Horizon Industrial

Horizon Industrial Parks' three BREP holding companies created an encumbrance over 2,173,652,856 equity shares representing 75.40% of its share capital. The security underpinned a term loan facility of up to $480 million from Barclays Bank, Deutsche Bank Singapore, First Abu Dhabi Bank GIFT City and Sumitomo Mitsui Banking Corporation under an agreement dated 28 September 2026. It comprised pledges over 100% of the three holding companies together with covenants over the underlying listed shares. Horizon operated a 61 msf industrial and logistics platform across 46 assets with around 30 msf operational and a land bank of about 2,300 acres. Revenue was Rs 2,005 million in the June quarter, up 23% from a year earlier, while proforma net debt stood at Rs 24.75 billion at 12.5% loan-to-value. Its shares listed on the BSE and the NSE on 24 August 2026.

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Horizon Industrial Parks' three promoter entities encumbered 2,173,652,856 equity shares representing 75.4% of its share capital under a facility agreement dated 28 September 2026. Parent companies of the promoters pledged 100% of their holdings in the promoter entities to DB International Trust (Singapore) as offshore security agent to secure term loan facilities of up to USD 480 million from Barclays, Deutsche Bank, First Abu Dhabi Bank and SMBC. The promoters agreed to covenants over the listed-company shares that constituted encumbrance, though no direct pledge was created over those shares, and the company itself was not a party to the agreements. The borrowing was earmarked for distributions to parent entities and investors and payment of transaction costs. The company listed on 24 August 2026 following a Rs 2,600 crore initial public offering and operated a 61 million sq ft platform across 46 assets with about 30 million sq ft operational. It reported revenue of Rs 2,005 million for the June quarter with proforma net debt of Rs 24.75 billion at 12.5% loan-to-value.

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Sept 11 (Reuters) - Horizon Industrial Parks Limited HORZ.NS:

• HORIZON INDUSTRIAL PARKS LIMITED JUNE-QUARTER CONSOL NET LOSS 103.2 MILLION RUPEES

• HORIZON INDUSTRIAL PARKS LIMITED JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 2.01 BILLION RUPEES

Source text: ID:nBSE1vDZsn

Further company coverage: HORZ.NS

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** Shares of Blackstone-backed Horizon Industrial Parks HORZ.NS trade at 58.68 rupees in their market debut, 2.2% below the IPO price of 60 rupees

** Stock opened at 60.25 rupees, marginally above issue price, before falling as much as 4.3% to 57.43 rupees

** Co had set a price band of 57-60 rupees per share for its 26 billion-rupee IPO

** Shivani Nyati, head of wealth at Swastika Investmart, says long-term outlook remains positive, citing 93.56% committed occupancy and planned debt reduction using IPO proceeds

** Nyati says debt reduction should improve cash generation and financial flexibility; sees valuation at about 2.15x price-to-book as reasonable

(Reporting by Surbhi Misra in Bengaluru)

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