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.
What happened
Blackstone is preparing to list Horizon Industrial Parks, India's largest grade-A warehousing platform leased to retailers like Flipkart and Decathlon, but over
Key facts
- $13 billion fund
- 45 assets
- 58 million sq ft
- 10 cities
- 35 assets acquired in/after FY25
Why this matters
Blackstone's IPO timing signals peak warehousing valuations in India; if you're sitting on grade-A logistics assets, this is the window to monetize via sale or platform deal before public comps reset lower.