05-08-2025
Jhunjhunwala-backed Knowledge REIT IPO opens for subscription. Check all details
India's fourth real estate investment trust (REIT), Knowledge Realty Trust, will open its IPO for subscription on August 5. The IPO comprises an issue of units worth 4,800 crore.
ADVERTISEMENT The REIT has already raised Rs 1,620 crore from anchor investors ahead of the issue, attracting marquee backers such as Rakesh Jhunjhunwala Trust, Life Insurance Corporation of India (LIC), and global funds such as Capital Group, Fidelity, ADIA, and GIC.
The price band for the offer has been set at Rs 95–100 per unit. Investors can bid for a minimum of 150 units and in multiples thereof. The REIT is proposed to be listed on both NSE and BSE, with a tentative listing date of August 18.
This issue is being made through the book building process and in compliance with Sebi REIT regulations, wherein not more than 75% of the issue (excluding the Strategic Investor portion) will be available for allocation on a proportionate basis to institutional investors and about 25% for allocation to non-institutional REIT model allows investors to gain exposure to rent-yielding real estate without owning physical property. Following Embassy, Mindspace, and Brookfield REITs, Knowledge REIT marks the fourth such listing in IPO proceeds from the fresh issue will be used for repayment of debt, acquisition of stake in certain assets, and general corporate purposes.
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Knowledge Realty Trust is India's largest office REIT by gross asset value, with a portfolio valued at Rs 61,998.9 crore as of March 31, 2025. Globally, it ranks as the second-largest office REIT in terms of total leasable area.
ADVERTISEMENT The trust owns a diversified portfolio of 30 Grade A office properties, covering 46.3 million sq ft, which includes 37.1 million sq ft of completed space, 1.2 million sq ft under construction, and 8 million sq ft reserved for future assets span six major Indian cities—Hyderabad, Mumbai, Bengaluru, Chennai, Gurugram, and GIFT City (Ahmedabad)—and are divided between six centrally located city offices and 24 business parks. These properties feature modern amenities like multi-cuisine food courts, exclusive clubs, wellness and fitness centres, sports facilities, medical clinics, and childcare facilities.
ADVERTISEMENT As of March 2025, the portfolio had a committed occupancy rate of 91.4%.
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