NewsHorizon Industrial Parks IPO Day 2 Live: 0x subscription so far - Check analysts view and moreHorizon Industrial Parks IPO Day 2 Live: 0x subscription so far - Check analysts view and more
Horizon Industrial Parks IPO shows 0x subscription on Day 2. The industrial logistics developer filed for an issue with a price band of ₹57.00000 - ₹60.00000. Key risks include substantial historical losses and high debt burden.
*this image is generated using AI for illustrative purposes only.
Horizon Industrial Parks IPO subscription stands at 0x on Day 2, with no momentum recorded across any investor categories. The issue, which opened on August 17, 2026, has seen flat activity as of the latest update on August 14, 2026, with QIB, NII, and Retail segments all showing 0.00x subscription.
Subscription Status
The IPO is currently in its early stages with no significant bidding activity reported. Below is the progression of subscription data:
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 13-08-2026 | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Day 2 | 14-08-2026 | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
Intra-day timeline on 14-08-2026
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 05:45 | 0.00x | 0.00x | 0.00x | 0.00x |
| 06:45 | 0.00x | 0.00x | 0.00x | 0.00x |
About the Company
Horizon Industrial Parks is India's largest industrial and logistics infrastructure developer, owner, and operator by Total Network. Founded in 2009, the company operates a pan-India network of 45 assets across 10 cities, totaling 58.58 million square feet. It offers Grade A quality fulfillment centers, industrial facilities, and in-city centers. The management team includes CEO Urvish Jayantilal Rambhia and MD Anshu Prakash.
Financial Highlights
The company has reported losses over the last three fiscal years due to high finance costs associated with its capital-intensive business model.
| Metric (₹ crores) | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|
| Revenue from Operations | 228.86 | 390.29 | 691.38 |
| Total Profit | -162.21 | -178.78 | -203.65 |
| Total Equity | 702.38 | 1178.72 | 5858.74 |
Objects of the Issue
- Repayment and/or prepayment of borrowings: ₹2250.00 crores to reduce outstanding indebtedness and debt servicing costs.
- General corporate purposes: Balance net proceeds for strategic initiatives, capital expenditure, and working capital requirements.
Risk Factors
- Substantial Historical Losses: Incurred losses of ₹2,036.49 million in FY 2026, with finance costs representing 77.96% of revenue.
- High Debt Burden: Substantial indebtedness of ₹68,843.41 million as of March 31, 2026, with restrictive covenants.
- Land Title Uncertainties: Legal defects and irregularities in land titles, including non-compliance with conversion processes.
Offer Details
- Price Band: ₹57.00000 - ₹60.00000
- Issue Size: 13750 - 500000
- Min Bid Qty: 250
- Open Date: 2026-08-17
- Close Date: 2026-08-19
Will the lack of initial interest from QIBs and retail investors force Horizon Industrial Parks to revise its price band or extend the issue window?
How might the company's substantial debt burden of ₹68,843 crore and high finance costs impact its ability to service debt post-IPO if subscription remains weak?
Could the reported land title uncertainties and legal irregularities deter institutional investors from participating in the final days of the IPO?
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