Horizon Industrial Parks IPO vs Lalithaa Jewellery Mart IPO: Day 1 Subscription Status & GMP Compared

Two big mainboard IPOs opened for subscription today August 17th giving investors a rare side-by-side choice between an industrial real estate play and a South India-focused jewellery retailer.

Both the Horizon Industrial Parks IPO and the Lalithaa Jewellery Mart IPO will close on August 19 and are going to list on the BSE and NSE on August 24.

Horizon Industrial Parks IPO details

The Blackstone-backed Horizon Industrial Parks IPO is worth Rs 2,600 crore, and entirely a fresh issue of equity shares with no offer-for-sale component.

The price band has been fixed at Rs 57 to Rs 60 per share and the investors can get a a lot size of 250 shares minimum retail investment of around Rs 15,000.

The company, India's largest industrial and logistics infrastructure developer by total network according to a JLL report, plans to use Rs 2,250 crore of the issue proceeds to repay or prepay debt.

Lalithaa Jewellery Mart IPO details

The Lalithaa Jewellery Mart IPO is comparatively smaller at Rs 1,700 crore, split between a fresh issue of Rs 1,200 crore and an offer-for-sale worth Rs 500 crore from promoter M Kiran Kumar Jain.

The price band is set at Rs 190 to Rs 201 per share, with a lot size of 74 shares, requiring a minimum investment of about Rs 14,874 for the retail investors.

Lalithaa is a profitable business with peers such as Titan and Kalyan Jewellers. The company's return on net worth stands above 40%, and its revenue and profit after tax both grew strongly YoY in FY26. As per the DRHP, the proceeds from the fresh issue will be used to fund inventory for 10 new store openings across South India.

Horizon Industrial Parks IPO subscription status today

As of 1:24 PM on Day 1, the Horizon Industrial Parks IPO subscription stood at just 0.06 times overall. The retail category led with 0.15 times subscription, followed by qualified institutional buyers at 0.05 times, while the non-institutional investor category lagged at only 0.01 times.

Lalithaa Jewellery Mart IPO subscription status today

The Lalithaa Jewellery Mart IPO fared considerably better on Day 1, with the public issue subscribed 0.34 times overall by 1:24 PM. Retail investors drove the bulk of demand at 0.50 times subscription, and the NII category also showed healthy early traction at 0.38 times. The QIB (ex-anchor) portion was unsubscribed so far.

Horizon Industrial Parks IPO GMP vs Lalithaa Jewellery Mart IPO GMP

Grey market activity is also favouring Lalithaa Jewellery Mart over Horizon Industrial Parks. As per the data from Investor Gin website, The Lalithaa Jewellery Mart IPO GMP today stands at Rs 34 as of 12:37 PM, up from levels earlier in the week, pointing to an estimated listing price of Rs 235 against the upper price band of Rs 201 with an expected listing gain of nearly 16.92%.

However, the Horizon Industrial Parks IPO GMP has cooled to Rs 2.5 as of 12:35 PM. The estimated listing price is Rs 62.5 with an expected gain of about 4.17%.