Knowledge Realty Trust to launch ₹4,800-Cr REIT IPO after SEBI nod

By

-

July 28, 2025

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.

JüSTa Hotels & Resorts partners with Andhra Pradesh Tourism to drive hospitality growth

By

BRL Editor

-

July 28, 2025

0

JüSTa Hotels & Resorts has entered into a Memorandum of Understanding (MoU) with the Andhra Pradesh Tourism Authority, representing a major milestone in strengthening the state’s hospitality infrastructure and promoting tourism-driven growth.

Amrapali Kata, Chief Executive Officer of the Andhra Pradesh Tourism Authority, and Richa Khurana Singh, Vice President – Development at JüSTa Hotels & Resorts, formally signed the MoU. They unveiled the agreement during the Tourism Conclave in Vijayawada, in the esteemed presence of Andhra Pradesh Chief Minister Shri Chandra Babu Naidu.

As part of this strategic partnership, JüSTa Hotels & Resorts will serve as a key collaborator to the Government of Andhra Pradesh, actively facilitating brand affiliations and extending its hospitality expertise to investors interested in developing hotels and resorts across the state’s prime destinations. Moreover, the collaboration aims to fast-track the development of high-quality boutique and premium properties. Ultimately, these efforts will reflect JüSTa’s vision of delivering design-led, locally rooted hospitality experiences.

As per Ashish Vohra, Founder & CEO, JüSTa Hotels & Resorts, “We are proud to partner with the Andhra Pradesh Tourism Authority to support their vision of making the state a vibrant, world-class tourism destination and remain excited about the forward-looking tourism policy of the state under the able leadership of Mr. Naidu and his team.”

“Through this collaboration, we look forward to accelerating the growth and presence of JüSTa Hotels & Resorts in the state with both the business and leisure hotel offerings through our brands ‘JüSTa’ ‘Nuo by JüSTa’ and ‘Bookmark Resorts’,” added Richa Khurana Singh, Vice President – Development, JüSTa Hotels & Resorts.

Overall, this strategic partnership between JüSTa Hotels & Resorts and the Andhra Pradesh Tourism Authority marks a significant step toward transforming the state’s hospitality landscape. By effectively combining government support with JüSTa’s design-led, boutique hospitality expertise, the collaboration is poised to unlock new investment opportunities. Furthermore, it aims to elevate tourism experiences and firmly position Andhra Pradesh as a premier destination for culturally rich and premium travel.

Minimalist Hotels expands to Udaipur with its most luxurious property

By

BRL Editor

-

July 28, 2025

0

Minimalist Hotels expands to Udaipur with its most luxurious property — Gautam Munjal, Founder of Minimalist Hotels

Minimalist Hotels is preparing to debut in Udaipur with a 20-room boutique property offering stunning views of the iconic Lake Pichola. Slated to open in November 2025, this carefully curated retreat reflects the brand’s commitment to combining subtle luxury with rich, locally inspired experiences.

Nestled in the cultural core of Udaipur, the upcoming hotel offers more than just accommodation—it promises to be a destination in itself. The hotel will feature a rooftop bar, which it has designed as a modern, stylish haven above the city’s vibrant streets. Boasting panoramic views of Lake Pichola and Udaipur’s shimmering skyline, the rooftop aims to cater to the city’s growing demand for leisure and party tourism, further cementing Udaipur’s reputation as the Venice of the East.

The bar will provide an intimate, design-forward setting for both guests and locals, featuring a thoughtfully curated menu of refined cocktails inspired by global trends and regional flavors. With an ambiance that encourages both connection and relaxation, it promises a unique social experience. Strategically situated near upscale dining spots and historic landmarks, the property will also offer personalized cultural experiences and guided local tours—turning every guest stay into a rich and unforgettable journey.

Speaking on the expansion, Gautam Munjal, founder of Minimalist Hotels, said:
“Udaipur is a canvas of history, art, and soul—and we wanted to craft a property that speaks to all three through the lens of minimalism. This hotel is a reflection of where we see travel headed: towards meaning, design, and locality. With the rooftop bar, we’re creating not just a place to unwind, but a space where evenings become unforgettable. Our goal is to offer an elevated experience in every sense—visually, emotionally, and culturally.”

The hotel will feature a rooftop bar, which it has designed as a modern, stylish haven above the city’s vibrant streets.

Numeros Motors partners with Perpetuity Capital to offer EV financing with down payments

By

BRL Editor

-

July 28, 2025

0

Numeros Motors, a next-generation OEM focused on locally manufactured electric vehicles, has partnered with Perpetuity Capital, a rapidly growing NBFC specializing in EV financing. Furthermore, the partnership aligns with both companies’ commitment to accelerating the adoption of electric mobility across India.

Through this strategic collaboration, buyers can now enjoy several benefits, including competitive interest rates, flexible repayment plans, and enhanced access to electric mobility solutions. Moreover, this partnership significantly lowers the entry barrier for customers. Most notably, they can now purchase Numeros vehicles—including the newly launched Diplos Go—with a down payment as low as INR 15,499.

Key consumer benefits include:
i) Attractive low interest rates,
ii) Minimal upfront payment,
iii) Instant loan approvals,
iv) Flexible loan tenures, and
v) Rider-centric EMI structures.

Numeros Motors has unveiled its versatile new e-scooter, the Diplos Go, marking the company’s foray into the affordable commercial mobility segment under its flagship Diplos platform. Numeros Motors equips the Diplos Go with a 2.5 kWh single battery and advanced liquid immersion cooling technology, which significantly boosts battery performance and efficiency. The company has priced the e-scooter at INR 84,999 (ex-showroom, Pune and Bengaluru).

In a remarkable feat, the company has successfully completed India’s largest EV pilot test, clocking over 13.9 million kilometers—an unprecedented milestone for any Indian OEM. As a result, this extensive trial effectively showcased the Diplos scooters’ exceptional safety, reliability, and resilience across diverse terrains. Consequently, it set new benchmarks in the EV sector and is actively reshaping expectations for electric two-wheelers in India.

“This partnership with Perpetuity Capital strengthens our commitment to democratize clean mobility. With easy and affordable financing, we aim to eliminate the financial barriers that customers face when switching to EVs. With more products in pipeline for the launch in 2025, we expect a significant turnaround in retail aided by finance with this tie-up,” said S. Ramkumar, Vice President, Numeros Motors.

“We are thrilled to partner with Numeros Motors, a company that shares our vision for a greener future. Through this alliance, we aim to empower customers with financing options that are as efficient and sustainable as the vehicles they support,” said Karan Dhillon, Co-Founder, Perpetuity Capital.

The Diplos platform is built on state-of-the-art engineering and design innovation, delivering a fully connected, intuitive user experience while staying rooted in three core pillars: safety, reliability, and durability.

Numeros Motors is proactively expanding its sales and service network to improve customer accessibility and convenience. At present, the company operates in 14 cities and aims to onboard at least 100 dealers across 50 cities by the end of FY 2026–27.

Spear AI raises first funding round to bring AI to submarine data analysis

By

BRL Editor

-

July 26, 2025

0

Spear AI, a startup founded by U.S. Navy veterans, has raised its first round of external funding to help the U.S. military harness artificial intelligence for analyzing submarine data.

Based in Washington, the company focuses on passive acoustic data—information collected by underwater listening devices. Its goal is to use AI to help submarine crews distinguish between sounds such as a rain squall, a whale, or a potentially threatening vessel, while also determining the object’s location and speed.

Unlike traditional AI systems that are trained on well-labeled text or image datasets curated over years by companies like Scale AI (which recently signed a $14.8-billion deal with Meta), acoustic sensor data lacks structured labeling. Spear AI is tackling this by building a dedicated hardware and software platform to make such data AI-ready.

Michael Hunter—a former Navy SEAL analyst—and John McGunnigle—a former nuclear submarine commander—co-founded the company and are developing sensors that attach to buoys or vessels, along with software tools that label and organize acoustic data. These tools help transform raw data into formats suitable for AI analysis.

This month, the U.S. Navy awarded Spear AI a $6-million contract for its data-labeling solution. Previously self-funded, Spear AI has about 40 employees and was founded in 2021. The startup has now raised $2.3 million from AI-focused venture capital firm Cortical Ventures and private equity firm Scare the Bear.

CEO Michael Hunter said the fresh capital will help the company double its workforce to support both government contracts and emerging commercial applications like monitoring underwater pipelines and cables. Spear AI also plans to offer consulting services, adopting a model similar to that of defense tech giant Palantir.

Sahaj Retail to double its reach to 6 lakh centres nationwide

By

BRL Editor

-

July 26, 2025

0

Sahaj Retail is undertaking a major expansion to grow its presence in rural India, increasing its network from 3.2 lakh to 6 lakh retail centres. This move aims to enhance access to digital services in villages and remote regions nationwide.

The centres will offer key services such as Aadhaar updates, PAN card applications, insurance, utility bill payments, and mobile banking. Trained local individuals, known as Village Level Entrepreneurs (VLEs), will deliver these services and manage the Sahaj Centres.

“We are working across rural India and have around 3.2 lakh centres at present. The idea is to take it up to 6 lakh shortly,” said Biswajeet Chatterjee, CEO of Sahaj Retail.

Each Sahaj centre is independently owned, operated, and funded by different businesses or individuals. As a result, these centres play a vital role in their communities by providing access to essential services that are often unavailable in nearby areas.

“Owner of every centre is different and the person running each Sahaj centre becomes a change-maker in their village,” Biswajeet said.

Sahaj developed its own technology platform to function in areas with low internet connectivity, making it especially effective in remote villages with limited access.

Beyond offering basic digital services, the company now aims to transform each Sahaj centre into a digital utility hub. It is expanding into areas like e-commerce support, agricultural inputs, rural supply chain solutions, and skill development programs. This expansion will enable villagers to shop online, access farming supplies, learn new skills, and benefit from improved delivery systems.

Currently active in states like Bihar, Uttar Pradesh, West Bengal, Odisha, and parts of the North East, Sahaj now plans to strengthen its presence in central and eastern India, where many rural areas still lack digital connectivity.

A key focus for Sahaj is to empower more women and youth entrepreneurs through its Village Level Entrepreneur (VLE) model. In doing so, the company not only generates employment but also builds a broader ecosystem that fosters digital and financial literacy in rural communities.

Sahaj is among a growing number of companies recognizing the potential of the “Bharat” market—India’s vast rural population. As demand for digital services increases beyond urban areas, Sahaj is playing a pivotal role in bridging the digital divide between rural and urban India.

Lemon Tree Hotels launches Keys Select in Kufri

By

BRL Editor

-

July 26, 2025

0

Lemon Tree Hotels Limited has announced the launch of Keys Select by Lemon Tree Hotels in Kufri, Himachal Pradesh—marking its fourth property in the state.

This stylish and well-appointed hotel features 49 rooms and suites, which will be opened in two phases. In Phase I, 32 rooms and suites are now operational, along with Keys Café, a multi-cuisine restaurant, a fitness centre, an open-deck Jacuzzi, and other public areas. The remaining 17 rooms, along with a spa offering relaxing treatments, will be unveiled soon in Phase II.

Additionally, the hotel offers a spacious banquet hall and an adjacent open deck, making it an ideal venue for events and outdoor celebrations.

Indian and international tourists cherish Kufri, a well-known hill station, for its breathtaking landscapes, thrilling adventure sports, and vibrant Himachali culture reflected in local traditions and cuisine. Together with Chail and Shimla, Kufri forms the renowned Golden Triangle of Himachal Pradesh.

Himachal Tourism organizes the annual Winter Sports Festival every February, attracting large crowds and offering introductory courses for beginners. Kufri is a true paradise for nature enthusiasts and thrill-seekers, with activities such as trekking, skiing, and scenic nature walks making it a year-round destination.

Cloud software firm Amagi files for ₹1,020-Cr IPO to fuel growth

By

BRL Editor

-

July 26, 2025

0

Cloud software firm Amagi files for ₹1,020-Cr IPO to fuel growth — L-R: KA Srinivasan, Srividhya Srinivasan and Baskar Subramanian, co-founders, Amagi

Cloud software firm Amagi has submitted draft documents to the capital markets regulator to raise up to ₹1,020 crore (approximately USD 122 million) through a fresh issue of shares as part of its planned initial public offering (IPO), according to its draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI).

Amagi, a Bengaluru-based SaaS company, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise up to ₹1,020 crore (USD 122 million) through a fresh issue of shares in its proposed initial public offering (IPO).

The IPO will also feature an offer for sale (OFS) of up to 34.19 million shares by existing stakeholders, including PI Opportunities Fund I and II, Norwest Venture Partners X, Accel India VI, Accel Growth VI Holdings, Trudy Holdings, AVP I Fund, and certain individual shareholders.

Out of the net proceeds from the fresh issue, Amagi intends to allocate ₹667 crore towards strengthening its technology and cloud infrastructure. Amagi will use the remaining funds for potential acquisitions and general corporate purposes.

Founded in 2008 and headquartered in Bengaluru, Amagi offers cloud-native video distribution and monetisation solutions to broadcasters, content owners, and streaming platforms. The Cloud software company claims to serve more than 45% of the top 50 global media and entertainment companies by revenue.

Amagi is backed by prominent investors such as Accel, Norwest, Avataar Ventures, and Premji Invest. For FY25, it reported revenue from operations of ₹1,162 crore—up from ₹681 crore in FY23—reflecting a compound annual growth rate (CAGR) of 30.7%. Its adjusted EBITDA margin turned positive at 2.02% in FY25, after posting negative margins in the previous two fiscal years.

The company may also pursue a pre-IPO placement of up to ₹204 crore, which would reduce the size of the fresh issue accordingly.

Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs India, IIFL Capital, and Avendus Capital are acting as the book-running lead managers for the offering. The company plans to list its equity shares on both the BSE and NSE.

Namma Yatri launches ‘Namma Transit’ to seamlessly integrate metro, auto, and cab services

By

BRL Editor

-

July 26, 2025

0

Ride-hailing platform Namma Yatri on Friday announced the launch of a new feature aimed at making daily commutes more efficient and commuter-centric, amid a 16% surge in Bengaluru’s average travel time—now 63 minutes for a 19 km journey over the past year.

Namma Yatri has introduced a new feature called Namma Transit, which unifies Metro services, auto-rickshaws, and cabs into a single, seamless real-time navigation platform.

The feature provides real-time guidance on the nearest metro station to access, the correct platform and gate to use, and the ideal time to switch between different modes of transport. According to the mobility startup, this unified, multimodal platform is currently available to a limited set of users, with a full rollout expected within a week.

Namma Yatri’s founders, Magizhan Selvan and Shan MS, said, “Mobility should feel like magic, not a daily grind. With Namma Transit, we’ve designed every element, from booking to alerts, to make public transport the first choice. This is our contribution to a Bengaluru that moves with speed, efficiency, and trust.”

Shan also told that in the initial phase, the platform will be offering discounts and additional benefits to encourage more users and drivers to adopt the transit feature. “The idea is to make public transport more accessible and attractive, helping people experience its convenience while enjoying extra value,” he said.

With support from the Indian Institute of Science’s (IISc) Centre of Data for Public Good (CDPG), Namma Yatri will soon incorporate live BMTC data into its transit feature.

The ride-hailing platform—backed by Juspay, Blume Ventures, and Google—also unveiled a report titled ‘Made for BLR: Namma Mobility Blueprint 2030.’ Drawing inspiration from global cities like Amsterdam, Singapore, and Tokyo, the report aims to reimagine Bengaluru’s mobility landscape.

It emphasizes the importance of introducing regulations for pooling, sharing, and ride batching models, similar to those implemented in other leading cities. By 2030, the app aims to achieve a 50% reduction in emissions, reduce time lost in traffic from 117 to 57 hours, and increase the use of public transport from 48% to 70% through its recommendations and initiatives.

“It makes absolute economic sense to allow shared auto rickshaws in Bengaluru. We’ve seen the benefits of such models in so many other cities across the country, yet in Karnataka, both shared autos and carpooling remain restricted,” said Tejasvi Surya, BJP MP from Bengaluru, at the feature launch.

“As a country, we have taken to urbanisation very slowly, but the next 10 years are critical. India is urbanising at a rapid pace as more Indians will live in urban areas than in villages,” he added.

ITC to invest ₹20,000-Cr in new manufacturing units: Chairman Sanjiv Puri

By

BRL Editor

-

July 25, 2025

0

ITC to invest ₹20,000-Cr in new manufacturing units: Chairman Sanjiv Puri — Sanjiv Puri, Chairman & MD of ITC Ltd

ITC Ltd, the diversified conglomerate, plans to invest ₹20,000 crore over the medium term to expand its manufacturing capabilities across various sectors, Chairman Sanjiv Puri announced on Friday.

Addressing shareholders at the company’s AGM, Puri highlighted that ITC has already established eight new manufacturing units in recent years as part of its ongoing growth strategy.

He emphasized that the company will continue to prioritize its ‘Bharat First’ approach—strengthening its domestic footprint—before pursuing major international expansion.

Puri also pointed out that 65% of ITC’s total revenue now comes from its non-cigarette businesses.

Sanjv Puri underscored the challenges to business in current times and called for efforts to redefine growth. “We are navigating a pivotal inflection point shaped by turbulence and rapid changes that calls for novel strategies to reimagine the future.” Puri added that it is ‘imperative’ to redefine growth and adopt a new paradigm of ‘compassionate capitalism’.

“The year gone by saw challenges from a weak external sector, dumping of imports, and inflationary pressure leading to softening of demand,” Sanjiv Puri said. ITC plans to declare its June quarter results on August 1, 2025.

ITC Ltd’s planned ₹20,000 crore investment underscores its commitment to strengthening domestic manufacturing and accelerating growth beyond its traditional cigarette business. With a clear focus on the ‘Bharat First’ strategy, value-driven brand launches, and expanding its non-cigarette portfolio, the company is positioning itself for long-term, diversified growth within India’s evolving consumer landscape.

CONNECT WITH US