Knowledge Realty Trust REIT IPO Day 1: Check Subscription Status, GMP Today
Knowledge Realty Trust is set to become India's largest REIT by gross asset value (around Rs 62,000 crore) and its net operating income stood at Rs 3,432 crore in FY25.
Knowledge Realty Trust REIT IPO Day 1: The initial public offering of Knowledge Realty Trust, sponsored by realty firm Sattva Group and Blackstone, opened on Tuesday, August 5. The Rs 4,800-crore issue, whose price has been fixed in the range of Rs 95 to Rs 100 per share, will be closed on August 7. Till 11:10 am on the first day of bidding, the IPO has received a 2% subscription, garnering bids for 47,23,200 shares as against the 20,84,20,800 shares on offer.
The grey market premium (GMP) of the IPO remains zero, indicating flat or negative listing.
The IPO will remain open for public subscription between August 5, 2025, and August 7, 2025. The share allotment will likely be finalised on August 12, and the company is expected to be listed on both BSE and NSE on August 18.
The price band of the IPO has been fixed in the range of Rs 95 to Rs 100 per share.
For investors, the minimum lot size for the IPO is 150. It means investors will have to apply for a minimum of 150 shares or in multiple thereof. So, retail investors require a minimum capital of Rs 14,250 to apply for the IPO.
According to market observers, unlisted shares of Knowledge Realty Trust are currently trading at zero GMP.
The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
What Is Knowledge Realty Trust?
KRT is set to become India's largest REIT by gross asset value (around Rs 62,000 crore). Its net operating income stood at Rs 3,432 crore in the previous financial year.
KRT owns over 46 million sq ft of office assets across 29 assets in six cities, primarily Mumbai, Bengaluru, and Hyderabad.
The assets include One BKC and One World Center in Mumbai, Knowledge City, and Knowledge Park in Hyderabad and Cessna Business Park and Sattva Softzone in Bengaluru.
Blackstone and Sattva will continue to own about 80 per cent of the REIT.
At present, there are four listed REITs (real estate investment trusts) in India — Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust.
Apart from Nexus Select Trust, the other three REITs are backed by rent-yielding office assets. Nexus owns a large portfolio of retail real estate spaces.
Bengaluru-based Sattva Developers has so far constructed 74 million sq ft across seven Indian cities in commercial, residential, co-living, co-working, hospitality, and data centre sectors.
An additional 75 million sq ft is in the planning and implementation stage.
Blackstone, one of the leading global investment firms, has a huge exposure in the Indian real estate market.
The two sponsors have decided to adopt a brand-neutral strategy to grow the KRT portfolio inorganically through third-party acquisitions.
The existing four REITs have a combined portfolio of over 126 million sq ft of Grade A office and retail space across the country.
Since their inception, these REITs have collectively distributed over Rs 21,000 crore to unitholders.
Knowledge Realty Trust on Monday garnered Rs 1,620 crore from anchor investors ahead of its REIT public issue opening for public subscription. Those who have been allotted shares in the anchor round included TATA AIG General Insurance Company, Life Insurance Corporation of India, Nippon India Mutual Fund (MF), Axis MF, Tata MF, Amundi, Wells Capital, Jhunjhunwala Trust and 360 ONE, according to a circular uploaded on BSE's website.
This initial public offering (IPO) is entirely a fresh issuance of units by Knowledge Realty Trust. In early March, KRT filed the draft red herring prospectus (DRHP) with Sebi to launch an IPO and list the REIT on stock exchanges. This is part of a strategy to monetise its 30 prime office assets across major cities.
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Initially, the company planned to raise a total of Rs 6,200 through a public issue. In June, it raised Rs 1,400 crore from investors.
Accordingly, the issue size has been reduced to Rs 4,800 crore.
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August 05, 2025, 12:45 IST
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