Price Band fixed at ₹95 to ₹100 per Unit
Bid/Issue Opening Date – Tuesday, August 05, 2025 and Bid/Issue Closing Date – Thursday, August 07, 2025
Anchor Date - The Anchor Investor Bidding Date is one working day prior to bid/offer opening date, being Monday, August 04, 2025
The minimum bid size is ₹15,000, the minimum investment amount. Bids can be made for a minimum of 150 Units and in multiples of 150 Units thereafter by bidders other than Anchor Investors and Strategic Investors
Mumbai, July 30, 2025: Knowledge Realty Trust (“REIT”), India’s largest REIT by Gross Asset Value (“GAV”)* and most geographically diverse office REIT upon listing, has fixed the price band for the Issue at ₹95 to ₹100 per Unit.
The Bid/Issue opens Tuesday, August 05, 2025 and closes Thursday, August 07, 2025. The minimum bid size is ₹15,000, the minimum investment amount. Bids can be made for a minimum of 150 Units and in multiples of 150 Units thereafter by bidders other than Anchor Investors and Strategic Investors.
This comprises a fresh issuance of Units up to ₹4,800 crore by the Knowledge Realty Trust (the “Issue”). 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.
The Sponsors to the REIT are Sattva Developers Private Limited and BREP Asia SG L&T Holding (NQ) Pte. Ltd. (a portfolio company of Blackstone Funds). 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 REIT.
Bijay Agarwal, Managing Director, Sattva Group said: “Over thirty years ago, we started Sattva believing India deserved world-class office infrastructure. Knowledge Realty Trust is the culmination of that vision. Our partnership with Blackstone has been transformative—not just in scale, but in demonstrating how the right collaboration can create something truly exceptional while making premium office real estate accessible to all investors.”
Asheesh Mohta, Senior Managing Director in Blackstone Real Estate said: We are thrilled to launch Knowledge Realty Trust with our long-standing partner Sattva. Blackstone was an early believer in the sector, starting out in 2011 and has since become the largest owner of office in India. Knowledge Realty Trust is a testament to our conviction in the Indian office market and commitment to introducing compelling opportunities to investors”.
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 of under construction and future development area. 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.
Shirish Godbole, Chief Executive Officer of Knowledge Realty Trust said: "The launch of Knowledge Realty Trust is a significant milestone for India’s office sector. It reflects the operational capabilities and strategic vision of Blackstone and Sattva in building a best-in-class platform tailored to the evolving needs of today’s tenants. We’re excited to enhance India’s growing stature as a global hub for offices and talent."
Lead Managers to the Issue are Kotak Mahindra Capital Company Limited, Axis Capital Limited, BofA Securities India Limited, ICICI Securities Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), JM Financial Limited, Morgan Stanley India Company Private Limited and SBI Capital Markets Limited. Registrar to the Issue is Kfin Technologies Limited. The Units are proposed to be listed on BSE Limited and National Stock Exchange of India Limited
*As of March 31, 2025; For the year ended Mar’25
Disclaimers
Knowledge Realty Trust, acting through its Manager, is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its units and has filed the Offer Document with SEBI and the Stock Exchanges on July 29, 2025. The Offer Document is available on the website of the SEBI at www.sebi.gov.in, the websites of the stock exchange, at www.nse-india.com/ www.bseindia.com, as well as on the websites of the Lead Managers, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Axis Capital Limited, BofA Securities India Limited, ICICI Securities Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), JM Financial Limited and SBI Capital Markets Limited, respectively. Investors should note that investment in units may involve risks and for details relating to such risks, prospective investors should carefully read the offer document, including sections entitled “Risk Factors” and “Forward-Looking Statements”. Prospective investors should not rely on the draft offer document filed with the Securities and Exchange Board of India and stock exchanges in making any investment decision.
The Units have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction. The Units have not been and will not be registered under the US Securities Act of 1933 (“U.S. Securities Act”) or any state securities laws in the United States and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in accordance with any applicable United States state securities laws.
SEBI Disclaimer: It is to be distinctly understood that submission of the Draft Offer Document, this Offer Document or the Final Offer Document to SEBI should not in any way be deemed or construed that the same has been cleared or approved by SEBI. SEBI does not take any responsibility either for the financial soundness of any scheme or the project for which the Issue is proposed to be made or for the correctness of the statements made or opinions expressed in the Draft Offer Document, this Offer Document or the Final Offer Document.
NSE Disclaimer: It is distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Offer Document for the full text of the Disclaimer clause of the NSE.
BSE Disclaimer: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the Offer Document has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Offer Document for the full text of the Disclaimer clause of the BSE.
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