Knowledge Realty Trust Receives SEBI Approval for ₹4,800 Crore REIT IPO; India’s Largest Office Portfolio Set to List Soon

Mumbai, 28 July 2025: Knowledge Realty Trust (KRT), backed by the Sattva Group and global investment major Blackstone, has secured final approval from the Securities and Exchange Board of India (SEBI) for its ₹4,800 crore Real Estate Investment Trust (REIT) initial public offering. The listing is scheduled for early August 2025, making it a significant addition to India’s growing REIT landscape.

SEBI Greenlight Clears the Way for KRT’s REIT IPO Launch in Early August

Following SEBI’s final nod, Knowledge Realty Trust is preparing to launch its much-anticipated REIT IPO in the first week of August. This offering is poised to attract both institutional and retail investors looking for stable income through rent-yielding office assets. With the approval now in hand, KRT will initiate its investor outreach program this week, and the price band announcement is expected by 30 August.

₹1,400 Crore Raised in Pre-IPO Placement Highlights Institutional Backing

Ahead of the public issue, KRT successfully raised ₹1,400 crore through a pre-IPO placement to institutional investors. This early funding round reflects market interest in the REIT’s large-scale portfolio. The capital raised will support the trust’s operational and expansion plans as it gears up for the IPO.

India’s Largest Office REIT by Asset Value to Enter the Market

With an estimated gross asset value of ₹62,000 crore, KRT is set to become the largest listed REIT in India by asset size. In FY25 alone, the trust reported a strong net operating income of ₹3,432 crore, underlining its income-generating potential.

KRT’s portfolio comprises over 46 million square feet of office space spread across 29 assets in six major cities, including premium properties such as:

• Mumbai: One BKC and One World Center
• Hyderabad: Knowledge City and Knowledge Park
• Bengaluru: Cessna Business Park and Sattva Softzone

Backed by Sattva Group and Blackstone, the REIT Aims for Strategic Growth

Post-listing, Sattva Group and Blackstone will jointly retain close to 80% ownership in KRT. The sponsors plan to pursue a brand-neutral expansion strategy, acquiring high-performing third-party assets to further scale the portfolio.

Sattva Developers, known for its delivery of over 74 million square feet across residential, commercial, co-living, hospitality, and data centre projects, has another 75 million square feet currently under planning or construction. Blackstone, a long-standing investor in Indian commercial real estate, continues to strengthen its footprint through strategic partnerships like KRT.

KRT to Join India’s Growing League of Listed REITs

The listing of Knowledge Realty Trust will mark the entry of India’s fifth REIT, expanding access to commercial office portfolios for public market investors. It will join the ranks of:

• Brookfield India Real Estate Trust
• Embassy Office Parks REIT
• Mindspace Business Parks REIT
• Nexus Select Trust

While Nexus Select Trust focuses primarily on retail assets, the others, like KRT, are built around high-yielding office portfolios. Collectively, these REITs manage over 126 million square feet of commercial space and have distributed more than ₹21,000 crore to unitholders.

Why KRT’s Upcoming Listing Matters for Investors

With its scale, diversified tenant base, and backing from established sponsors, KRT’s IPO offers investors a chance to participate in one of India’s most expansive and professionally managed office portfolios. The listing reflects growing investor appetite for structured, income-generating real estate products and underscores the evolution of India’s commercial real estate into an organised, transparent market segment.

The early August listing is expected to further energise the REIT segment, offering an alternative to traditional equity investments while providing access to high-quality commercial assets through a regulated, liquid instrument.

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