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Blackstone-backed Horizon Industrial Parks Ltd will open its Rs 2,600 crore IPO for public subscription on August 17, with the price band set at Rs 57-60 per share. The three-day issue will close on August 19, while anchor investor bidding is scheduled for August 14. The IPO will comprise entirely a fresh issue, with no Offer For Sale component, and the proceeds will be used to repay borrowings. At the upper price band, the issue implies a post-IPO market capitalisation of around Rs 17,298 crore. Blackstone currently holds approximately 89% of the company. Horizon Industrial Parks owns and operates around 60 million sq. ft. across 46 industrial and logistics assets in 10 cities. Its shares are proposed to list on BSE and NSE on August 24.
Blackstone-backed Horizon Industrial Parks Ltd will open its Rs 2,600 crore Initial Public Offering (IPO) for public subscription on August 17, with the price band fixed at Rs 57-60 per share.
The three-day public issue will remain open until August 19, according to a public announcement. Bidding by anchor investors is scheduled to take place on August 14. At the upper end of the price band, the IPO implies a post-issue market capitalisation of approximately Rs 17,298 crore.
The issue will comprise entirely a fresh issue of equity shares aggregating up to Rs 2,600 crore. There will be no Offer For Sale (OFS) component, meaning existing shareholders will not sell their holdings as part of the public issue.
Horizon Industrial Parks plans to use the proceeds from the IPO towards repayment of borrowings. Blackstone currently holds approximately 89% of the company, according to the Red Herring Prospectus (RHP).
Horizon Industrial Parks is an industrial and logistics infrastructure developer, owner and operator. The company has a portfolio of approximately 60 million sq. ft. spread across 46 assets in 10 cities.
The IPO allocation provides 75% of the offer to Qualified Institutional Buyers (QIBs), while Non-Institutional Investors (NIIs) will be allocated 15% and retail investors 10%.
The equity shares are proposed to be listed on both the BSE and NSE on August 24.
Axis Capital, JM Financial, IIFL Capital Services, SBI Capital Markets and 360 ONE WAM are acting as the book-running lead managers for the issue. KFin Technologies has been appointed as the registrar.
Source - PTI
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