Big news for Indian real estate! Knowledge Realty Trust (KRT)—a Real Estate Investment Trust (REIT) backed by Bengaluru-based Sattva Group and global investment giant Blackstone—has got the final nod from Securities and Exchange Board of India (SEBI) to launch its INR 4,800 crore REIT IPO. The listing is expected to happen by August 2025 and will be India’s largest REIT by gross asset value at INR 62,000 crore.
📌A Big Deal in Indian REITs
The SEBI approval means KRT will join the small but growing club of listed REITs in India— Brookfield India REIT, Embassy Office Parks REIT, Mindspace Business Parks REIT and Nexus Select Trust. Unlike Nexus, which focuses on retail real estate, KRT has a robust portfolio of income-generating Grade-A office assets, making it a great play for income-focused investors.
KRT REIT IPO will raise INR 4,800 crore from public investors after a successful INR 1,400 crore pre-IPO placement to institutional investors last month. This early traction shows robust demand and institutional confidence in KRT’s asset quality and management.
India’s Largest Office REIT: A Look into the Portfolio
KRT has a portfolio of over 46 million square feet of premium office space across 29 assets in 6 cities, making it the largest office REIT in India. Some of its flagship assets are:
- Mumbai: One BKC, One World Centre
- Hyderabad: Knowledge City, Knowledge Park
- Bengaluru: Cessna Business Park, Sattva Softzone
- Also includes assets in Chennai and Pune
This diversified portfolio is designed to generate stable rental income with a diversified tenant base from sectors like technology, financial services and consulting.
In FY25, Knowledge Realty Trust reported a net operating income (NOI) of INR 3,432 crore, underlining its strong revenue-generating capabilities.
💼 Backed by Industry Giants: Sattva and Blackstone
KRT benefits from the combined real estate acumen of Sattva Group and Blackstone:
- Sattva Group has delivered over 74 million square feet of built-up space and has 75 million square feet under planning or construction across residential, commercial, co-living, data centres, and hospitality projects.
- Blackstone, a global investment titan, is among the most active foreign investors in Indian commercial real estate and brings deep capital markets expertise.
Post-listing, the sponsors will retain a combined ~80% stake in the trust, ensuring long-term alignment of interests.
📊 Strategic Growth Plans & Market Outlook
Knowledge Realty Trust is adopting a brand-neutral acquisition strategy, enabling it to inorganically expand its portfolio by acquiring high-performing third-party assets. This approach reflects the REIT’s ambition to scale rapidly while remaining agnostic to developer branding.
The Knowledge Realty Trust REIT IPO roadshow is set to begin this week, with the price band announcement slated for 30 August 2025. The listing is expected to energise market interest in REITs, which have cumulatively distributed over INR 21,000 crore to unitholders since the sector opened up to public investment.
💡 What This Means for Investors
Knowledge Realty Trust IPO offers retail and institutional investors an opportunity to invest in professionally managed, income-yielding commercial real estate via a regulated and liquid structure. Its scale, sponsor credibility, and diversified portfolio offer a compelling alternative to traditional equities and fixed-income products.
This launch also highlights the evolution of India’s real estate market from opaque private transactions to transparent, institutional-grade investment vehicles. As the fifth REIT to list in India, KRT strengthens the public market ecosystem for real estate, helping channel long-term capital into urban infrastructure.
Conclusion
The SEBI nod for Knowledge Realty Trust’s INR 4,800 crore IPO marks a pivotal moment for India’s commercial real estate sector. As the country’s largest office REIT by asset value, KRT is not just setting records—it’s setting the stage for a new era of accessible, income-generating real estate investment in India’s capital markets.
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