Blackstone preps Horizon Industrial Parks IPO; warehousing landlord to Flipkart, Decathlon eyes listing
India's largest grade-A warehousing platform — 58M sq ft across 10 cities, leased to retailers like Flipkart and Decathlon — heads for IPO. But over half the portfolio is still under construction, 35 of 45 assets were acquired in/after FY25, and the entity is loss-making, raising questions about whether the listing serves Blackstone's exit more than public investors.
Blackstone is preparing to list Horizon Industrial Parks, India's largest grade-A warehousing platform leased to retailers like Flipkart and Decathlon, but over half its 58M sq ft is under construction and the entity is loss-making.