Knowledge Realty Trust REIT Launches ₹4,800 Cr IPO at Price Band of ₹95-₹100 Per Share

Mumbai, 5 August 2025: Knowledge Realty Trust REIT has launched its Initial Public Offering (IPO) today, aiming to raise ₹4,800 crore through a fresh issue of 48 crore units. The IPO, which opened for bidding on 5 August 2025, will close on 7 August 2025. This marks one of the most significant listings in the Indian real estate investment trust (REIT) space this year.

IPO Price Band Set at ₹95–₹100 Per Unit, Minimum Investment Starts at ₹14,250

Knowledge Realty Trust REIT has set its price band between ₹95 and ₹100 per unit, with investors required to bid in lots of 150 units, making the minimum retail investment ₹14,250. The REIT units are expected to be listed on both BSE and NSE with a tentative listing date of 18 August 2025.

The issue is structured entirely as a fresh issue, with no offer-for-sale component. Kotak Mahindra Capital Company Limited is acting as the book-running lead manager, while Kfin Technologies Limited serves as the registrar.

IPO Structure Offers 75% to QIBs, 25% to NIIs; Retail Participation via Minimum Lot Only

The IPO is being conducted under the book-building process. The allocation is reserved as follows:

• Qualified Institutional Buyers (QIBs): Not more than 75%
• Non-Institutional Investors (NIIs): Not less than 25%

Retail investors can apply via the minimum lot size of 150 units, while specific lot size investments for sNII and bNII have not been defined.

Tentative IPO Timeline: Allotment on 12 August, Listing on 18 August

• IPO Open Date: Tuesday, 5 August 2025
• IPO Close Date: Thursday, 7 August 2025
• UPI Mandate Confirmation Cut-off: 5 PM on 7 August 2025
• Basis of Allotment: Tuesday, 12 August 2025
• Initiation of Refunds: Wednesday, 13 August 2025
• Credit of Units to Demat: Wednesday, 13 August 2025
• Tentative Listing Date: Monday, 18 August 2025

Knowledge Realty Trust Is India’s Largest Office REIT with ₹61,998.9 Cr GAV

As of 31 March 2025, Knowledge Realty Trust REIT is the largest office REIT in India in terms of Gross Asset Value (GAV) at ₹61,998.9 crore, and the second largest globally by leasable area. The REIT holds a portfolio of 30 Grade A office assets, spread across 46.3 million square feet (msf), including:

• 37.1 msf of completed area
• 1.2 msf under construction
• 8.0 msf for future development

The assets are geographically spread across six major Indian cities: Hyderabad, Mumbai, Bengaluru, Chennai, Gurugram, and GIFT City, Ahmedabad. The portfolio includes 6 city-centre office spaces and 24 business parks, with a committed occupancy rate of 91.4% as of 31 March 2025.

Amenities across properties include multi-cuisine food courts, sports facilities, members-only clubs, medical clinics, creches, and other wellness features. The tenant base is diversified, featuring Fortune 500 companies, Global Capability Centers (GCCs), and prominent Indian corporates.

Company Financials Show Revenue Growth of 16% in FY25; PAT Drops 34%

For the financial year ending 31 March 2025, Knowledge Realty Trust reported total income of ₹4,146.86 crore, reflecting a 16% growth compared to the previous year’s ₹3,588.48 crore. However, profit after tax (PAT) stood at ₹222.52 crore, down 34% from ₹339.66 crore in FY24. EBITDA rose from ₹2,830.36 crore in FY24 to ₹3,293.03 crore in FY25. The total borrowings remained largely stable at ₹19,792.17 crore compared to ₹19,757.58 crore a year earlier. The total assets stood at ₹24,768.08 crore as of 31 March 2025.

IPO Proceeds to Be Utilised for Debt Repayment of ₹4,640 Cr and Other Purposes

Knowledge Realty Trust REIT intends to use the net proceeds from the IPO for the following objectives:

• ₹4,640 crore will go toward partial or full repayment or prepayment of certain borrowings of its Asset Special Purpose Vehicles (SPVs) and Investment Entities
• The remaining funds will be used for general corporate purposes

Backed by Blackstone and Sattva, Knowledge Realty REIT Targets Growth in Tier-1 Cities

The REIT benefits from the backing of renowned sponsors Blackstone and Sattva, combining global investment expertise with local market knowledge. With a portfolio deeply embedded in India’s top-performing office markets, Knowledge Realty Trust REIT plans to continue leveraging its strong tenant relationships and high-quality infrastructure to drive growth and stable cash flows.

REF:https://nsearchives.nseindia.com/content/ipo/ANCHOR_KRT.zip

https://nsearchives.nseindia.com/content/ipo/RHP_KRT.zip

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