Horizon Industrial Parks has set the price band for its initial public offering (IPO) between ₹57 and ₹60 per equity share, with a face value of ₹10. The subscription for the IPO will open on August 17 and close on August 19. The company aims to raise ₹2,600 crore through this offering, according to livemint.com.
The funds raised from the IPO will primarily be used for debt repayment. Horizon Industrial Parks plans to list its shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on August 24. The company has finalized the price band after consultations with its merchant bankers and market conditions, as reported by livemint.com.
This IPO comes at a time when industrial park developers are seeking capital to expand and reduce leverage. The ₹2,600 crore target places Horizon Industrial Parks among the larger IPOs in the infrastructure segment this year. The offering is expected to attract institutional and retail investors looking for exposure to industrial real estate, a sector that has seen growing demand amid manufacturing growth in India, per livemint.com.
The subscription window for Horizon Industrial Parks' IPO will be open for three days from August 17 to August 19. The shares are scheduled to debut on the BSE and NSE on August 24, marking a key milestone for the company’s public market entry, according to livemint.com.