Horizon Industrial Parks IPO GMP today is Rs 2. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
Mainboard IPO
HORIZON
Horizon Industrial Parks IPO GMP, Subscription & Allotment Status Today
Horizon Industrial Parks Limited is primarily engaged in the business of developing, operating, and maintaining industrial and warehousing parks across India. The company develops Grade A+ specification facilities located in major industrial and consumption hubs, enabling customers to reduce upfront capital expenditure and accelerate their time-to-market. Its offerings include providing customer-specific enhancements such as cold storage, compressed air systems, and high-capacity electrical infrastructure. A key area of focus is in-city logistics, where it operates a large network of strategically located centers that support last-mile delivery, dark stores, and light industrial operations. The company positions itself as a pure-play platform offering comprehensive solutions to its customers by combining real estate, infrastructure, and operational services under one roof.
- Price Band
- ₹57.00 - ₹60.00
- Lot Size
- 250 Shares
- Bidding Closes
- 19 Aug 2026
- Listing Date
- 24 Aug 2026
Current GMP Status
₹2
+3.33% vs upper band
Est. Listing Gain
+151.67%
Last Trend
20 Aug 2026
Listing Price
₹151.00
Retail Entry
₹15,000
IPO Details
Complete IPO information
| Current GMP | ₹2 |
|---|---|
| Estimated Listing Gain | +151.67% |
| Price Band | ₹57.00 - ₹60.00 |
| Issue Price | Approx ₹60.00 Crores |
| Listing Price | ₹151.00 |
| Lot Size | 250 Shares |
| Issue Type | Mainboard |
| Registrar | TBA |
| Exchange | NSE, BSE |
| Retail Quota | TBA |
| Overall Subscription | 1.45x |
| Listing Date | 24 Aug 2026 |
| Minimum Investment | ₹15,000 |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 1365.79 | 2521.66 | 1.85x |
| NII | 682.89 | 666.05 | 0.98x |
| Retail | 455.26 | 436.62 | 0.96x |
| Overall Subscription | 2513.56 | 3637.98 | 1.45x |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Horizon Industrial Parks is priced at ₹60 per share. With a minimum lot size of 250 shares, a retail investor applying for one lot would need approximately ₹15,000 to participate in this Mainboard issue.
The latest recorded Grey Market Premium for Horizon Industrial Parks stands at ₹2, implying an estimated listing gain of around 3.33% over the issue price if it holds until listing. This is down ₹1 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Horizon Industrial Parks's IPO was subscribed 1.45x overall, with a category-wise breakdown of Retail 0.96x, QIB 1.85x, NII 0.98x.
Among the strengths highlighted in Horizon Industrial Parks's IPO documents: Market leader with a large, strategically located network of industrial and logistics parks.; Operates a pure-play, integrated platform combining real estate, infrastructure, and services..
Investors should also weigh the risk factors Horizon Industrial Parks has disclosed, including: A significant portion of the network is under development and subject to construction and cost overrun risks..
Mainboard IPOs list on the main platform of BSE/NSE, typically involve larger issue sizes, and draw participation across retail, HNI and institutional (QIB) investor categories.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
17 Aug 2026
✓
Bidding Closes
19 Aug 2026
✓
Allotment
20 Aug 2026
✓
Listing
24 Aug 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 20 Aug 2026 | ₹1.00 | -₹1.00 | 1.67% |
| 19 Aug 2026 | ₹2.00 | +₹0.30 | 3.33% |
| 18 Aug 2026 | ₹1.70 | - | 2.83% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 250 | ₹15,000 |
| Retail Maximum | 13 Lot | 3,250 | ₹1,95,000 |
| S-HNI Minimum | 14 Lot | 3,500 | ₹2,10,000 |
| S-HNI Maximum | 66 Lot | 16,500 | ₹9,90,000 |
| B-HNI Minimum | 67 Lot | 16,750 | ₹10,05,000 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Issue Notes
Important takeaways before applying
Strengths
- Market leader with a large, strategically located network of industrial and logistics parks.
- Operates a pure-play, integrated platform combining real estate, infrastructure, and services.
- Maintains an unrivalled network of in-city centers for last-mile delivery.
- Possesses proven engineering and technical capabilities for complex industrial projects.
- Backed by an experienced promoter with extensive industry and execution expertise.
Risks
- A significant portion of the network is under development and subject to construction and cost overrun risks.
- Substantial indebtedness requires significant cash flow to service, limiting operational flexibility.
- The business is capital-intensive and may be unable to secure timely funding for future growth.
- Operations are subject to a broad range of government regulations, including environmental and labor laws.
- Contingent liabilities and legal proceedings related to taxes, land titles, and other claims could have an adverse effect.
Analysis
Horizon Industrial Parks IPO Details
The Horizon Industrial Parks IPO is a Book Building Issue with a total issue size of approximately ₹2,600 crores. As per the provided issue structure, the IPO consists entirely of a fresh issue worth approximately ₹2,600 crores.
The IPO is scheduled to open for subscription on August 17, 2026 and close on August 19, 2026. Horizon Industrial Parks has set the IPO price band at ₹57 to ₹60 per equity share, while the face value is ₹10 per share. The company's equity shares are proposed to be listed on both the BSE and NSE.
| Particular | Details |
|---|---|
| IPO Open Date | August 17, 2026 |
| IPO Close Date | August 19, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹57 to ₹60 Per Share |
| Issue Size | Approx ₹2,600 Crores |
| Fresh Issue | Approx ₹2,600 Crores |
| Issue Type | Book Building Issue |
| IPO Listing | BSE, NSE |
Note: The above table summarizes the key Horizon Industrial Parks IPO details, including the issue dates, price band, issue size and proposed stock exchange listing. Investors should also evaluate the company's financial performance, objects of the issue, valuation, promoter holding and business risks before making an investment decision.
Analysis
Horizon Industrial Parks IPO Reservation
The Horizon Industrial Parks IPO has a category-wise reservation structure for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), Retail Individual Investors (RIIs), and Anchor Investors. The allocation determines the proportion of the net offer available to different investor categories.
As per the proposed reservation structure, 75% of the offer is allocated to Qualified Institutional Buyers, excluding the anchor investor portion. Non-Institutional Investors have a reservation of 15%, while 10% of the offer is reserved for Retail Individual Investors.
| Investor Category | Shares Offered | Reservation (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| Qualified Institutional Buyers (QIB) (Ex. Anchor) | – Shares | 75% |
| Non-Institutional Investors (NII) | – Shares | 15% |
| Retail Individual Investors (RII) | – Shares | 10% |
Note: The exact number of shares reserved for each investor category can be updated once the final issue and anchor allocation details are available. The final allotment will depend on subscription levels and the basis of allotment finalized after the IPO closes.
Analysis
Horizon Industrial Parks IPO Anchor Investors
The Horizon Industrial Parks IPO anchor investor bidding is scheduled for August 14, 2026, ahead of the public issue opening on August 17. The final anchor investor list, number of equity shares allocated and total anchor investment amount will be available after completion of the anchor bidding process.
The anchor allocation is subject to applicable lock-in requirements. As per the provided structure, 50% of the anchor shares will have a 30-day lock-in period, while the remaining 50% will have a 90-day lock-in period.
| Particular | Details |
|---|---|
| Anchor Bidding Date | August 14, 2026 |
| Anchor Investors List | To be Updated |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date – 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date – Remaining 50% Shares (90 Days) | 2026 |
Note: The anchor investor list, shares allocated, anchor size and exact 30-day and 90-day lock-in expiry dates will be updated once the final anchor allocation details are announced.
Analysis
Horizon Industrial Parks IPO Dates
The Horizon Industrial Parks IPO is scheduled to open for subscription on August 17, 2026 and close on August 19, 2026. Investors can submit their IPO applications during this three-day subscription period.
After the IPO closes, the basis of allotment is expected to be finalized on August 20, 2026. Refunds for unsuccessful applicants are scheduled to be initiated on August 21, 2026, while successful applicants are expected to receive shares in their demat accounts on the same day. The Horizon Industrial Parks IPO listing date is August 24, 2026.
| IPO Event | Date |
|---|---|
| IPO Open Date | August 17, 2026 |
| IPO Close Date | August 19, 2026 |
| Basis of Allotment | August 20, 2026 |
| Refunds | August 21, 2026 |
| Credit to Demat Account | August 21, 2026 |
| IPO Listing Date | August 24, 2026 |
Note: The above table provides the proposed Horizon Industrial Parks IPO timeline from opening through listing. The schedule may be revised if any changes are announced by the company, registrar or stock exchanges.
Analysis
Horizon Industrial Parks IPO Promoters and Holding Pattern
The promoters of Horizon Industrial Parks are BREP Asia II EIP Holding (NQ) Pte. Ltd., BREP Asia II Indian Holdings Co. VI (NQ) Pte. Ltd. and BREP Asia III India Holdings Co. III Pte. Ltd.
Prior to the IPO, the promoter and promoter group collectively hold 88.74% of the company's equity share capital, while other shareholders hold 11.26%. Following completion of the IPO, the promoter group's holding is expected to decline to approximately 75.40%, while the holding of other shareholders is expected to increase to 24.60%.
Promoters of Horizon Industrial Parks
- 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.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 2,173,652,861 | 88.74% | – | 75.40% |
| Others* | 275,873,599 | 11.26% | – | 24.60% |
| Total | 2,44,95,26,460 | 100% | 2,88,29,35,550 | 100% |
Note: The above table summarizes the pre-IPO and post-IPO holding pattern of Horizon Industrial Parks based on the provided shareholding information. The promoter group's ownership is expected to dilute from 88.74% before the issue to approximately 75.40% after the IPO.
Analysis
Horizon Industrial Parks IPO Objects of the Issue & Utilisation of Proceeds
Horizon Industrial Parks proposes to utilise a major portion of the IPO proceeds towards the repayment and/or prepayment of certain outstanding borrowings availed by the company and certain of its wholly owned subsidiaries.
Approximately ₹2,250 crores of the proceeds are proposed to be deployed towards reducing borrowings. The repayment or prepayment covers debt availed by Horizon Industrial Parks as well as certain wholly owned subsidiaries involved in the company's industrial and logistics parks portfolio. The remaining eligible proceeds may be utilised towards general corporate purposes.
| Purpose | Amount |
|---|---|
| Repayment and/or prepayment, in part or full, of certain borrowings availed by the Company and certain wholly owned subsidiaries of the Company, including Bagur Logistics Park Private Limited, Embassy Industrial Park Hosur Private Limited, Farukhnagar Logistics Parks LLP, FRK II Industrial Park Private Limited, Goodluck Buildtech Private Limited, ILV Distripark Private Limited, ILV Distripark (MWC) Private Limited, Jindpur Industrial Park Private Limited, Kalina Warehousing Private Limited, Lakshmi and other applicable wholly owned subsidiaries. | ₹2,250.00 Crores |
| General Corporate Purpose | ₹- |
Note: A substantial portion of the Horizon Industrial Parks IPO proceeds is proposed to be used for debt repayment or prepayment. Reduction in outstanding borrowings may lower finance costs and strengthen the company's capital structure. The subsidiary list above follows the information provided and appears truncated after “Lakshmi”.
Analysis
Horizon Industrial Parks About IPO
Horizon Industrial Parks, founded in 2009, is India’s leading industrial and logistics infrastructure developer, owning 45 logistics and industrial assets across 10 major Indian cities. The firm develops and leases large, modern warehouses businesses can use for manufacturing, warehousing, storage, and distribution.
Horizon Industrial Parks operates fulfillment centers for warehousing, industrial facilities for manufacturing, and in-city centers for last-mile delivery, serving sectors such as e-commerce, FMCG, EVs, electronics, retail, pharma, and logistics. As of now, the firm has the largest Grade A industrial and warehouse property portfolios in India, which include 45 parks across 10 key markets, covering 2,200+ acres. Moreover, the firm is also planning to obtain another 100 acres in the Bengaluru region.
Analysis
Horizon Industrial Parks IPO Company Financial Report
Horizon Industrial Parks recorded consistent revenue growth during FY2024 to FY2026. Revenue increased from ₹245.52 crores in FY2024 to ₹439.35 crores in FY2025 and further rose to ₹767.84 crores in FY2026, indicating a significant expansion in the company's operating scale.
Profit After Tax (PAT) also increased during the period, moving from ₹162.21 crores in FY2024 to ₹178.78 crores in FY2025 and reaching ₹203.65 crores in FY2026. The company's asset base expanded substantially, rising from ₹4,993.18 crores in FY2024 to ₹13,495.13 crores in FY2026.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹245.52 Cr. | ₹403.01 Cr. | ₹162.21 Cr. | ₹4,993.18 Cr. |
| 2025 | ₹439.35 Cr. | ₹596.41 Cr. | ₹178.78 Cr. | ₹9,851.54 Cr. |
| 2026 | ₹767.84 Cr. | ₹965.14 Cr. | ₹203.65 Cr. | ₹13,495.13 Cr. |
Amount in ₹ Crores: The above table summarizes Horizon Industrial Parks' revenue, expenses, Profit After Tax (PAT) and total assets from FY2024 to FY2026. Investors should assess the company's strong revenue and asset growth together with profitability, borrowings, finance costs, cash flows and IPO valuation while evaluating the issue.
Analysis
Horizon Industrial Parks IPO Valuation – FY2026
The Horizon Industrial Parks IPO valuation can be assessed using key financial indicators such as Earnings Per Share (EPS), EBITDA Margin, Return on Net Worth (RoNW), Net Asset Value (NAV), Return on Equity (ROE), Return on Capital Employed (ROCE) and the debt-to-equity ratio.
For FY2026, Horizon Industrial Parks reported an EBITDA margin of 79.07%. The basic EPS stood at ₹(0.95), indicating negative earnings on the EPS basis provided, while Return on Net Worth was (4.09%). The company's Net Asset Value stood at ₹23.29 per share. The P/E ratio is shown as N/A because the provided EPS is negative.
| KPI | Values |
|---|---|
| ROE | [.]% |
| ROCE | [.]% |
| EBITDA Margin | 79.07% |
| PAT Margin | [.]% |
| Debt to Equity Ratio | [.] |
| Earning Per Share (EPS) | ₹(0.95) (Basic) |
| Price / Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | (4.09%) |
| Net Asset Value (NAV) | ₹23.29 |
Note: ROE, ROCE, PAT Margin and Debt-to-Equity Ratio are currently shown as unavailable based on the provided data. Investors should compare the IPO price band with NAV, earnings performance, debt levels, cash flows, asset portfolio and peer valuations while evaluating the Horizon Industrial Parks IPO.
Analysis
Peer Group Comparison
- There are no listed peer companies.
Analysis
IPO Lead Managers aka Merchant Bankers
- JM Financial Ltd.
- Axis Capital Ltd.
- IIFL Capital Services Ltd.
- SBI Capital Markets Ltd.
- 360 One WAM Ltd.
FAQ
Horizon Industrial Parks IPO FAQs
Horizon Industrial Parks IPO price band is Rs 57.00 to Rs 60.00. Check the latest issue price, lot size and GMP together before applying.
Horizon Industrial Parks IPO open date is 17 Aug 2026, close date is 19 Aug 2026, and listing date is 24 Aug 2026.
Horizon Industrial Parks IPO lot size is 250 shares. The minimum retail investment is Rs 15,000.
Horizon Industrial Parks is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
Horizon Industrial Parks IPO subscription status currently shows Retail 0.96x, QIB 1.85x, NII 0.98x, Overall 1.45x.
Horizon Industrial Parks Limited is primarily engaged in the business of developing, operating, and maintaining industrial and warehousing parks across India. The company develops Grade A+ specification facilities located in major industrial and consumption hubs, enabling customers to reduce upfront capital expenditure and accelerate their time-to-market. Its offerings include providing customer-specific enhancements such as cold storage, compressed air systems, and high-capacity electrical infrastructure. A key area of focus is in-city logistics, where it operates a large network of strategically located centers that support last-mile delivery, dark stores, and light industrial operations. The company positions itself as a pure-play platform offering comprehensive solutions to its customers by combining real estate, infrastructure, and operational services under one roof.
Horizon Industrial Parks IPO issue size is 2600 and the expected allotment date is 20 Aug 2026.
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