Horizon Industrial Parks has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a proposed initial public offering (IPO), marking a significant step in its expansion as one of India’s largest industrial and logistics real estate platforms.

According to the DRHP, the company plans to raise approximately Rs 4,250 crore (around US$ 500 million) through the offering, comprising a fresh issue of about Rs 2,600 crore and a pre-IPO placement of approximately Rs 1,650 crore. The pre-IPO round has already attracted participation from institutional investors including 360 ONE, SBI Life Insurance, SBI, Radhakishan Damani, EAAA and DSP Investments, among others.

Backed by Blackstone, Horizon Industrial Parks has built a pan-India portfolio spanning around 60 million sq ft, of which approximately 27 million sq ft is completed. Its footprint covers 46 assets across 10 cities, including a large in-city network of 17 assets catering to last-mile logistics and urban consumption hubs. The company operates across industrial, logistics and in-city warehousing formats, offering integrated solutions for manufacturing, e-commerce and supply chain players.

The company’s portfolio is reported to have a 95 per cent committed occupancy, supported by a diversified customer base of more than 100 tenants, around 60 per cent of whom are Fortune 500 companies. Horizon’s platform is designed to support India’s growing manufacturing and consumption ecosystem through large-format logistics parks, urban fulfilment centres and integrated industrial facilities.

As per the DRHP, the IPO proceeds will primarily be used to support growth initiatives, including development of new assets, expansion of the existing portfolio, and strengthening the balance sheet.

The filing highlights strong structural tailwinds for the sector, including rapid growth in manufacturing, e-commerce and quick commerce. India’s logistics and industrial real estate market continues to benefit from rising consumption, increasing formalisation, and the need for modern Grade A facilities. The sector remains significantly underpenetrated, with Grade A and B stock substantially lower than in comparable global markets.

Horizon Industrial Parks is led by Urvish Rambhia, Chief Executive Officer, with Kunal Shah serving as Chief Financial Officer. Blackstone remains the sole promoter of the platform.

The proposed IPO is subject to market conditions and regulatory approvals.