Horizon Industrial Parks’ Rs 2,600 Cr IPO To Open Aug 17 at Rs 57–60 Price Band

New Delhi: 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.

At the upper price band, the IPO implies a post-issue market capitalisation of around Rs 17,298 crore.

The three-day public issue will close on August 19, while bidding by anchor investors will take place on August 14, according to a public announcement.

The issue comprises entirely a fresh issue of equity shares aggregating up to Rs 2,600 crore, with no Offer For Sale (OFS) component.

The company proposes to use the IPO proceeds to repay borrowings.

Blackstone currently holds around 89 per cent stake in the company, as per the Red Herring Prospectus (RHP).

Horizon Industrial Parks is an industrial and logistics infrastructure developer, owner and operator with a portfolio of around 60 million square feet across 46 assets in 10 cities.

Qualified Institutional Buyers (QIBs) have been allocated 75 per cent of the offer, while Non-Institutional Investors (NIIs) will get 15 per cent and retail investors 10 per cent.

The equity shares are proposed to be listed on BSE and NSE on August 24.

Axis Capital, JM Financial, IIFL Capital Services, SBI Capital Markets and 360 ONE WAM are the book-running lead managers, while KFin Technologies is the registrar.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)