KRT assets are located across Hyderabad, Mumbai, Bengaluru, Chennai, Gurugram, and GIFT City in Ahmedabad.
MUMBAI, Aug 5 (The CONNECT)- The REIT Initial Public Offering of Knowledge Realty Trust was fully subscribed today, the first day of bidding.
The issue received bids of 25,39,67,550 shares against the offered 20,84,20,800 equity shares, at a price band of ₹95-100, according to the data available on the stock exchanges. Overall the issue was subscribed 1.22 times.
Other Investor Portion and Institutional Investors Portion were subscribed 1.78 times and 0.75 times respectively.
The issue will close on Thursday (August 07, 2025). The price band for the Offer is Rs 95 – Rs 100 per equity share the minimum bid size being is ₹15,000.
Knowledge Realty Trust REIT garnered Rs. 1,620 crores from anchor investors and a strategic allocation of Rs. 1,200 Cr. Some of the marquee Institutions that participated in the Anchor are – LIC, Tata AIG, Nippon MF, Axis MF, Tata MF, FT MF, Amundi, Wells Capital, PIMCO, SBI Pension, Jhunjhunwala Trust, and 360 One. The Strategic allocation includes – LIC, SBI Life, UTI MF, HDFC Life, Kotak Life, 360 One among others.
Prior to this, the company had raised Rs 1,400 crores in a pre-IPO round.
Leading brokerage firms like Geojit Securities, Ventura Securities, Jainam Broking and Marwadi Financial Services have given a “Subscribe” rating to the issue highlighting the company’s experienced sponsors and management, strong geographic diversification, high-quality tenant base, projected Net Operating Income (NOI) growth of ~19% over FY26–28E, potential for capital appreciation, attractive dividend yield ( 6% -7%) and a healthy balance sheet with a low loan-to-value (LTV) ratio.
The proceeds from the issue to the extend Rs. 4,640 crores are proposed to be used in partial or full repayment or prepayment of certain financial indebtedness of the Asset SPVs and the Investment Entities and rest for general corporate purposes.
The Sponsors to the issue are Sattva Developers Private Limited and BREP Asia SG L&T Holding (NQ) Pte. Ltd. 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 issue.
The IPO comprises of fresh issuance of Units up to ₹4,800 crore by the Knowledge Realty Trust. This Issue is being made through the Book Building Process and in compliance with the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014 (“REIT Regulations”) and the REIT Master Circular dated July 11, 2025, wherein not more than 75% of the Issue (excluding the Strategic Investor portion) shall be available for allocation on a proportionate basis to Institutional Investors and not less than 25% of the Issue (excluding the Strategic Investor portion) shall be available for allocation to Non-Institutional Investors, in accordance with the REIT Regulations.
Company Information
Knowledge Realty Trust is expected to be India’s largest REIT in terms of GAV* and NOI*, upon listing. As of March 31, 2025, the portfolio includes 29 Grade A office properties spanning 46.3 msf, consisting of 37.1 msf of completed area and 9.2 msf under construction and future development. 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.
