Blackstone backed Horizon Industrial Parks lists with muted market debut
Business
Horizon Industrial Parks, backed by Blackstone, just hit the stock market.
Shares opened at ₹60.25 on NSE and ₹59.65 on BSE, so not much excitement, with the NSE listing slightly above the IPO price band of ₹57-₹60 per share while the BSE debut was slightly below it.
The IPO wrapped up with a decent 1.45 times oversubscription, mostly thanks to big institutional investors.
Horizon Industrial Parks to repay debt
Horizon plans to use most of its ₹2,600 crore IPO funds to pay off debt: about ₹2,250 crore will go toward clearing what's owed (which was total borrowings of ₹6,884.34 crore as of March 31, 2026, on a restated basis).
The company isn't small: it runs India's largest industrial and logistics network with 46 properties across 10 cities and a solid occupancy rate over 93%.