Horizon Industrial Parks IPO Day 3 Final Subscription Status: 1.45x Subscribed; GMP at ₹1.3
Horizon Industrial Parks IPO Day 3 Final Subscription Status closed at 1.45x overall, with Qualified Institutional Buyers (QIBs) leading at 1.85x. Non-Institutional Investors (NIIs) finished at 0.98x, retail at 0.96x, and employees at 1.42x. The latest Grey Market Premium (GMP) is ₹1.3, although another tracker shows ₹2. The ₹2,600 crore Initial Public Offering (IPO) closed on 19 August 2026.
| Metric | Final update |
| Bidding day | Day 3 Final |
| Data status | Final after bidding closed on 19 August 2026 |
| Overall subscription | 1.45x |
| QIB subscription | 1.85x |
| NII subscription | 0.98x |
| Retail subscription | 0.96x |
| Employee subscription | 1.42x |
| Latest GMP | ₹1.3 |
| GMP percentage | 2.2% |
| Indicative price | ₹61.3 |
| Closing date | 19 August 2026 |
Horizon Industrial Parks IPO Day 3 Final Subscription Status
The final exchange data shows bids for about 36.38 crore shares against 25.14 crore shares available, taking the IPO to 1.45x subscription after the three-day bidding period. QIBs were the only main public-investor category to finish clearly above full subscription at 1.85x.
| Investor category | Final subscription |
| Qualified Institutional Buyers | 1.85x |
| Non-Institutional Investors | 0.98x |
| Retail Individual Investors | 0.96x |
| Employees | 1.42x |
| Overall | 1.45x |
The final book was therefore institution-led rather than uniformly oversubscribed. Retail and NII demand improved sharply on the last day but remained just below 1x, while the employee portion closed above full subscription.
Subscription multiples measure bid quantity relative to shares reserved for each category. They do not represent the number of unique applicants, and differences in category allocation should be considered before comparing the multiples directly.
Final Day-wise Subscription Trend
Demand changed substantially on Closing Day. The issue moved from 0.14x at the Day 1 close to 0.24x after Day 2, before finishing at 1.45x. The main final-day driver was the increase in institutional bidding.
| Bidding stage | Overall subscription | Key demand signal |
| Day 1 close | 0.14x | Retail 0.19x, QIB 0.18x |
| Day 2 close | 0.24x | Retail led at 0.43x |
| Day 3 Final | 1.45x | QIB led at 1.85x |
The increase from 0.24x to 1.45x on the final day shows how much of the book was built late in the bidding window. Institutional participation often develops later in book-built IPOs, but the final figures also show that the strength was not equally distributed. Retail and NII subscriptions stopped slightly short of full coverage.
Horizon Industrial Parks IPO GMP Today and Estimated Listing Price
The latest available Horizon Industrial Parks IPO GMP is ₹1.3 per share as of late evening (after 8:30 p.m. IST) on 19 August 2026. That is up from the same tracker’s ₹1 reading on 18 August. A second established tracker was quoting ₹2 on 19 August, so the grey market readings are not fully aligned.
| GMP observation | GMP | Direction |
| Latest reading, 19 August 2026 | ₹1.3 | Up from previous reading |
| Previous available reading, 18 August 2026 | ₹1 | Lower |
| Other tracker, 19 August 2026 | ₹2 | Higher than latest adopted reading |
Using the more recent ₹1.3 reading and the ₹60 upper price band:
Indicative price = ₹60 + ₹1.3 = ₹61.3
GMP percentage = ₹1.3 ÷ ₹60 × 100 = about 2.2%
GMP is unofficial, unregulated, and can change quickly. It is not an exchange-published figure and does not guarantee the actual listing price or any listing gain.
What Stands Out in Today’s Bidding
The strongest final-day signal was the QIB subscription of 1.85x, which helped take the overall book above full subscription. Employee demand was also above 1x at 1.42x.
At the same time, the final 0.96x retail and 0.98x NII readings show that demand was not broad-based across every category. The overall 1.45x multiple therefore needs to be read alongside the investor mix.
There is also a mild subscription-GMP divergence. Official demand accelerated strongly on Closing Day, but the latest adopted GMP of ₹1.3 represents only about 2.2% of the upper issue price. Subscription and GMP measure different things, and neither establishes fair valuation, business quality, or future returns.
IPO Details Retail Investors Need
| IPO detail | Information |
| Price band | ₹57 to ₹60 per share |
| Lot size | 250 shares |
| Minimum retail investment | ₹15,000 at the upper band |
| Issue size | About ₹2,600 crore |
| Fresh issue | About ₹2,600 crore |
| Offer for Sale (OFS) | Nil |
| Issue type | Mainboard, 100% book-built fresh issue |
| Closing date | 19 August 2026 |
| Expected listing date | 24 August 2026 |
| Exchange | NSE and BSE |
The issue consisted entirely of fresh shares, with no OFS. The company has earmarked about ₹2,250 crore of the proceeds for repayment or prepayment of certain borrowings.
Brief Company and Financial Context
Horizon Industrial Parks develops, owns, and operates industrial and logistics infrastructure, including fulfilment centres, industrial facilities, and in-city logistics assets. Its FY2026 revenue from operations was about ₹691.38 crore, compared with ₹390.29 crore in FY2025 on a restated basis, while the company remained loss-making, with a FY2026 net loss of about ₹203.65 crore.
Debt reduction is the main use of fresh proceeds. Key considerations include the company’s capital-intensive model, sizeable borrowings, execution risk on assets under development, and the fact that stronger operating scale has not yet translated into net profitability.
What Happens Next
With bidding closed, the expected basis of allotment is 20 August 2026. Refund or fund-unblocking activity and share credit are scheduled for 21 August, while Horizon Industrial Parks shares are expected to list on the NSE and BSE on 24 August 2026.
Frequently Asked Questions (FAQs)
Q: How many times was the Horizon Industrial Parks IPO subscribed on Day 3 Final?
A: The Horizon Industrial Parks IPO closed at 1.45x overall subscription on Day 3 Final. QIBs led at 1.85x, while NIIs were at 0.98x, retail at 0.96x, and employees at 1.42x.
Q: What is the Horizon Industrial Parks IPO GMP today?
A: The latest adopted GMP is ₹1.3 per share on 19 August 2026. Another tracker showed ₹2, so grey-market readings are not fully aligned. GMP is unofficial and can change before listing.
Q: What listing price does the current Horizon Industrial Parks IPO GMP indicate?
A: Using the ₹60 upper price band and a ₹1.3 GMP, the indicative price is about ₹61.3 per share, equivalent to an indicative premium of roughly 2.2%. This is not a guaranteed listing price.
Q: Does the 1.45x final subscription guarantee a premium listing?
A: No. Final subscription reflects bidding demand relative to the shares available. Listing performance can also depend on valuation, market conditions, investor sentiment, and company fundamentals. Even an oversubscribed IPO can list flat or below its issue price.
Q: What is the expected Horizon Industrial Parks IPO allotment date?
A: The basis of allotment is expected on 20 August 2026, followed by the scheduled share-credit and refund or unblock process on 21 August. The tentative listing date is 24 August 2026.
Disclaimer
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