Blackstone-backed KRT gets SEBI's approval for ₹4,800cr REIT IPO
28 Jul 2025

Knowledge Realty Trust (KRT), backed by realty firm Sattva Group and global investment giant Blackstone, has received approval from the Securities and Exchange Board of India (SEBI) to launch its Real Estate Investment Trust (REIT) public offering.

The company aims to raise ₹4,800 crore through this move.

The funds will be used to monetize 30 prime office assets in major cities across India.

Launching India's largest REIT
Growth trajectory

KRT plans to hit the capital markets in early August. The company has already raised ₹1,400 crore from investors ahead of its maiden REIT public issue.

Once launched, KRT will be India's largest REIT by gross asset value (GAV) of around ₹62,000 crore.

The company's net operating income for the last fiscal year was reported at ₹3,432 crore.

KRT's asset portfolio
Asset details

KRT boasts over 46 million square feet of office assets spread across 29 properties in six cities, mainly Mumbai, Bengaluru, and Hyderabad.

Some of its key assets include One BKC and One World Center in Mumbai; Knowledge City and Knowledge Park in Hyderabad; Cessna Business Park and Sattva Softzone in Bengaluru.

Blackstone and Sattva will continue to hold about an 80% stake in the REIT post-offering.

Price band announcement on August 30
Market approach

KRT will kick off its roadshow this week with the price band likely to be announced on August 30.

The company has opted for a brand-neutral strategy to grow its portfolio through third-party acquisitions.

This comes as part of a broader plan by Blackstone and Sattva, who have both invested heavily in the Indian real estate market.