Blackstone-backed Horizon Industrial Parks to raise Rs 2,600 cr through IPO
The Economic Times·2025-12-29 13:51

Company Overview - Horizon Industrial Parks, backed by Blackstone, is India's largest industrial and logistics infrastructure developer, having filed its Draft Red Herring Prospectus (DRHP) for an equity share sale [1][9] - The company aims to raise over $300 million (Rs 2,600 crore) through its maiden equity share sale, following a pre-IPO round that raised $200 million (Rs 1,650 crore) [9] Portfolio and Operations - The company has a pan-India footprint of approximately 60 million sq ft, with around 27 million sq ft completed and 46 assets across 10 cities [2][9] - A significant part of its portfolio includes an in-city logistics network with 17 assets in seven cities, designed to meet last-mile logistics needs and provide access to over 20 million end-consumers [2][9] - The portfolio boasts a committed occupancy rate of 95% and serves over 100 companies, with around 60% being large firms [6][9] Business Model and Growth - Horizon Industrial Parks operates an integrated model that includes fulfilment centres, industrial facilities, and in-city centres, supported by an end-to-end operating ecosystem [5][9] - The growth of the company has been driven by demand from manufacturing, e-commerce, and consumption-led sectors [6][9] Leadership - Blackstone is the sole promoter of Horizon Industrial Parks, with Urvish Rambhia as CEO and Kunal Shah as CFO, both of whom have extensive experience in the industry [7][9] Market Outlook - The company's outlook is closely tied to broader economic trends, as India is the fastest-growing major economy, bolstered by manufacturing and domestic consumption [8][9] - Demand for industrial and logistics real estate is being fueled by growth in the manufacturing sector, rising consumption, and the increasing needs of e-commerce and quick commerce [8][9] - In-city centres are experiencing strong demand from quick commerce and on-demand service providers, amid limited availability of Grade A stock in urban and residential areas [8][9]