KRT gets SEBI nod for ₹4,800 crores REIT IPO

Knowledge Realty Trust (KRT), a joint venture between Sattva Group and global investment giant Blackstone, has received approval from SEBI to launch a ₹4,800 crores REIT IPO, expected in early August 2025.

KRT has already raised ₹1,400 crore from institutional investors ahead of the IPO. Its portfolio spans over 46 million sq. ft. across 29 locations in six major cities, including marquee assets One BKC and One World Centre in Mumbai, Knowledge City and Knowledge Park in Hyderabad, and Cessna Business Park and Sattva Softzone in Bengaluru.

A major portion of the IPO proceeds will go toward reducing debt, aiming to lower leverage by 21%. The trust plans further expansion via third-party acquisitions under a brand-neutral strategy.

This will be among India’s largest REIT offerings to date. Post-listing, KRT is set to become India’s largest REIT by gross asset value at ₹62,000 crore.

KRT will join four existing listed REITs in India Brookfield India REIT, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust. Among these, Nexus is the only one with a retail-focused portfolio, while the others are office-asset backed.

The listing marks a key milestone for India’s REIT market, underscoring rising institutional interest and growing depth in real estate capital markets.

What are REITs?
Real Estate Investment Trusts (REITs) are SEBI-regulated investment instruments that own, operate, or finance income-generating real estate, allowing individuals to invest in commercial properties without directly owning them.

REITs pool investor money to manage a diversified portfolio of properties and are required to distribute at least 90% of their income to unit holders. They offer regular returns, ease of trading on stock exchanges, and reduced risk through diversification. In India, most REITs focus on high-quality commercial office spaces leased to corporate clients.