Dalal Street to Welcome Sixth REIT: Knowledge Realty Trust IPO Launches on August 5
Knowledge Realty Trust (KRT), backed by Sattva Group and Blackstone, is set to launch its Rs 4,800 crore REIT IPO on August 5, becoming the sixth REIT on Dalal Street. The IPO will offer units in the price band of Rs 95–Rs 100 per unit.
ReitIpoKnowledge Realty TrustReal EstateDalal StreetReal Estate NewsJul 30, 2025
This is the sixth REIT headed to Dalal Street. Currently, there are four REITs in the country's listed space: Embassy Office Parks REIT, Mindspace Business Parks REIT, Brookfield India Real Estate Trust REIT, and Nexus Select Trust. PropShare Titania is likely to list on the bourses tentatively on August 4.
The price band for the IPO has been fixed at Rs 95–Rs 100 per unit. This REIT offering consists entirely of a fresh issue of units worth Rs 4,800 crore and is being made under the book-building process in accordance with SEBI REIT regulations. The minimum investment for retail investors is Rs 15,000, with a lot size of 150 units and bids in multiples thereafter.
KRT’s properties include marquee assets such as One BKC and One World Center in Mumbai, Cessna Business Park and Sattva Softzone in Bengaluru, and Knowledge City and Knowledge Park in Hyderabad. The REIT has a diverse tenant base including large multinational corporations, global capability centers, and leading domestic firms. Its net operating income stood at Rs 3,432 crore in FY25.
Initially, KRT had planned a Rs 6,200 crore issue but raised Rs 1,400 crore from anchor investors last month, bringing the IPO size to Rs 4,800 crore. Blackstone and Sattva will continue to jointly own around 80 per cent of the REIT post-listing. KRT’s entry further strengthens India’s REIT landscape, which now manages over 126 million sq ft of rent-yielding real estate and has distributed more than Rs 21,000 crore to unitholders so far.
The IPO allocation will reserve up to 75 per cent for institutional investors and a minimum of 25 per cent for non-institutional investors, excluding the strategic investor portion.
Kotak Mahindra Capital, Axis Capital, BofA Securities, ICICI Securities, IIFL Capital, JM Financial, Morgan Stanley, and SBI Capital Markets are the lead managers to the issue. KFin Technologies is the registrar.
Knowledge Realty Trust claims to become the country’s largest Real Estate Investment Trust (REIT) in terms of Gross Asset Value (around Rs 62,000 crore) upon listing. As of March 31, 2025, its portfolio includes 29 top-grade office properties spread across six major Indian cities — Mumbai, Bengaluru, Hyderabad, Gurugram, Chennai, and GIFT City in Ahmedabad. Altogether, the REIT covers over 46.3 million square feet, out of which 37.1 million sq ft is already complete, while the rest is either under construction or in the pipeline.
According to its draft red herring prospectus (DRHP) filed with Sebi, The trust, backed by sponsors Sattva and Blackstone, plans to use the funds to monetise premium office spaces and fuel future expansion. With a brand-neutral approach and a strategy focused on acquiring third-party assets, KRT is positioning itself as a key player in strengthening India’s image as a global business hub.
Frequently Asked Questions
What is the IPO size for Knowledge Realty Trust (KRT)?
The IPO size for Knowledge Realty Trust (KRT) is Rs 4,800 crore.
When is the IPO opening and closing date for KRT?
The IPO opening date for KRT is August 5, and the closing date is August 7.
What is the price band for KRT's IPO?
The price band for KRT's IPO is Rs 95–Rs 100 per unit.
How much of the REIT will Blackstone and Sattva own post-listing?
Blackstone and Sattva will continue to jointly own around 80 per cent of the REIT post-listing.
What is the minimum investment required for retail investors in KRT's IPO?
The minimum investment required for retail investors in KRT's IPO is Rs 15,000, with a lot size of 150 units.
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