Knowledge Realty Trust, backed by real estate firm Sattva Group and global investment firm Blackstone, has received SEBI’s approval to launch its REIT public issue, aiming to raise ₹4,800 crore.
Last month, Knowledge Realty Trust (KRT) secured ₹1,400 crore from investors in a pre-IPO round ahead of its upcoming maiden REIT public offering.
In early March, Knowledge Realty Trust (KRT) filed its Draft Red Herring Prospectus (DRHP) with SEBI to launch an initial public offering (IPO) and list its REIT on the stock exchanges. This move is part of KRT’s broader strategy to monetize its portfolio of 30 prime office assets located across major Indian cities.
According to sources, SEBI has granted approval for the REIT-IPO, which is expected to hit the capital markets in the first week of August.
Knowledge Realty Trust (KRT), backed by Sattva Group and Blackstone, is preparing to launch its ₹4,800 crore REIT initial public offering (IPO) in the first week of August, following SEBI’s recent approval. This marks a significant milestone in KRT’s strategy to monetize its 30 prime office assets across key Indian cities.
In a pre-IPO round last month, KRT raised ₹1,400 crore from investors. The company will kick off its roadshow this week and is likely to announce the price band on August 30. A spokesperson from Sattva Group declined to comment on the development.
KRT aims to become India’s largest REIT, with a gross asset value of around ₹62,000 crore. In the previous fiscal year, its net operating income stood at ₹3,432 crore.
The trust holds over 46 million sq ft of office space spread across 29 properties in six cities, including marquee assets such as One BKC and One World Center in Mumbai, Knowledge City and Knowledge Park in Hyderabad, and Cessna Business Park and Sattva Softzone in Bengaluru.
Post-listing, Blackstone and Sattva will retain approximately 80% ownership in the REIT.
Currently, India has four listed REITs: Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust. Among them, Nexus focuses solely on retail real estate, while the others—including KRT—back their portfolios with rent-generating office assets.
Knowledge Realty Trust’s upcoming ₹4,800 crore REIT IPO marks a major milestone for India’s real estate investment landscape. As the IPO gears up for an early August launch, it not only demonstrates growing investor confidence in India’s commercial real estate sector but also highlights the increasing maturity and depth of the country’s REIT markets. Consequently, this development will further strengthen institutional interest and unlock new opportunities for capital inflow into the sector.
