• IPO issue details: Horizon Industrial Parks' ₹2,600 crore IPO is entirely a primary issuance priced at ₹57 to ₹60 per share, valuing the company at approximately ₹17,300 crore at the upper price band.
• Capacity expansion target: The company currently operates 3 crore square feet across 46 parks at near-full occupancy, aiming to double its operational area to 6 crore square feet within 4 to 4.5 years utilizing its existing 2,300-acre land portfolio.
• Capital allocation strategy: Total growth capital of ₹4,250 crore, comprising the ₹2,600 crore IPO and a ₹1,650 crore pre-DRHP raise, will initially be deployed to deleverage the balance sheet before funding future development alongside internal accruals.
• Financial growth momentum: Horizon is compounding revenue at a 27% CAGR and EBITDA at a 36% CAGR, supported by an execution run-rate of delivering roughly one building every 15 days.
• Build-and-lease model: Guided by promoter Blackstone's global logistics strategy, the company retains ownership of its land parcels located 10 to 20 kilometers outside major cities to capture long-term asset appreciation rather than selling completed assets.