Knowledge Realty Trust (KRT), backed by real estate developer Sattva Group and global investment firm Blackstone, has secured ₹1,400 crore from investors ahead of its planned public listing as a Real Estate Investment Trust (REIT).
The company filed its Draft Red Herring Prospectus (DRHP) with SEBI earlier this year, outlining plans to raise approximately ₹6,200 crore through an Initial Public Offering (IPO). The funds are expected to support the listing of its REIT and facilitate the monetisation of its office assets.
According to industry sources, the ₹1,400 crore raised in the pre-IPO round came from family offices and high-net-worth individuals (HNIs). The upcoming IPO marks a significant step for KRT as it seeks to expand its portfolio and reach.
KRT’s portfolio includes 48 million sq ft of office real estate, of which 37 million sq ft is completed. These assets are spread across six major Indian cities, making it one of the most geographically diversified office REITs in the country. Around 90% of the portfolio is leased, with 76% leased to multinational corporations (MNCs) and 45% to Global Capability Centres (GCCs).
Once listed, KRT is expected to be the largest REIT in India by Net Operating Income (NOI) and Gross Asset Value, which is currently estimated at around ₹60,000 crore.
KRT will be India’s fifth listed REIT. The other four include Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust. While most of these are office-focused, Nexus primarily holds retail real estate assets.
The listing will also mark the fifth public market debut from Blackstone’s India real estate investments, which already includes stakes in three REITs and Ventive Hospitality.
The sponsors of KRT have indicated plans to grow the REIT’s portfolio through third-party acquisitions, adopting a brand-neutral approach. This signals an inorganic growth strategy to diversify further and strengthen market presence.
Sattva Group, one of the sponsors, has developed over 74 million sq ft across commercial, residential, co-living, hospitality, and data centre spaces. Another 75 million sq ft is currently under development or planning.
According to a recent report by Vestian, about 60% of India’s office stock in top metro markets is eligible for REIT conversion. The four listed REITs have distributed a total of over ₹21,000 crore to investors, underscoring the growing traction of this asset class.
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.
By Proptechbuzz
By Ravi Kumar
