Knowledge Realty Trust's Rs 4,800 crore REIT IPO set to open on August 5; details here

Knowledge Realty Trust, sponsored by Blackstone and Sattva Group, is launching its Rs 4,800 crore REIT initial public offering (IPO) on August 5, 2025. The IPO is priced between Rs 95 and Rs 100 and concludes on August 7, 2025. The REIT, the largest in India and the second in Asia, boasts a gross asset value of Rs 62,000 crore.

The minimum investment is set at Rs 15,000, with bids available for a minimum of 150 units. This offering follows the Book Building Process under the Securities and Exchange Board of India's (Sebi's) norms, with 75 per cent allocation for institutional investors and 25 per cent for non-institutional investors.

In June, the REIT raised Rs 1,400 crore through a pre-IPO placement, reflecting strong investor interest and confidence in the offering. The IPO funds will primarily repay debts associated with asset special-purpose vehicles and investment entities, aiming to strengthen the financial stability of the REIT.

The REIT's portfolio includes 29 assets in cities like Mumbai and Hyderabad, with a leasable area of 46 million square feet. It owns properties 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. These properties are strategically located, offering significant revenue potential and growth opportunities.

On the financial front, the REIT reported a profit of Rs 222.5 crore for fiscal 2025, declining 34.5 per cent due to a loss of Rs 350.2 crore. However, revenue grew by 15.8 per cent to Rs 3,930.1 crore compared to the previous fiscal period.

The IPO is managed by a consortium of bankers including Kotak Mahindra Capital Company and Morgan Stanley India Company, among others, ensuring a well-coordinated launch.