Horizon Industrial Parks' Rs 2,600 Crore IPO Opens for Bidding

The initial public offering (IPO) of Horizon Industrial Parks opened for bidding on August 17, 2026, and will close on August 19, 2026, according to a report by Economic Times Markets. The company is looking to raise Rs 2,600 crore (one crore equals Rs 10 million, putting the issue size at roughly Rs 26 billion).

Price Band and Grey Market Premium

The issue carries a price band of Rs 57–Rs 60 per share. In a book-built offering, the final issue price is set within this band based on demand gathered during the bidding window, with subscription totals across retail and institutional categories typically published at the end of each bidding day during the offer period.

In the unofficial grey market, the shares were indicating a grey market premium (GMP) of Rs 4, implying a premium of approximately 6% over the upper end of the price band. GMP reflects the level at which IPO shares trade in the unregulated secondary market ahead of listing and is not an official indicator of listing performance.

Use of Proceeds

Of the total amount raised, Horizon Industrial Parks plans to deploy Rs 2,250 crore — roughly 86.5% of the issue size — towards reducing its debt. Repaying borrowings lowers outstanding principal and, all else equal, the interest expense that accompanies it, a relevant consideration for a company that remains loss-making at the net level.

Financial Performance

In the fiscal year 2026 (FY26, the twelve months ended March 2026), the company's income rose 75% to Rs 767.84 crore, while its net loss widened to Rs 203 crore.

About the Company

Horizon Industrial Parks is a Warburg Pincus-backed developer and operator of industrial and logistics parks in India; Warburg Pincus is a global private equity firm. India's industrial and logistics park segment has expanded in recent years as demand for organized, Grade-A warehousing and industrial space has grown alongside e-commerce, third-party logistics, and manufacturing activity.