO Papers with Sebi to Expand Logistics Operations

Horizon Industrial Parks, supported by Blackstone, has submitted initial documents to Sebi for an IPO to raise Rs 2,600 crore. This offering consists solely of new equity shares, with no offer for sale component. The draft red herring prospectus indicates that approximately Rs 2,250 crore will be allocated to debt repayment. Blackstone currently owns 89% of the company.

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Prior to this public offering, Horizon secured nearly USD 200 million (around Rs 1,650 crore) in a pre-IPO round. Investors included 360 ONE, SBI Life Insurance, SBI, Radhakishan Damani, EAAA, and DSP Investments. With the pre-IPO funds included, Horizon aims to raise a total of about Rs 4,250 crore (USD 500 million).

Industrial and Logistics Infrastructure Developer

Horizon Industrial Parks specialises in developing and managing industrial and logistics infrastructure across India. Their portfolio spans approximately 60 million square feet over 46 assets in ten cities. Blackstone's involvement began in 2020, and the platform has grown significantly over the past five years.

The company's operations cover fulfilment centres, industrial facilities, and urban logistics assets. Their portfolio is about 95% committed with over 100 clients. Nearly 60% of these clients are Fortune 500 companies.

Merchant Bankers and Stakeholders

JM Financial, IIFL Capital Services, SBI Capital Markets, and 360 ONE WAM are serving as merchant bankers for this issue. The strategic growth of Horizon Industrial Parks reflects Blackstone's investment strategy since its initial acquisition in the platform.

The IPO is a significant step for Horizon Industrial Parks as it seeks to expand its financial base and reduce debt. The company's extensive portfolio and high client commitment underscore its strong market position within India's industrial and logistics sectors.

This move aligns with Horizon's long-term strategy to enhance its operational capabilities and financial health. By leveraging the IPO proceeds primarily for debt repayment, the company aims to strengthen its balance sheet and support future growth initiatives.

With inputs from PTI