Knowledge Realty Trust IPO: A New Chapter in Indian REIT Market

Knowledge Realty Trust is gearing up to make waves in the Indian financial landscape with its upcoming public issue. The real estate investment trust (REIT), buoyed by a 19% increase in net operating income to Rs 3,432.26 crore, is expected to capture significant investor interest.

The REIT, backed by prominent sponsors Sattva Group and Blackstone, plans to launch its initial public offering (IPO) from August 5 to August 7, pricing each unit between Rs 95 and Rs 100. The move is set to bolster its strategy to monetize 30 prime office assets located across major Indian cities.

Initially targeting Rs 6,200 crore, the company has recalibrated the offering down to Rs 4,800 crore after securing Rs 1,400 crore from investors last month. Upon listing, Knowledge Realty Trust aims to secure its place as India's largest office REIT in terms of gross asset value and net operating income by FY 2025.

(With inputs from agencies.)