Knowledge Realty Trust Set to Launch India's Largest REIT IPO

Knowledge Realty Trust, funded by real estate giants Sattva Group and Blackstone, has announced their REIT initial public offering (IPO) with a price range of Rs 95 to Rs 100 per unit. The IPO, slated for August 5-7, seeks to raise Rs 4,800 crore, downscaled from an initial target of Rs 6,200 crore.

Pursuing a strategy to realize the value of its extensive office portfolio, KRT had earlier secured Rs 1,400 crore from investors. The intentions are to list on the stock exchange to strategically enhance its 30 prime office assets, spreading across six major Indian cities including Mumbai, Bengaluru, and Hyderabad.

With assets worth approximately Rs 62,000 crore, KRT is poised to become the largest REIT in the country. Sattva Developers, in alliance with Blackstone, continues its brand-neutral acquisition strategy, preserving an 80% stake. Currently, KRT joins the ranks of four other listed REITs in India.

(With inputs from agencies.)