Mumbai: Knowledge Realty Trust, India’s largest REIT by Gross Asset Value (“GAV”), is coming out with its IPO priced at Rs 95 to Rs 100 per unit – aggregating to Rs 4,800 crore – which will be opening on August 05, 2025 and closing on August 07, 2025 while being listed on BSE and NSE.
The Sponsors to the REIT are Sattva Developers Private Limited and BREP Asia SG L&T Holding (NQ) Pte. Ltd. (a portfolio company of Blackstone Funds). Axis Trustee Services Limited is the Trustee and Knowledge Realty Office Management Services Private Limited (formerly known as Trinity Office Management Services Private Limited) is the Manager to the REIT.
Bijay Agarwal, Managing Director, Sattva Group said: “Sattva began thirty years ago with focus on India deserving world-class office infrastructure and Knowledge Realty Trust is the culmination of that vision. Our partnership with Blackstone has been transformative—not just in scale, but in demonstrating how right collaboration creates something truly exceptional while making premium office real estate accessible to all investors.”
Expressing delight in launching Knowledge Realty Trust with long-standing partner Sattva, Asheesh Mohta, Senior Managing Director in Blackstone Real Estate said “Blackstone was an early believer in the sector, starting out in 2011 and has since become the largest owner of office in India. Knowledge Realty Trust is a testament to our conviction in the Indian office market and commitment to introducing compelling opportunities to investors.”
Knowledge Realty Trust is expected to be India’s largest REIT in terms of GAV* and NOI* upon listing. As of March 31, 2025, their portfolio includes 29 Grade A office properties spanning 46.3 msf, consisting of 37.1 msf of completed area and 9.2 msf of under construction and future development area. The assets are strategically located across six cities (Hyderabad, Mumbai, Bengaluru, Chennai, Gurugram, and GIFT City in Ahmedabad) and leased to a diverse tenant roster comprising large multinational corporations, global capability centers and leading domestic firms.
Describing the launch of Knowledge Realty Trust as a ‘significant milestone’ for India’s office sector, Shirish Godbole, Chief Executive Officer of Knowledge Realty Trust said, “It reflects the operational capabilities and strategic vision of Blackstone and Sattva in building a best-in-class platform tailored to the evolving needs of today’s tenants. We’re excited to enhance India’s growing stature as a global hub for offices and talent.”
The Lead Managers to the Issue are: Kotak Mahindra Capital Company Limited, Axis Capital Limited, BofA Securities India Limited, ICICI Securities Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), JM Financial Limited, Morgan Stanley India Company Private Limited and SBI Capital Markets Limited. Registrar to the Issue is Kfin Technologies Limited.
