CAM Advises on INR 1400 Crore Pre-IPO Funding for Knowledge Realty REIT
Cyril Amarchand Mangaldas (CAM) advised Blackstone and Cessna Garden Developers on a significant pre-IPO funding round for Knowledge Realty REIT, raising INR 1400 crore. The investment aimed to consolidate commercial office spaces across India and strengthen the REIT's financial position before its successful listing on the BSE and NSE.
Real EstatePreipoFundingReitCyril Amarchand MangaldasReal EstateSep 02, 2025
The Company, which owns certain real estate assets, was fully acquired by Knowledge Realty Trust (REIT) as a special purpose vehicle. In this acquisition, existing shareholders, including the Subscribers, received REIT units in exchange for their shareholding in the Company. To facilitate this complex transaction, CAM provided comprehensive legal advice, including the negotiation and execution of two share purchase agreements between Axis Trustee Services Limited and Knowledge Realty Office Management Services Private Limited, acting on behalf of the REIT, and the Subscribers.
Additionally, escrow agreements were executed to ensure the smooth transfer of equity shares issued upon the conversion of the Warrant Shares to the REIT. KFin Technologies Limited acted as the escrow agent, adding a layer of security and transparency to the process.
The investment was a pivotal element in the REIT’s pre-IPO capital raise. It aimed to consolidate real estate assets, specifically commercial office spaces, across India and to bolster the REIT's financial position. The REIT was successfully listed on the BSE and the NSE on August 18, 2025, marking a significant milestone in its growth and development.
The transaction was led by Reeba Chacko, Senior Partner, and Mohit Gogia, Partner, with support from a team of experienced associates, including Varsha Nair, Anisha Dash, Aashna Gupta, Muskaan Garg, and Swathi Kathi. Pranav Sharma and Okram Singha, both Partners, along with Anmol Bhargava and Jay Shah, advised on the banking aspects of the transaction. Emil Joseph, Partner, with Amrita Dubey, Senior Associate, provided guidance on the general corporate aspects. Yash Ashar, Senior Partner, and Janhavi Manohar, Partner, supported by Subham Jain and Adwait Deshmukh, handled the capital markets part of the transaction.
This strategic funding round not only enhanced the REIT's portfolio of commercial properties but also positioned it strongly for future growth and expansion. The successful listing on the BSE and NSE is a testament to the meticulous planning and execution of the transaction, underpinned by the expert legal advice provided by CAM.
Frequently Asked Questions
What is the significance of the INR 1400 crore pre-IPO funding for Knowledge Realty REIT?
The INR 1400 crore pre-IPO funding was crucial for consolidating real estate assets, specifically commercial office spaces, across India and strengthening the REIT's financial position before its successful listing on the BSE and NSE.
Who advised Blackstone and Cessna Garden Developers on this funding round?
Cyril Amarchand Mangaldas (CAM) advised Blackstone and Cessna Garden Developers on the pre-IPO funding round for Knowledge Realty REIT.
What role did the escrow agreements play in the transaction?
The escrow agreements, executed with KFin Technologies Limited as the escrow agent, ensured the smooth and secure transfer of equity shares issued upon the conversion of the Warrant Shares to the REIT.
What were the key components of the transaction advised by CAM?
CAM advised on the issuance of share warrants, share purchase agreements, escrow agreements, and the overall legal and financial structuring of the transaction.
What was the outcome of the pre-IPO funding for Knowledge Realty REIT?
The pre-IPO funding successfully consolidated real estate assets and strengthened the REIT's financial position, leading to its successful listing on the BSE and NSE on August 18, 2025.
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