Blackstone-Backed KRT Secures SEBI Approval for ₹4,800 Crore REIT IPO
Knowledge Realty Trust (KRT), backed by Sattva Group and Blackstone, has received SEBI approval to launch its REIT IPO. The company aims to raise ₹4,800 crore to monetize prime office assets in major Indian cities.
ReitKrtBlackstoneSattva GroupSebiReal Estate MumbaiJul 28, 2025
KRT plans to hit the capital markets in early August. The company has already raised ₹1,400 crore from investors ahead of its maiden REIT public issue. Once launched, KRT will be India's largest REIT by gross asset value (GAV) of around ₹62,000 crore. The company's net operating income for the last fiscal year was reported at ₹3,432 crore.
KRT boasts over 46 million square feet of office assets spread across 29 properties in six cities, mainly Mumbai, Bengaluru, and Hyderabad. Some of its key assets include One BKC and One World Center in Mumbai; Knowledge City and Knowledge Park in Hyderabad; Cessna Business Park and Sattva Softzone in Bengaluru. Blackstone and Sattva will continue to hold about an 80% stake in the REIT post-offering.
KRT will kick off its roadshow this week with the price band likely to be announced on August 30. The company has opted for a brand-neutral strategy to grow its portfolio through third-party acquisitions. This comes as part of a broader plan by Blackstone and Sattva, who have both invested heavily in the Indian real estate market.
The approval from SEBI marks a significant milestone for KRT and underscores the growing interest in the Indian real estate market. The REIT structure allows investors to participate in the income generated by these prime office assets, providing a stable and potentially lucrative investment opportunity. KRT's strategic focus on major metropolitan areas and its robust asset portfolio position it well to capitalize on the ongoing economic recovery and the increasing demand for high-quality office spaces.
Frequently Asked Questions
What is a Real Estate Investment Trust (REIT)?
A Real Estate Investment Trust (REIT) is a company that owns, operates, or finances income-generating real estate. REITs allow investors to purchase shares in a portfolio of properties, providing a way to invest in real estate without directly owning or managing the properties.
How much does KRT aim to raise through its REIT IPO?
KRT aims to raise ₹4,800 crore through its Real Estate Investment Trust (REIT) initial public offering (IPO).
What cities does KRT's asset portfolio cover?
KRT's asset portfolio covers six major cities in India, primarily Mumbai, Bengaluru, and Hyderabad. The company owns over 46 million square feet of office assets spread across 29 properties in these cities.
When is KRT's REIT IPO expected to launch?
KRT plans to launch its REIT IPO in early August. The roadshow will kick off this week, and the price band is expected to be announced on August 30.
What is the current stake of Blackstone and Sattva in KRT?
Blackstone and Sattva will continue to hold about an 80% stake in KRT post-offering.
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