Blackstone Inc.-owned Horizon Industrial Parks is considering an initial public offering in Mumbai next year that could raise about $500 million, according to people familiar with the matter.
The Indian company is in talks with banks about the proposed share sale and seeking an enterprise valuation of $4 billion, the people said, asking not to be identified because the information is private.
Deliberations about a possible IPO are at an early stage and details such as size and timing may change, the people said.
Blackstone declined to comment.
Blackstone established Horizon Industrial Parks in 2022 through Blackstone Real Estate funds. The company operates 40 industrial and logistics parks in India, its website shows.
Other recent deals involving Blackstone-backed firms in India include Knowledge Realty Trust REIT, which raised about $550 million in an IPO earlier this month.
Indian IPOs have raised more than $8 billion this year, according to data compiled by Bloomberg. About $18 billion could be raised in the second half, Jefferies Financial Group has forecast, which would take 2025 past last year's record of $21 billion.
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