Blackstone-backed Horizon Industrial Parks Ltd will open its Rs 2,600 crore Initial Public Offering (IPO) for subscription on August 17, with the price band fixed at Rs 57-60 per share.

At the upper price band, the IPO implies a post-issue market capitalisation of around Rs 17,298 crore.

The three-day public issue will close on August 19, and anchor investor bidding will take place on August 14, according to a public announcement.

The issue comprises entirely a fresh issue of equity shares aggregating up to Rs 2,600 crore, with no Offer For Sale (OFS) component.

Of the IPO proceeds, the company plans to use Rs 2,250 crore to repay borrowings and the rest for general corporate purposes.

As of March 2026, the firm had total borrowings of Rs 6,884 crore.

Blackstone holds around 89 per cent stake in the company, as per the Red Herring Prospectus (RHP).

Asheesh Mohta, Head of Real Estate India at Blackstone, said this also marks Blackstone's 15th IPO in the country, and 7th real estate listing.

"This is a continuation of our efforts to drive innovation in Indian capital markets and expand opportunities for our investors. We are proud to have built Horizon Industrial Parks into India's largest Industrial & logistics platform with high quality assets, marquee tenants and support a critical pillar of economic growth," he added.

Horizon Industrial Parks is an industrial and logistics infrastructure developer, owner and operator with a portfolio of around 60 million square feet across 46 assets in 10 cities.

Urvish Rambhia, CEO of Horizon Industrial Parks, said that in just six years, the company has grown into India's largest industrial & logistics platform, backed by Blackstone's global scale, deep sector expertise and strong operating capabilities.

"Industrial & logistics infrastructure is a critical backbone of manufacturing and economic growth, and we look forward to continuing to build the modern, high-quality facilities India needs to support its next phase of growth," he added.

On the financial front, Horizon Industrial Parks posted a loss of Rs 203.65 crore and revenues of Rs 691.38 crore in FY26.

Qualified Institutional Buyers (QIBs) have been allocated 75 per cent of the offer, while Non-Institutional Investors (NIIs) will get 15 per cent and retail investors 10 per cent.

The equity shares are proposed to be listed on BSE and NSE on August 24. Axis Capital, JM Financial, IIFL Capital Services, SBI Capital Markets and 360 ONE WAM are the book-running lead managers, while KFin Technologies is the registrar.