Jhunjhunwala-backed Knowledge REIT makes a decent D-St debut; units list at premium
Mumbai-based Knowledge Realty Trust REIT sold its shares in the price band of Rs 95-100 apiece, which could be applied for a minimum of 150 units and its multiples to raise Rs 4,800 crore.
- Aug 18, 2025,
- Updated Aug 18, 2025 9:46 AM IST
Units of Knowledge Realty Trust REIT officially began their trading on Dalal Street from on Monday August 18 as they were listed at Rs 104 on BSE, a premium of 4 per cent over the issue price of Rs 100. Similarly, the units were listed with a premium of 3 per cent over the given issue price at Rs 103 on NSE.
Listing of Knowledge Realty Trust REIT has been on the expected lines. Ahead of list debut, Knowledge REIT was commanding a grey market premium (GMP) Rs 2 apiece, suggesting a mild listing pop for the investors. Investors have made a profit of Rs 450-600 per lot, based on the exchange.
The IPO of Mumbai-based Knowledge Realty Trust REIT was open for bidding between August 05 and August 07. It had offered its shares in the price band of Rs 95-100 per share with a lot size of 150 units. It raised a total of Rs 4,800 crore via primary offering, which was entirely a fresh sale of 48,00,00,000 units.
The issue of Knowledge Realty Trust REIT REIT saw a strong response from the investors. as it overall subscribed 13.11 times, making it India’s largest and most subscribed REIT IPO so far, fetching bids for Rs 25,952 crore. The allocation for the institutional bidders was subscribed a solid 9.55 times and the portion for non-institutional investors (NIIs) or other investors was booked 17.38 times.
Knowledge Realty Trust is the largest office REIT in India, based on gross asset value (GAV) worth Rs 61,998.9 crore as of March 31, 2025. It is also the second largest office REIT globally in terms of leasable Area. Its portfolio assets are spread across 6 cities, including Hyderabad, Mumbai, Bengaluru, Chennai, Gurugram and GIFT City, Ahmedabad.
It is backed by name like Rekha Rakesh Jhunjhunwala through Nishtha Jhunjhunwala Discretionary Trust, Aryaman Jhunjhunwala Discretionary Trust and Aryavir Jhunjhunwala Discretionary Trust, along with Life Insurance Corporation of India and seasoned domestic mutual funds.
Kotak Mahindra Capital Company is the book-running lead manager of the Knowledge Realty Trust REIT, while Kfin Technologies is the registrar for the issue. Axis Trustee Services is serving as the trustee, while Sattva Developers and BREP Asia SG L&T Holding (NQ) are the sponsors for the issue.
Units of Knowledge Realty Trust REIT officially began their trading on Dalal Street from on Monday August 18 as they were listed at Rs 104 on BSE, a premium of 4 per cent over the issue price of Rs 100. Similarly, the units were listed with a premium of 3 per cent over the given issue price at Rs 103 on NSE.
Listing of Knowledge Realty Trust REIT has been on the expected lines. Ahead of list debut, Knowledge REIT was commanding a grey market premium (GMP) Rs 2 apiece, suggesting a mild listing pop for the investors. Investors have made a profit of Rs 450-600 per lot, based on the exchange.
The IPO of Mumbai-based Knowledge Realty Trust REIT was open for bidding between August 05 and August 07. It had offered its shares in the price band of Rs 95-100 per share with a lot size of 150 units. It raised a total of Rs 4,800 crore via primary offering, which was entirely a fresh sale of 48,00,00,000 units.
The issue of Knowledge Realty Trust REIT REIT saw a strong response from the investors. as it overall subscribed 13.11 times, making it India’s largest and most subscribed REIT IPO so far, fetching bids for Rs 25,952 crore. The allocation for the institutional bidders was subscribed a solid 9.55 times and the portion for non-institutional investors (NIIs) or other investors was booked 17.38 times.
Knowledge Realty Trust is the largest office REIT in India, based on gross asset value (GAV) worth Rs 61,998.9 crore as of March 31, 2025. It is also the second largest office REIT globally in terms of leasable Area. Its portfolio assets are spread across 6 cities, including Hyderabad, Mumbai, Bengaluru, Chennai, Gurugram and GIFT City, Ahmedabad.
It is backed by name like Rekha Rakesh Jhunjhunwala through Nishtha Jhunjhunwala Discretionary Trust, Aryaman Jhunjhunwala Discretionary Trust and Aryavir Jhunjhunwala Discretionary Trust, along with Life Insurance Corporation of India and seasoned domestic mutual funds.
Kotak Mahindra Capital Company is the book-running lead manager of the Knowledge Realty Trust REIT, while Kfin Technologies is the registrar for the issue. Axis Trustee Services is serving as the trustee, while Sattva Developers and BREP Asia SG L&T Holding (NQ) are the sponsors for the issue.