Horizon Industrial Parks Files for Rs 2,600 Cr IPO to Cut Debt

• Blackstone-promoted Horizon Industrial Parks filed DRHP for a Rs 2,600 crore IPO, entirely a fresh issue, aimed at debt reduction.
• The company may consider a Rs 520 crore pre-IPO placement and previously raised $200 million in pre-IPO funding from SBI group, Radhakishan Damani, and Hemendra Kothari.
• Blackstone holds an 88.74% stake; Horizon operates 45 assets and plans to expand to 46 assets with 60.56 msf across India.
• Rs 2,250 crore from the IPO proceeds will be used for debt repayment, with the rest for general corporate purposes.
• Horizon narrowed losses to Rs 131 crore in FY25, while revenue surged 54% to Rs 359.3 crore.

Why It Matters: Horizon Industrial Parks seeks Rs 2,600 Cr IPO to reduce debt and fuel expansion.