Horizon Industrial Parks Limited IPO
ListedMainboardMiscellaneous
1.52×
Subscribed
Price band
₹57 – ₹60
Lot size
250
1 lot = ₹15,000
Issue size
₹2.6k Cr
Open – close
17 Aug 2026
to 19 Aug 2026
Listing
24 Aug 2026
Listing gain
+0.42%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Caution3 of 7 dimensions read
The filing raises real questions — 0 of 3 signals read negative
Strength50/100
- Meaningful leverageDebt/equity of 1.18×
- Some related-party dealingsRelated-party transactions are 7.5% of revenue
- Institutional book coveredQIB portion subscribed 1.94×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed, and is pulled toward neutral to reflect how much the document leaves unsaid. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens17 Aug 2026
- Closes19 Aug 2026
- Allotment20 Aug 2026
- Listing24 Aug 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB1.94x
Non-institutionalNII / HNI1.03x
Big NIIabove ₹10L1.19x
Small NII₹2L – ₹10L0.70x
Retail individualRII1.02x
Employee1.50x
1,39,387 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 19 Aug 2026.
Chance of allotment
Retail1.02× subscribed
~1 in 1
Minimum 1 lot · 250 shares · ₹15,000 blocked
Retail is 1.02× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 1 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII1.03× subscribed
~1 in 1
Minimum 14 lots · 3,500 shares · ₹2,10,000 blocked
HNI is 1.03× subscribed. This category is allotted proportionately, so a bid receives roughly 1/1 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹57 – ₹60
Face value₹10
Lot size250shares
Minimum application₹15,000at cut-off
Total issue size₹2.6k Cr
Listing atMainboard
Company & valuation
Debt / equity1.18×
Related-party7.48%of revenue
RoNW-4.23%
EBITDA Margin79.16%
NAV27.89
Price to Book Value2.15
ISININE685T01010
RegistrarKARVY
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB | 32,43,75,000 | 74.84% |
| Anchor Investor | 19,46,25,000 | 44.91% |
| QIB (Ex. Anchor) | 12,97,50,000 | 29.94% |
| NII (HNI) | 6,48,75,000 | 14.97% |
| bNII > ₹10L | 4,32,50,000 | 9.98% |
| sNII < ₹10L | 2,16,25,000 | 4.99% |
| Retail | 4,32,50,000 | 9.98% |
| Employee | 9,09,090 | 0.21% |
Total issue 43,34,09,090 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Retail (Min)₹15,0001 lot · 250 sh
Retail (Max)₹1,95,00013 lots · 3,250 sh
S-HNI (Min)₹2,10,00014 lots · 3,500 sh
S-HNI (Max)₹9,90,00066 lots · 16,500 sh
B-HNI (Min)₹10,05,00067 lots · 16,750 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
Anchor book
Shares allotted19,46,25,000
Anchor portion₹1.17k Cr
Bid date14 Aug 2026
Lock-in ends (50%)18 Sept 2026
Lock-in ends (rest)17 Nov 2026
Anchors are institutional money placed a day before bidding opens, against a lock-in. Those two dates are when that stock can first be sold — a supply event worth knowing if you still hold.
What the money is for
Stated use of the net proceeds
- 01Repayment and/or prepayment, in part or full, of certain borrowings availed by: Our Company; and Certain wholly owned Subsidiaries of our Company, namely Bagur Logistics Park Private Limited, Embassy Industrial Park Hosur Private Limited, Farukhnagar Logistics Parks LLP, FRK II Industrial Park Private Limited, Goodluck Buildtech Private Limited, ILV Distripark Private Limited, ILV Distripark (MWC) Private Limited, Jindpur Industrial Park Private Limited, Kalina Warehousing Private Limited, Lakshmipathi Realtors Private Limited, LI Industrial Parks Private Limited, Malur Logistics and Industrial Parks Private Limited, Panvel Warehousing Private Limited, Patencheru Industrial Park Private Limited, Redhills Industrial Park Private Limited and Vertical Logistic Park LLP, (“Identified Subsidiaries”), through investments in such Subsidiaries₹2.25k Cr
- 02General corporate purposes₹241.88 Cr
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumA significant portion of our assets in our network have been acquired from our Promoters and related entities in Fiscals 2025 and 2026, and we may undertake further acquisitions from them. We cannot assure you that such future transactions will perform as expected or result in the benefit envisaged
mediumThe Proforma Financial Information included in this Prospectus is presented for illustrative purposes only and may not accurately reflect our financial condition or results of operations. If the various assumptions underlying the preparation of the Proforma Financial Information do not come to pass,
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
+6.1%
Listed up
6 of 8
Best
+65.4%
Orient Cables (India) Limited
Worst
-2.3%
Vishal Nirmiti Limited
Fusion CX Limitedsame segment
4.5× sub+5.5%
HD Fire Protect Limitedsame segment
131.7× sub+23.6%
Nityas Gems and Jewellery Limitedsame segment
2.3× sub+6.7%
Vishal Nirmiti Limitedsame segment
1.7× sub-2.3%
Shah Investor's Home Limitedsame segment
38.1× sub+2.4%
Srit India Limitedsame segment
125.2× sub+13.8%
Runwal Enterprises Limitedsame segment
2.5× sub+0.0%
Orient Cables (India) Limitedsame segment
92.3× sub+65.4%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About Horizon Industrial Parks Limited
Horizon Industrial Parks Limited is an industrial and logistics infrastructure developer, owner and operator in India. The company provides fulfilment centres (warehouses), industrial facilities and in-city centres across major industrial and consumption hubs. Its fulfilment centres provide bulk storage facilities for sectors such as e-commerce, third-party logistics, FMCG and retail, while its industrial facilities support assembly, light engineering, manufacturing and related storage activities across sectors including renewable energy, electric vehicles, automotive, electronics, aerospace, specialty chemicals and telecommunications. Its in-city centres support uses such as last-mile delivery, micro-fulfilment, cold storage, retail, research and development (R&D) and service centres. The company also provides built-to-suit and plug-and-play facilities, turnkey development, cold storage, energy solutions, on-site staff accommodation, racking and material handling equipment. As of the date of the red herring prospectus, its network comprises 45 assets across 10 cities, totalling 58.58 million square feet of leasable area.
Founded 2009MD Mr Alok JainSector Miscellaneous
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Horizon Industrial Parks Limited IPO subscribed?
Horizon Industrial Parks Limited is subscribed 1.52× overall (QIB 1.94×, NII 1.03×, retail 1.02×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, KARVY.
What is the minimum investment in the Horizon Industrial Parks Limited IPO?
One lot is 250 shares, so a retail application at the ₹60 cut-off price blocks ₹15,000. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the Horizon Industrial Parks Limited IPO?
The retail portion is subscribed 1.02×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 1. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the Horizon Industrial Parks Limited IPO allotment date?
Allotment is scheduled for 2026-08-20, with listing on 2026-08-24. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, KARVY.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.