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Horizon Industrial Parks IPO
Price Band
₹57.0–60.0
Issue Size
₹2600.04 Cr
Lot Size
250 shares
Min Investment
₹15,000
GMP
+₹1.5 (2.5%)
Issue Price
₹60.0
Subject to Sauda
₹300
Paid only if allotted
Horizon Industrial Parks IPO AI Summary
- Horizon Industrial Parks IPO is listed on BSE, NSE in the Real Estate related services sector.
- Price band: ₹57.0–₹60.0 per share, lot size 250 shares (min. investment ₹15,000).
- Subscription window: 17 Aug–19 Aug 2026, listing on 24 Aug 2026.
- Current GMP is +₹1.5 (2.5%), an estimated listing price of ₹62 — unofficial and can change daily.
Horizon Industrial Parks is a leading player in the industrial and logistics infrastructure sector in India, with a significant portfolio of assets and strong market positioning. Despite recent financial losses, the company is well-placed to benefit from industry growth trends.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Horizon Industrial Parks IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 19 Aug 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
1.52x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
1.94x
|
1.94x |
| NII (HNI) |
1.03x
|
1.03x |
| ↳ bNII (>₹10L) |
1.19x
|
1.19x |
| ↳ sNII (<₹10L) |
0.70x
|
0.70x |
| Retail (RII) |
1.02x
|
1.02x |
| Employee |
1.64x
|
1.64x |
| Total | 1.52x | 1.52x |
Auto-updated every 5 min · As of 19th Aug 2026 18:56
Horizon Industrial Parks IPO Grey Market Premium (GMP) Today
GMP
+₹1.5
GMP %
+2.5%
Est. Listing
₹61.5
Updated: 24 Aug 2026 06:15
GMP Trend (Last 12 Days)
About the Company
Incorporated in 2009, Horizon Industrial Parks, backed by Blackstone Group, is India’s largest industrial and logistics infrastructure developer, owner, and operator by total network, according to a JLL report. As of the DRHP date, the company owns 45 logistics and industrial assets across 10 major Indian cities, totaling 58.01 million square feet (msf). Core Offerings The company develops and leases large, modern warehouses and industrial facilities to major companies. Its core asset types include: Fulfillment Centers (Warehousing): Used by e-commerce, FMCG, retail, and logistics companies, 15.55 msf (58%) of operational area as of Nov 30, 2025. Industrial Facilities: Used for manufacturing, EVs, renewables, electronics, auto, etc, 10.36 msf (39%) of operational area as of Nov 30, 2025. In-City Centers: Located close to consumers for last-mile delivery. Used for dark stores, pharma, cloud kitchens, retail, and service. Total pipeline of 6.31 msf across 7 cities. Additionally, it also offers turnkey solutions, solar energy solutions, cold storage facilities, on-site staff accommodation, skill development centers, etc. Customers: As of Nov 30, 2025, the company has served over 100 customers across key sectors, including e-commerce, retail, fast-moving consumer goods (“FMCG”), renewable energy, auto-ancillary, and manufacturing. Our scale, technical capabilities, network of strategically located sites, and full-service offerings allow us to partner with both multinational corporations (“MNCs”). Competitive Strengths Largest player with premium-quality offerings strategically located across prime markets, including in-city locations with a fully integrated platform. Well-positioned to benefit from strong industry tailwinds; Our business is derivative of India’s manufacturing, consumption, and e-commerce tailwinds. Strong customer relationship - A testament to our ability to lease and actively manage our assets with the ability to provide a comprehensive business ecosystem to our customers, not just real estate solutions. Proven engineering and technical capabilities enabling the execution of complex industrial projects. Proven expertise in development and acquisitions, backed by a strong track record of executing joint ventures and maintaining government partnerships. Commitment to enhanced sustainability practices with high sustainability standards. Highly skilled and professional leadership team.
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 13,495.13 | 9,851.54 | 4,993.18 |
| Total Income | 767.84 | 439.35 | 245.52 |
| Profit After Tax | -203.65 | -178.78 | -162.21 |
| EBITDA | 607.80 | 339.12 | 151.51 |
| NET Worth | 4,676.16 | 122.00 | 266.95 |
| Reserves and Surplus | 3,214.54 | -530.09 | -334.75 |
| Total Borrowing | 6,884.34 | 7,009.11 | 3,688.21 |
Key Ratios
EPS
₹-0.83
NAV
₹27.89
RoNW
-4.23%
P/B Value
2.15
P/E Ratio
-72.29
Market Cap
₹17297.61 Cr
Promoters
BREP Asia II EIP Holding (NQ) Pte.Ltd., Brep ASIA II Indian Holdings Co.VI (NQ) Pte.Ltd., BREP Asia III India Holdings Co.III Pte.Ltd.
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment and/or prepayment, in part or full, of certain borrowings availed by the company and Certain wholly owned Subsidiaries of Company, namely Bagur Logistics Park Pvt.Ltd., Embassy Industrial Park Hosur Pvt.Ltd., Farukhnagar Logistics Parks LLP, FRK II Industrial Park Pvt.Ltd., Goodluck Buildtech Pvt.Ltd., ILV Distripark Pvt.Ltd., ILV Distripark (MWC) Pvt.Ltd., Jindpur Industrial Park Pvt.Ltd., Kalina Warehousing Pvt.Ltd., Lakshmi 2,250.00 2 General Corporate Purposes Total 2,250.00
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹245.52 Cr in the year ending 31 Mar 2024, rising to ₹439.35 Cr by 31 Mar 2025, and further increasing to ₹767.84 Cr by 31 Mar 2026. This shows a consistent upward trend in revenue over the three periods.
Profit Trend
The profit after tax was -₹162.21 Cr for the year ending 31 Mar 2024, improving to -₹178.78 Cr by 31 Mar 2025, and further to -₹203.65 Cr by 31 Mar 2026. Although the losses have increased, it is important to note that these figures are negative across all periods.
Grey Market Premium, Explained
The grey market premium (GMP) is an unofficial indicator of the expected listing price of an IPO. It reflects the demand for the shares in the grey market before they are officially listed on the stock exchange. A positive GMP indicates that the shares are likely to list at a higher price than the issue price, while a negative GMP suggests the opposite.
Subscription Demand
As of 19th Aug 2026, the IPO was subscribed 1.52 times overall. The institutional category (QIB) saw a subscription of 1.94 times, while the retail category was subscribed 1.02 times. The employee category had a subscription of 1.64 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's essential to consider the company's growth potential and industry position when making investment decisions.
Who May Want to Wait
Investors who are risk-averse or those who prefer companies with a stable profit history may want to avoid this IPO, especially given the company's recent negative profit figures.
IPO Timeline, Explained
The IPO opens on 17th August 2026 and closes on 19th August 2026. Allotment of shares will be done on 20th August 2026, and the shares are expected to be listed on the stock exchange on 24th August 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares of an IPO are listed on the stock exchange. However, these gains are not guaranteed and can vary significantly based on market conditions and investor sentiment on the listing day.
This evaluation is generated from Horizon Industrial Parks's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Horizon Industrial Parks IPO GMP today?
Horizon Industrial Parks IPO GMP today is +₹1.5 (2.5%), indicating an estimated listing price of ₹62. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Horizon Industrial Parks IPO?
The price band of Horizon Industrial Parks IPO is ₹57.0–₹60.0 per share.
When does Horizon Industrial Parks IPO open and close?
Horizon Industrial Parks IPO opens on 17 August 2026 and closes on 19 August 2026.
When does Horizon Industrial Parks IPO list on the stock exchange?
Horizon Industrial Parks IPO listed on 24 August 2026 at ₹61.5.
What is the lot size for Horizon Industrial Parks IPO?
The lot size for Horizon Industrial Parks IPO is 250 shares, requiring a minimum investment of ₹15,000.
What is the price band for the Horizon Industrial Parks IPO?
The price band for the Horizon Industrial Parks IPO is ₹57.0 to ₹60.0.
What is the minimum investment required for this IPO?
The minimum investment required for this IPO is ₹15,000.
What is the lot size for the Horizon Industrial Parks IPO?
The lot size for the Horizon Industrial Parks IPO is 250 shares.
When is the listing date for the IPO?
The listing date for the Horizon Industrial Parks IPO is 24th August 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on demand in the unofficial market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
17 Aug 2026
Close
19 Aug 2026
Allotment
20 Aug 2026
Listing
24 Aug 2026
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