Horizon Industrial Parks IPO entered its second day of bidding on Tuesday, 18 August, after a muted response on the first day. The ₹2,600 crore public issue was subscribed over 16% as of 10:35 am. The issue will remain open for bidding until Wednesday, 19 August 2026. The company has offered the IPO as a fresh issue, consisting of 43.34 crore shares.
Subscription Status Across Investor Categories
Retail Individual Investors were the most active group in the bidding so far. Their portion was subscribed at 27% of the 4.55 crore shares reserved for the category. Qualified Institutional Buyers also showed interest, with their portion subscribed at 18%. Non-Institutional Investors were slower to participate, with only 4% subscription recorded in their reserved portion.
| Investor Category | Subscription Level |
|---|---|
| Retail Individual Investors (RII) | 27% |
| Qualified Institutional Buyers (QIB) | 18% |
| Non-Institutional Investors (NII) | 4% |
| Overall Subscription | 16% |
Grey Market Premium
According to Investorgain, Horizon Industrial Parks shares were commanding a grey market premium of ₹1.7 on Tuesday. Based on that premium, the issue was indicating an estimated 2.83% listing gain over the upper end of the price band. The IPO price band has been fixed at ₹57 to ₹60 per share.
Brokerage Views on Occupancy and Debt Reduction
Swastika Investmart assigned a ‘subscribe’ tag to the issue. The brokerage noted that the company had committed operational occupancy of 93.56% across 118 enterprise tenants, and 54.05% of leased space was held by Fortune 500 companies. It further stated that the company reported an EBITDA margin of approximately 79.16% in FY26 and described the IPO as a structural asset play. The brokerage also noted that the fresh capital raise is linked to debt reduction. Investors looking to evaluate this IPO may also consider the importance of using a reliable trading platform to track live subscription data and grey market signals.
Company Background and Portfolio
Horizon Industrial Parks is backed by Blackstone Group and is described as India’s largest industrial and logistics infrastructure developer, owner and operator by total network, according to a JLL report. As of the DRHP date, the company had 45 logistics and industrial assets across 10 key cities in India, with a combined area of 58.01 million square feet.
The company focuses on developing and leasing warehouses and industrial facilities. Its portfolio includes fulfilment centres, industrial facilities, and in-city centres used for dark stores, pharmaceuticals, cloud kitchens, retail, and other services.
For those considering participation in Horizon Industrial Parks IPO as part of a broader stock investment strategy, understanding the company’s asset base, occupancy metrics, and debt profile may be relevant factors to assess before applying.
Key IPO Details at a Glance
- Issue Size: ₹2,600 crore (fresh issue)
- Total Shares on Offer: 43.34 crore shares
- Price Band: ₹57 to ₹60 per share
- Minimum Lot Size: 250 shares
- IPO Close Date: Wednesday, 19 August 2026
- Expected Allotment Date: 20 August 2026
- Grey Market Premium (as of 18 August): ₹1.7
- Indicative Listing Gain (based on GMP): 2.83%
Investors who wish to participate in upcoming public issues are advised to open demat account in advance to ensure readiness before the allotment and listing process begins.
Summary: Horizon Industrial Parks IPO was subscribed 16% on Day 2, with retail investors leading at 27%. GMP stands at ₹1.7, indicating a modest 2.83% estimated listing gain over the ₹60 price band.
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