Horizon Industrial Parks Files for IPO, Bets on India’s Logistics Growth

Blackstone-backed Horizon Industrial Parks has taken a major step towards the capital markets by filing for an initial public offering, underlining growing investor confidence in India’s industrial and logistics real estate segment. The proposed IPO is expected to raise around ₹4,250 crore, including a significant pre-IPO placement, and comes amid strong demand for Grade A warehousing and in-city logistics assets across the country.

Horizon Industrial Parks has emerged as one of India’s largest owners and operators of industrial and logistics infrastructure in a remarkably short span. Since Blackstone made its first acquisition in the platform in 2020, the company has scaled its portfolio to nearly 60 million square feet across 46 assets in 10 cities. Of this, around 27 million square feet is already operational, with the balance under various stages of development.

A key strength of Horizon’s portfolio lies in its strong in-city presence. The company operates 17 strategically located assets across seven cities, designed to serve last-mile logistics and provide direct access to more than 20 million end consumers. This positioning has become increasingly valuable as quick commerce, e-commerce and on-demand delivery models gain traction in urban India.

The platform offers an integrated ecosystem covering fulfilment centres, industrial facilities and urban distribution hubs, supported by in-house development, leasing and asset management capabilities. Its portfolio enjoys around 95 percent committed occupancy, with a diversified tenant base of over 100 customers, nearly 60 percent of whom are Fortune 500 companies, reflecting the quality and resilience of its assets.

The IPO is backed by strong macro and sector fundamentals. India remains the fastest-growing major economy, with manufacturing gross value added projected to cross one trillion dollars by FY30. At the same time, consumption growth is accelerating, driven by e-commerce expansion and the rapid rise of quick commerce, which is expected to see multi-fold growth over the next decade.

Despite this momentum, India’s industrial and logistics real estate market remains structurally underpenetrated, with total Grade A and B stock significantly lower than global peers. With robust demand visibility and a scaled portfolio, Horizon Industrial Parks is positioning itself as a long-term play on India’s manufacturing, consumption and logistics transformation.