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Horizon Industrial Parks IPO Review

Horizon Industrial Parks IPO has been reviewed by 4 analysts, and the overall consensus is Avoid — carrying a score of 30. Out of the 4 analysts who have covered this IPO, 1 recommend subscribing while 3 advise caution or avoidance — reflecting a cautious view from the analyst community.

The issue is priced in the band of ₹57-60 per share, with a minimum application size of 250 shares (minimum investment of approximately ₹15,000 at the upper band). Subscription ran from 17 Aug 2026 to 19 Aug 2026. The issue size is ₹2,600 crore, entirely a fresh issue. As of now, the grey market premium (GMP) for Horizon Industrial Parks IPO is quoting at ₹1.5 (2.50%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
30/ 100
Avoid 1 of 4 recommend subscribing
How analysts voted
Apply 1
Neutral 1
Avoid 2
Not rated 1

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

Horizon Industrial Parks, set up in 2009 and backed by Blackstone, is described in the notes as India's largest industrial and logistics infrastructure developer and operator by network, offering Grade A warehouses, industrial facilities and in-city centres. Analyst opinion was negative: two of the three covering it said avoid, one said subscribe.

Listing gains

The notes value the issue at roughly 42 times EV to FY26 EBITDA of ₹531 crore on a post-issue basis. Because the company is loss-making, no earnings multiple applies at all. With two of the three analysts advising avoid at this price, the coverage pointed clearly towards a weak listing.

Short-term strategy

The reason for the avoid ratings is straightforward. The company has recorded persistent losses, with loss after tax widening from ₹162.21 crore in FY24 to ₹178.78 crore in FY25 and ₹203.65 crore in FY26. Fresh money goes towards repaying borrowings, which should ease interest, but profitability remains the near-term problem.

Long-term strategy

The positive note rests on scale and sponsor backing in a sector supported by warehousing and logistics demand, with EBITDA growing strongly from ₹151.51 crore to ₹607.80 crore over three years. The unresolved question across the coverage is when that EBITDA turns into actual profit, given the widening bottom-line losses.

How this is written: an AI-assisted summary of the 5 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Horizon Industrial Parks IPO?

The analyst consensus for Horizon Industrial Parks IPO tracked on this page is Avoid, with a score of 30/100. Out of 4 analysts who have reviewed this IPO, 1 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 30 mean for Horizon Industrial Parks IPO?

The score of 30 is an aggregate of all analyst ratings tracked for Horizon Industrial Parks IPO. A score in this range signals that most analysts are advising caution or outright avoidance. Read the individual analyst verdicts above for more context.

What was the actual listing price of Horizon Industrial Parks IPO?

Horizon Industrial Parks IPO listed on August 24, 2026 at ₹60.25, against the issue price of ₹60 — a gain of +0.42% (₹0.25 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Horizon Industrial Parks IPO?

Horizon Industrial Parks IPO was priced at ₹57-60 per share. The minimum lot size is 250 shares, making the minimum investment approximately ₹15,000 at the upper end of the price band. Subscription ran from 17 Aug 2026 to 19 Aug 2026.

Explore Horizon Industrial Parks IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Horizon Industrial Parks IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Avoid
Score
30 / 100
Listed at
₹60.25
Full IPO details