Blackstone-owned Horizon Industrial Parks has filed its draft red herring prospectus (DRHP) with markets regulator Sebi to raise Rs 4,250 crore through an initial public offering (IPO). The fundraise includes raising ₹1,650 crore through a pre-IPO placement and a primary issue of ₹2,600 crore.
The company has already raised nearly $200 million (Rs 1,800 crore) in a pre-IPO round prior to filing the DRHP, with participation from investors including 360 ONE, SBI Life Insurance, SBI, Radhakishan Damani, EAAA and DSP Investments, among others.
Horizon Industrial Parks’ portfolio
Horizon Industrial Parks has built a portfolio of nearly 60 million square feet, of which around 27 million sq ft is completed, spread across 46 assets in 10 cities. It has in-city presence, with 17 assets across 7 cities, providing last-mile access to over 20 million end-consumers.
Growth over the years
Blackstone made its first acquisition in the segment in 2020 and achieved the scale within 5 years. Horizon’s portfolio has around 95% committed occupancy and a customer base of over 100 clients, of which nearly 60% are Fortune 500 companies.
JM Financial, Axis Capital, IIFL Capital Services, SBI Capital Markets and 360 ONE WAM are the book running lead managers to the issue.