Blackstone and Sattva group sponsored real estate investment trust Knowledge Realty’s ₹4,800-crore IPO has been greenlighted by Securities and Exchange Board of India Trust and is set to open on August 5.
It will be the second largest REIT in Asia and India’s largest based on its gross asset value of ₹62,000 crore, according to the prospectus filed with the regulator.
Pre-IPO placement
In June, the REIT had raised ₹1,400 crore in a pre-IPO placement and investment banking sources said that there was strong investor interest in it.
A significant portion of the funds being raised will be used to repay debts of the asset special purpose vehicles and the investment entities.
Asset base
The REIT has a portfolio of 29 assets with a total leasable area of 46 million square feet, spread across 6 cities and over 450 tenants.
It owns 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.
It will be the fifth REIT in India and the fourth office-based REIT in the country.
The four listed REITs – Embassy Office Parks, Mindspace Business Parks, Brookfield India Real Estate and Nexus Select Trust – together had a portfolio of 129 msf in FY25 and had assets under management of over ₹1.63 lakh crore.
The first REIT in India was launched in 2019 and the four REITs together have cumulatively distributed over ₹22,800 crore to their unitholders.
Published on July 28, 2025