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Incorporated in 2009 and backed by global private equity sponsor Blackstone Group, Horizon Industrial Parks is India’s largest industrial and logistics real estate developer, owner, and operator by total network scale, according to a JLL report. As of the DRHP filing date, the company’s portfolio encompasses 45 industrial and logistics assets spanning 58.01 million square feet (msf) across 10 major Indian urban centers.

Diversified Asset Portfolio & Service Offerings

The platform develops and leases institutional-grade, modern logistics and manufacturing infrastructure across three core asset categories:

• Fulfillment Centers (Warehousing): Represents 15.55 msf (58% of total operational area as of November 30, 2025), serving major e-commerce, FMCG, retail, and 3PL distribution networks.
• Industrial Facilities: Accounts for 10.36 msf (39% of operational area), catering to advanced manufacturing, electric vehicle (EV) supply chains, renewables, electronics, and automotive engineering segments.
• In-City Logistics Centers: A development pipeline of 6.31 msf across 7 major metropolitan cities tailored for last-mile delivery, pharma distribution, quick-commerce dark stores, cloud kitchens, and urban service hubs.
• Integrated Turnkey Solutions: Beyond basic leasing, the platform provides value-added solutions including custom built-to-suit (BTS) developments, captive rooftop solar installations, cold storage infrastructure, on-site staff housing, and vocational training facilities.

Client Base & Strategic Moat

As of November 30, 2025, Horizon Industrial Parks maintains a high-quality tenant roster of over 100 enterprise customers, including leading multinational corporations (MNCs) and domestic conglomerates across e-commerce, retail, FMCG, clean energy, and heavy industrial manufacturing. The platform leverages its institutional backing, nationwide scale, prime land holdings, and full-stack operational capabilities to secure long-term tenancy agreements and maintain high portfolio occupancy.

For the year/period ended (Rs. in Cr.)

For year/ period ended ( in Cr.)

*Market cap @upper band

• Largest player with premium-quality offerings strategically located across prime markets, including in-city locations with a fully integrated platform.
• Well-positioned to benefit from strong industry tailwinds; their business is derivative of India’s manufacturing, consumption, and e-commerce tailwinds.
• Strong customer relationship – A testament to their ability to lease and actively manage our assets with the ability to provide a comprehensive business ecosystem to their customers, not just real estate solutions.
• Proven engineering and technical capabilities enabling the execution of complex industrial projects.
• Proven expertise in development and acquisitions, backed by a strong track record of executing joint ventures and maintaining government partnerships.
• Commitment to enhanced sustainability practices with high sustainability standards.
• Highly skilled and professional leadership team.

The Company IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

• Repayment and/or prepayment, in part or full, of certain borrowings availed by the company and Certain wholly owned Subsidiaries of Company, namely Bagur Logistics Park Pvt.Ltd., Embassy Industrial Park Hosur Pvt.Ltd., Farukhnagar Logistics Parks LLP, FRK II Industrial Park Pvt.Ltd., Goodluck Buildtech Pvt.Ltd., ILV Distripark Pvt.Ltd., ILV Distripark (MWC) Pvt.Ltd., Jindpur Industrial Park Pvt.Ltd., Kalina Warehousing Pvt.Ltd., Lakshmi (Rs 2250 Cr)
• General Corporate Purposes.

At the upper band of IPO ₹ 60, the stock is valued at (72.29) P/E multiple. Hence, well-informed investors subscribe for medium to long term perspective.