This issue is entirely a fresh offer of equity shares, with no offer for sale (OFS) component. According to the Draft Red Herring Prospectus (DRHP), out of revenue of around Rs. 2,250 crore will be used to repay the loan.
Blackstone currently owns 89 percent of the company, the draft paper shows.
Ahead of the public issue, the company has raised around USD 200 million (around Rs 1,650 crore) in a pre-IPO round with participation from investors such as 360 ONE, SBI Life Insurance, SBI, Radhakishen Damani, EAAA and DSP Investments.
Including the pre-IPO placement, Horizon raised around Rs. 4,250 crore (USD 500 million) total fund raising target.
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Horizon Industrial Parks is an industrial and logistics infrastructure developer, owner and operator with a pan-India portfolio of approximately 60 million square feet spread across 46 assets in 10 cities.
Blackstone made its first acquisition in the platform in 2020 and has scaled it to its current size over the past five years.
The company operates in fulfillment centers, industrial facilities and in-city logistics assets. Its portfolio is about 95 percent committed, with more than 100 clients, of which about 60 percent are Fortune 500 companies.
JM Financial, IIFL Capital Services, SBI Capital Markets and 360 One are the merchant bankers of the WAM issue.
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