1 week ago
Horizon Industrial Parks Shares Set for Modest IPO Debut
Horizon Industrial Parks sold shares to the public through an IPO.
The IPO received bids for 1.52 times the number of shares offered.
Its shares are expected to start trading on Monday.
Grey market sources suggest the shares may list slightly above the IPO’s highest price.
The estimated price is ₹63.4, compared with the issue price of ₹60.
The IPO was open from 17 August to 19 August.
Share allotment was completed on 20 August.
The company plans to use the money to repay some loans and for general business needs.
Horizon Industrial Parks shares are scheduled to debut on the BSE and NSE on Monday.
The IPO was subscribed 1.52 times overall during its 17–19 August bidding period.
Grey market sources indicated a ₹3.4 premium, implying an estimated ₹63.4 listing price.
The issue had a ₹57–₹60 price band and comprised 43.34 crore fresh shares worth ₹2,600 crore.
Proceeds will be used to repay certain borrowings and for general corporate purposes.
- Who
- Horizon Industrial Parks and investors who bid for its IPO.
- What
- Horizon Industrial Parks shares are set to list after its ₹2,600 crore IPO.
- Where
- On the Indian bourses, the BSE and the NSE.
- When
- The IPO ran from 17 to 19 August, allotment was finalized on 20 August, and the shares are scheduled to debut on Monday.
- Why
- The company plans to use the IPO proceeds to repay certain borrowings and for general corporate purposes.
Key facts
- Overall subscription
- 1.52 times
- IPO price band
- ₹57 to ₹60 per share
- Issue size
- 43.34 crore fresh shares worth ₹2,600 crore
- Grey market premium
- ₹3.4 on Friday morning, according to grey market sources
- Estimated listing price
- ₹63.4, or 5.67% above the ₹60 upper price-band price
- IPO registrar
- KFin Technologies
- Asset network
- Spread across 10 major industrial and consumption hubs in India, according to the company
Sources
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