Blackstone-backed Horizon Industrial Parks secures 11.7 billion rupees from anchor investors in a pre-IPO funding round, reflecting rising investor interest in India’s logistics and industrial real estate market amidst regional expansion activities.
Blackstone-backed Horizon Industrial Parks has raised about 11.7 billion rupees, or $122.4 million, from anchor investors ahead of its planned initial public offering, lifting momentum behind one of India’s biggest recent industrial property listings. The company said it placed 194.6 million shares at 60 rupees each, the top of the 57-rupee to 60-rupee price band set earlier this month, with Morgan Stanley, Carmignac and Millennium Management among the buyers.
Moneycontrol reported that Horizon has already received observations from India’s markets regulator, the Securities and Exchange Board of India, for the float, which is expected to raise 26 billion rupees through a fresh issue with no offer-for-sale component. The company operates a pan-India industrial and logistics platform spanning roughly 60 million square feet across 46 assets in 10 cities, underscoring the scale of the business behind the offering.
The fundraising comes as industrial and logistics assets continue to attract investor interest in India, where demand for warehousing and fulfilment space has been supported by e-commerce, manufacturing and supply-chain expansion. Horizon’s anchor book also included Societe Generale, Citigroup Global and Viridian Asset Management, according to the company’s announcement.
Elsewhere in the region, the Business Times reported that OpenAI is in talks to lease about 100,000 square feet at Singapore’s newly completed Shaw Tower, a move that would add to the ChatGPT maker’s planned expansion in the city-state after its pledge earlier this year to invest 300 million Singapore dollars, including its first Applied AI Lab outside the United States.
In Sydney, The Australian reported that Ping An Real Estate is weighing the sale of its 50% stake in Salesforce Tower at a valuation of 1.7 billion Australian dollars, while developer Revelop has agreed to buy Parklea Markets for close to 150 million Australian dollars. That broader deal flow highlights continued appetite for prime assets and redevelopment opportunities across Australia’s commercial property market.
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