Blackstone-Sattva backed Knowledge Realty Trust files for ₹6,200 crore IPO – CNBC TV18

Knowledge Realty Trust (KRT), a Actual Property Funding Trust (REIT) backed by Sattva Builders and Blackstone, on Thursday (March 6) filed its draft supply doc for an preliminary public providing (IPO) price ₹6,200 crore.

The REIT, structured with a 55:45 shareholding between Blackstone and Sattva, is ready to turn into India’s largest workplace REIT by Web Working Revenue (NOI) of ₹4,300 crore and Gross Asset Worth (GAV) of ₹60,000 crore.

With a 48-million-sq.-foot portfolio spanning 30 Grade A workplace belongings throughout six cities, KRT is India’s most geographically various workplace REIT. Almost 95% of its worth is concentrated in Bengaluru, Hyderabad, and Mumbai, making it the best-publicity entrance-workplace REIT within the nation.

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This marks Blackstone’s fifth public itemizing in India’s actual property sector, following the profitable listings of Embassy REIT, Mindspace REIT, Nexus REIT, and Ventive Hospitality (C-Company).

The portfolio boasts a 90% occupancy charge, with 76% of tenants being multinational firms (MNCs) and 45% World Functionality Facilities (GCCs). This can be Blackstone’s fourth REIT itemizing in India and the most important workplace REIT IPO within the nation to this point. Buyers will profit from a beautiful 7% pre-tax yield, with 80% of distributions being tax-free.

Sattva Builders Non-public brings over three a long time of actual property excellence, having constructed 74 million sq. toes throughout 7 Indian cities in business, residential, co-residing, co-working, hospitality, and knowledge heart sectors.

Additionally Learn: Actual property participant Pranav Constructions files IPO papers with Sebi