India's Horizon Industrial Parks slips 2.2% in market debut
BUZZ-India's Horizon Industrial Parks slips 2.2% in market debut ** 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)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))