Knowledge Realty Trust: Paving the Way for India's Largest REIT Launch

Knowledge Realty Trust, backed by Sattva Group and Blackstone, has raised Rs 1,400 crore prior to its REIT IPO for Rs 6,200 crore. Expected to be India's largest REIT by Net Operating Income and Gross Asset Value, KRT's portfolio includes 30 prime office assets across six major cities.

Knowledge Realty Trust (KRT), supported by real estate mogul Sattva Group and investment giant Blackstone, has successfully secured Rs 1,400 crore from investors before its debut into the public market. This preemptive funding round forms part of an aggressive strategy to launch a Rs 6,200 crore Initial Public Offering (IPO) and subsequently list the Real Estate Investment Trust (REIT) on stock exchanges.

KRT aims to harness its extensive portfolio of 30 premium office assets, strategically located across six major Indian cities, marking it as the most geographically diverse office REIT in the country. The Trust will stand as India's largest REIT in terms of Net Operating Income (NOI) and Gross Asset Value (GAV), estimated at a staggering Rs 60,000 crore.

This new addition brings the total number of listed REITs in India to five, joining other key players like Brookfield India Real Estate Trust and Embassy Office Parks REIT. Reflecting their sponsors' broad-based strategies, KRT will pursue a brand-neutral strategy to achieve growth through third-party acquisitions, leaning on Blackstone's profound real estate market footprint in India.

(With inputs from agencies.)