Horizon Industrial Parks files DRHP for IPO

Horizon Industrial Parks, a logistics platform backed by Blackstone, has filed a draft red herring prospectus (DRHP) with SEBI to raise Rs 26 billion through an initial public offering (IPO). The issue entirely comprises a fresh issue, with no offer-for-sale (OFS) component. In the pre-IPO round, prior to filing the DRHP, the real estate investment trust (REIT) raised Rs 16.5 billion from investors such as 360 ONE, SBI Life Insurance, State Bank of India, EAAA and DSP Investments. The IPO proceeds of Rs 22.5 billion will be utilised for repayment of debt, with the remaining amount earmarked for general corporate purposes.