Horizon Industrial Parks IPO 2026: Rs57–Rs60 Price, GMP & Dates

The Horizon Industrial Parks IPO is scheduled to open for subscription on August 17, 2026, and will close on August 19, 2026. The IPO is a book-built issue of ₹2,600 crore, comprising entirely of a fresh issue of ₹2,600 crore, with no Offer for Sale (OFS).

Horizon Industrial Parks has fixed the IPO price band at ₹57 to ₹60 per share. The minimum lot size is 250 shares, requiring a minimum investment of ₹15,000 for retail investors at the upper price band.

The company operates in the industrial and logistics infrastructure sector and develops, owns and operates large-scale warehouses, industrial facilities and in-city logistics centres across major Indian cities.

The Horizon Industrial Parks IPO is proposed to be listed on both BSE and NSE, with the tentative listing date scheduled for August 24, 2026.
In this article, we'll cover the Horizon Industrial Parks IPO details, GMP, subscription status, financial performance, business model, strengths, risks, and whether investors should consider applying.

Horizon Industrial Parks IPO Details

Horizon Industrial Parks IPO Timeline

Horizon Industrial Parks Financial Performance

Horizon Industrial Parks has reported strong growth in total income and EBITDA over the last three financial years, although the company has reported losses during the period.

The company's total income increased from ₹439.35 crore in FY2025 to ₹767.84 crore in FY2026, representing strong year-on-year growth.

EBITDA also increased significantly from ₹339.12 crore to ₹607.80 crore during the same period.

However, Horizon Industrial Parks continued to report a net loss, with PAT standing at -₹203.65 crore in FY2026 compared with a loss of ₹178.78 crore in FY2025.

Total borrowings declined marginally from ₹7,009.11 crore in FY2025 to ₹6,884.34 crore in FY2026.

Key Financial Ratios

The company reported a strong EBITDA margin of 79.16%, reflecting the high operating profitability of its industrial and logistics infrastructure business.

However, the negative RoNW of -4.23% reflects the company's reported net losses.

Investors should therefore assess the company's growth, asset base, rental income potential, debt levels and ability to achieve sustainable profitability before investing.

Horizon Industrial Parks IPO GMP

As of August 12, 2026, the Horizon Industrial Parks IPO GMP is reported at ₹0.
 

Based on the current GMP of ₹0 and the upper IPO price band of ₹60, the estimated listing price is around ₹60 per share, indicating a potential listing gain of 0%.

The GMP history is currently limited, and the grey market premium may change significantly before the IPO listing.

The GMP is an unofficial market indicator and should not be considered a guaranteed indication of the actual listing price or future stock performance.

Horizon Industrial Parks IPO Subscription Status

The Horizon Industrial Parks IPO will open for subscription from August 17 to August 19, 2026.

The live subscription figures will be updated once bidding begins.

Investors can bid within the price band of ₹57–₹60 per share. The IPO has a total issue size of ₹2,600 crore, consisting entirely of a fresh issue.

Horizon Industrial Parks IPO Day-wise Subscription Trend

What is current subscription data for Horizon Industrial Parks?

The current subscription data for Horizon Industrial Parks will be updated based on the total number of shares offered compared with the total shares bid in each investor category.

Live bidding data will become available once the IPO opens on August 17, 2026.

Investors should monitor subscription figures from the BSE and NSE during the IPO period to track demand from QIB, NII and retail investors.

What is Horizon Industrial Parks Ltd.?

Incorporated in 2009, Horizon Industrial Parks Limited is an industrial and logistics infrastructure developer, owner and operator backed by the Blackstone Group.

According to the company information, Horizon Industrial Parks is India's largest industrial and logistics infrastructure platform by total network, based on a JLL report.

As of the DRHP date, the company owned 45 logistics and industrial assets across 10 major Indian cities, covering approximately 58.01 million square feet (msf).

The company's portfolio includes modern warehouses, industrial facilities and in-city logistics centres serving customers across sectors such as e-commerce, retail, FMCG, manufacturing, renewable energy and automotive.

As of November 30, 2025, fulfillment centres accounted for approximately 15.55 msf or 58% of the company's operational area, while industrial facilities accounted for around 10.36 msf or 39%.

The company also has an in-city centres pipeline of approximately 6.31 msf across seven cities, focused on last-mile delivery and urban logistics requirements.

Horizon Industrial Parks serves more than 100 customers across various industries and offers integrated solutions covering development, leasing, asset management and other infrastructure-related services.

Objects of the Horizon Industrial Parks IPO

The company plans to utilise the net proceeds from the IPO primarily towards the repayment and/or prepayment of certain borrowings availed by the company and its wholly owned subsidiaries.

A significant portion of the IPO proceeds will therefore be used to reduce the company's outstanding debt.
Debt reduction could help improve the company's balance sheet and reduce interest-related financial obligations over time.

Competitive Strengths

Large-scale industrial and logistics infrastructure platform.

Horizon Industrial Parks has a large portfolio of logistics and industrial assets across major Indian cities, giving it significant scale in the sector.

Strategically located assets.

The company's assets are located across key Indian markets, including locations supporting manufacturing, warehousing, e-commerce and last-mile delivery requirements.

Strong industry tailwinds.

The company is positioned to benefit from India's growth in manufacturing, consumption, e-commerce, organised retail and logistics infrastructure.

Strong customer relationships.

Horizon Industrial Parks serves more than 100 customers across sectors such as e-commerce, FMCG, retail, renewable energy, automotive and manufacturing.

Integrated business platform.

The company provides an integrated platform covering development, ownership, leasing and management of industrial and logistics infrastructure.

Proven engineering and technical capabilities.

The company has experience in developing complex industrial and logistics projects and managing large-scale infrastructure assets.

Strong development and acquisition capabilities.

Horizon Industrial Parks has experience in asset development and acquisitions, including joint ventures and government partnerships.

Focus on sustainability.

The company follows sustainability practices and aims to maintain high sustainability standards across its infrastructure portfolio.

Risks Investors Should Consider

Continued net losses.

Horizon Industrial Parks reported a net loss of ₹203.65 crore in FY2026, following losses of ₹178.78 crore and ₹162.21 crore in FY2025 and FY2024 respectively.

High borrowings.

The company had total borrowings of ₹6,884.34 crore as of March 31, 2026. A significant portion of the IPO proceeds is intended to repay or prepay borrowings.

Negative RoNW.

The company's RoNW stood at -4.23% in FY2026, reflecting its negative profitability.

Capital-intensive business.

Industrial and logistics infrastructure requires significant capital investment for development, acquisition and maintenance of assets.

Dependence on industrial and logistics demand.

The company's performance is linked to demand for warehouses, industrial facilities, manufacturing infrastructure and logistics space.

Economic and market risks.

Slowdowns in manufacturing, e-commerce, consumption or industrial activity could affect demand for the company's assets.

Real estate and regulatory risks.

Changes in regulations, interest rates, land availability and other real estate-related factors may affect the company's operations and financial performance.

Should You Invest in Horizon Industrial Parks IPO?

Horizon Industrial Parks operates one of India's large industrial and logistics infrastructure platforms, with 45 assets across 10 major cities and approximately 58.01 million square feet of assets as of the DRHP date.

The company's key strengths include its large asset base, strategically located facilities, strong customer relationships, integrated platform and exposure to India's manufacturing, e-commerce and logistics growth.

However, investors should also consider the company's continued net losses, high borrowings and negative RoNW.

The company reported total income growth from ₹439.35 crore in FY2025 to ₹767.84 crore in FY2026, while EBITDA increased from ₹339.12 crore to ₹607.80 crore. However, PAT remained negative at ₹203.65 crore.

The current GMP of ₹0 indicates neutral listing expectations in the grey market. However, GMP is unofficial and can change before listing.

Investors should evaluate the company's debt levels, asset portfolio, financial performance, valuation, future growth prospects and IPO subscription response before deciding whether to apply.

Looking to Invest in Horizon Industrial Parks Before Its IPO?

If you want to buy Horizon Industrial Parks unlisted shares before the IPO, you can check the latest unlisted share price, valuation, availability and investment process on UnlistedKraft's dedicated page once the shares become available.

Summary

Horizon Industrial Parks IPO is a ₹2,600 crore Mainboard Book Build Issue comprising entirely of a fresh issue of ₹2,600 crore.
The company has fixed the IPO price band at ₹57–₹60 per share, with a lot size of 250 shares. Retail investors need a minimum investment of ₹15,000 at the upper price band.

Horizon Industrial Parks is an industrial and logistics infrastructure developer, owner and operator backed by Blackstone. The company owns 45 logistics and industrial assets across 10 major Indian cities, covering approximately 58.01 million square feet.

The company's total income increased significantly to ₹767.84 crore in FY2026, while EBITDA rose to ₹607.80 crore. However, the company continued to report a net loss of ₹203.65 crore and had total borrowings of ₹6,884.34 crore.

A major portion of the IPO proceeds will be used for repayment or prepayment of borrowings.

The current GMP of ₹0 indicates no premium over the upper IPO price band as of August 12, 2026. Investors should monitor GMP, subscription status, valuation, debt levels and the company's financial performance before making an investment decision.

Frequently Asked Questions (FAQs)

What is the Horizon Industrial Parks IPO?

Horizon Industrial Parks IPO is a Mainboard Book Build Issue worth ₹2,600 crore, comprising entirely of a fresh issue of equity shares.

What are the Horizon Industrial Parks IPO dates?

The IPO will open for subscription on August 17, 2026, and close on August 19, 2026.

What is the Horizon Industrial Parks IPO price band?

The company has fixed the price band at ₹57 to ₹60 per share.

What is the lot size of Horizon Industrial Parks IPO?

The minimum application size is 250 shares, requiring an investment of ₹15,000 at the upper price band.

What is the Horizon Industrial Parks IPO GMP today?

As of August 12, 2026, the Horizon Industrial Parks IPO GMP is ₹0. GMP is unofficial and may change before listing.

When will Horizon Industrial Parks IPO allotment take place?

The tentative allotment date is August 20, 2026.

When is Horizon Industrial Parks IPO listing?

The shares are expected to list on August 24, 2026, on both BSE and NSE.

Who is the registrar of Horizon Industrial Parks IPO?

KFin Technologies Ltd. is the registrar of the Horizon Industrial Parks IPO.

Who are the lead managers of Horizon Industrial Parks IPO?

JM Financial Ltd., SBI Capital Markets Ltd., IIFL Capital Services Ltd., Axis Capital Ltd. and 360 ONE WAM Ltd. are the book-running lead managers of the IPO.

What does Horizon Industrial Parks Limited do?

Horizon Industrial Parks is engaged in developing, owning and operating industrial and logistics infrastructure, including warehouses, industrial facilities and in-city logistics centres.

What is the Horizon Industrial Parks IPO issue size?

The total Horizon Industrial Parks IPO issue size is ₹2,600 crore.

How much is the fresh issue in Horizon Industrial Parks IPO?

The entire IPO consists of a fresh issue of ₹2,600 crore.

What will Horizon Industrial Parks use the IPO proceeds for?

The company plans to use approximately ₹2,250 crore towards repayment or prepayment of certain borrowings, with the remaining proceeds intended for general corporate purposes.

Is Horizon Industrial Parks IPO worth applying for?

Investors should evaluate the company's asset portfolio, financial performance, debt levels, valuation, future growth prospects and subscription demand before applying. While the company has strong scale and industry exposure, it reported a net loss of ₹203.65 crore in FY2026 and had substantial borrowings.

Sources

• Horizon Industrial Parks DRHP/RHP
• KFin Technologies Ltd.
• InvestKraft

Disclaimer

This article is intended for informational and educational purposes only and should not be considered financial or investment advice. IPO details, Grey Market Premium (GMP), subscription figures and listing timelines are subject to change. Investors should carefully read the Red Herring Prospectus (RHP), verify the latest updates from official sources and consult a qualified financial advisor before making any investment decisions. Investments in the stock market are subject to market risks.

Author: Komal Bhatt

Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.

She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.

Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.