KRT REIT Secures Sebi Approval for Landmark Rs 4,800 Crore IPO

Knowledge Realty Trust (KRT), a pioneering Real Estate Investment Trust (REIT) backed by Sattva Group and Blackstone, has received the green light from the Securities and Exchange Board of India (Sebi) for its ambitious Rs 4,800-crore initial public offering. Slated for an early August debut, this move marks a significant milestone in India's real estate sector.

Pre-IPO Funding and Strategic Assets

Ahead of its public offering, KRT has successfully raised Rs 1,400 crore from institutional investors, showcasing strong market confidence. The REIT's portfolio boasts over 46 million sq ft of premium office spaces across Mumbai, Bengaluru, and Hyderabad, including iconic properties like One BKC and Knowledge City.

Market Impact and Future Prospects

Post-listing, KRT is poised to become India's largest REIT by gross asset value, estimated at Rs 62,000 crore. With a net operating income of Rs 3,432 crore in FY24, KRT's strategic focus on inorganic growth and third-party acquisitions signals a robust expansion plan.

India's REIT Landscape

Currently, India hosts four REITs, with KRT set to join the ranks. Unlike its peers, KRT's diverse asset base and the backing of Sattva Group and Blackstone position it uniquely for long-term success in the evolving real estate investment domain.