Knowledge Realty Trust REIT IPO opens today: Check all details, GMP & more

The initial public offering (IPO) of Knowledge Realty Trust REIT shall open for bidding on Tuesday, August 05. The company shall be selling its units in the range of Rs 95-100 apiece. Investors can apply for a minimum of 150 units and its multiples thereafter. The issue shall conclude for bidding on Thursday, August 07.

The offering of Knowledge Realty Trust REIT includes a sale of 48,00,00,000 units worth Rs 4,800 crore at the upper end of the price band. The net proceeds from the issue shall be utilized towards partial or full repayment or prepayment of certain financial indebtedness of the Asset SPVs and the investment entities and general purposes.

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. 

Knowledge Realty Trust raised Rs 1,620 crore from several domestic and global institutional investors via anchor book ahead of IPO as it finnalised allocation of 16.2 crore units to anchor investors at Rs 100 per unit. This was in addition to Rs 1,200 crore amount mobilised through strategic investors.

Marquee global names like Amundi Funds, Florida Retirement System, Tocu Europe, Morgan Stanley, Barclays Multi-Manager Fund, Societe Generale, BofA Securities Europe, , Jhunjhunwala Discretionary Trust, Citigroup Global invested along with a several insurance company and mutual funds participated in the REIT via anchor book.

Knowledge Realty Trust REIT's portfolio comprises 30 Grade A office assets totalling 46.3 msf as of March 31, 2025, 37.1 msf of completed area, 1.2 msf of under construction area and 8.0 msf of future development area. It has a committed occupancy of 91.4 per cent as of March 31, 2025. It has a diversified tenant mix of prominent multinational tenants.

For the financial year ended on March 31, 2025, Knowledge Realty Trust REIT reported a net profit of Rs 222.52 crore with a revenue of Rs 4,146.86 crore. It clocked a net profit of Rs 339.66 crore with a revenue of Rs 4,588.48 crore for the financial year 2023-24. 

It has reserved 75 per cent of units for qualified institutional bidders, while other investors will get 25 per cent of allocations in the issue. All investors can apply for a minimum of one lot consisting of 100 units. The issue was commanding no grey market premium ahead of kicking-off.

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 shall be listed on both BSE and NSE with August 18 as the tentative date of listing.