Knowledge Realty Trust Secures SEBI Approval for Rs 4,800 Crore REIT IPO
Knowledge Realty Trust (KRT), backed by Sattva Group and Blackstone, has received SEBI's nod to launch a Rs 4,800 crore REIT IPO, making it India’s largest REIT by gross asset value.
Reit IpoSebi ApprovalKnowledge Realty TrustSattva GroupBlackstoneReal EstateJul 28, 2025
Prior to the SEBI nod, KRT had already raised Rs 1,400 crore from anchor investors, bringing the total expected capital to Rs 6,200 crore. The company is set to begin its roadshow this week, with the price band announcement likely on August 30.
The REIT aims to monetise a portfolio of 30 high-quality office assets spread across major Indian cities, including Mumbai, Bengaluru, and Hyderabad. These include marquee 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.
Once listed, Knowledge Realty Trust will become India’s largest REIT by gross asset value, estimated at around Rs 62,000 crore. The trust owns more than 46 million sq ft of office space across 29 assets in six major cities. In FY24, KRT reported a net operating income of Rs 3,432 crore.
Blackstone and Sattva will jointly retain approximately 80% ownership in the REIT post-listing. The sponsors have opted for a brand-neutral strategy to facilitate future growth through third-party acquisitions.
KRT will join four existing listed REITs in India: Brookfield India REIT, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust. Among these, Nexus is the only one with a retail-focused portfolio, while the others are office-asset backed.
Bengaluru-based Sattva Group, a diversified real estate developer, has completed over 74 million sq ft of construction and has another 75 million sq ft in various stages of planning and execution. Partner Blackstone continues to expand its footprint in Indian real estate, further strengthening KRT's growth potential.
With this listing, the REIT market in India is poised for further expansion, offering institutional and retail investors access to high-quality commercial real estate backed by strong income potential.
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 earn a share of the income produced through commercial real estate ownership without actually having to go out and buy or manage a property.
Who are the sponsors of Knowledge Realty Trust (KRT)?
The sponsors of Knowledge Realty Trust (KRT) are Sattva Group, a major real estate developer, and Blackstone, a global investment firm.
How much capital is KRT expected to raise through its REIT IPO?
KRT is expected to raise Rs 4,800 crore through its REIT IPO, with an additional Rs 1,400 crore already raised from anchor investors, bringing the total expected capital to Rs 6,200 crore.
What is the significance of KRT's listing in the Indian REIT market?
KRT's listing is significant because it will become India’s largest REIT by gross asset value, estimated at around Rs 62,000 crore, and it will offer institutional and retail investors access to high-quality commercial real estate backed by strong income potential.
What strategy is KRT adopting for future growth?
KRT has adopted a brand-neutral strategy to facilitate future growth through third-party acquisitions, allowing for flexibility and expansion in the real estate market.
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