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 remains unsubscribed at 0x on Day 2. The industrial real estate firm, valued with a price band of ₹57-₹60, reported FY2026 revenue of ₹691.38 crores but posted a loss of ₹203.65 crores. Key risks include high debt and customer concentration.
*this image is generated using AI for illustrative purposes only.
Horizon Industrial Parks IPO subscription data for Day 2 shows no movement, with the issue remaining at 0x across all investor categories. The industrial and logistics infrastructure developer’s public issue is currently open but has not attracted any bids so far on the second day of subscription.
Subscription Status
The IPO saw no traction on Day 1 (August 13, 2026) and continues to register 0x subscription on Day 2 (August 14, 2026). There were no intra-day spikes or momentum shifts recorded during trading hours.
| 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 |
| 07:45 | 0.00x | 0.00x | 0.00x | 0.00x |
| 08:45 | 0.00x | 0.00x | 0.00x | 0.00x |
| 09:45 | 0.00x | 0.00x | 0.00x | 0.00x |
| 10:45 | 0.00x | 0.00x | 0.00x | 0.00x |
| 11:45 | 0.00x | 0.00x | 0.00x | 0.00x |
No category is leading as subscriptions stand at zero. The total subscribed amount has not crossed the 1x threshold.
About the Company
Horizon Industrial Parks is India's largest industrial and logistics infrastructure developer, owner, and operator by Total Network. Founded in 2009, it operates a pan-India network of 45 assets across 10 cities, totaling 58.58 million square feet. The company offers Grade A quality fulfillment centers, industrial facilities, and in-city centers. Key management includes CEO Urvish Jayantilal Rambhia and MD Anshu Prakash.
Financial Highlights
The company reported revenue from operations of ₹691.38 crores in FY2026, up from ₹390.29 crores in FY2025 and ₹228.86 crores in FY2024. However, it incurred losses of ₹203.65 crores in FY2026.
| Particulars | FY2026 (₹ crores) | FY2025 (₹ crores) | FY2024 (₹ crores) |
|---|---|---|---|
| Revenue from Operations | 691.38 | 390.29 | 228.86 |
| Total Profit/Loss | -203.65 | -178.78 | -162.21 |
| Total Equity | 5858.74 | 1178.72 | 702.38 |
Objects of the Issue
- Repayment and/or prepayment of borrowings: ₹2250.00 crores
- General corporate purposes: Balance net proceeds
Risk Factors
- Substantial historical losses and high finance costs, with finance costs representing over 77% of revenue.
- High debt burden with a debt-equity ratio of 1.18 times and restrictive financial covenants.
- Significant recent asset acquisitions may limit the accuracy of proforma financial information.
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 Horizon Industrial Parks consider revising its price band or extending the subscription window to attract investor interest given the zero traction?
How might the complete lack of bids on Day 2 impact the company's ability to meet its ₹2,250 crore debt repayment obligations through this IPO?
Are institutional investors likely to wait for the final day of subscription to gauge retail sentiment before committing capital?
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