Knowledge Realty Trust REIT IPO Opens: Key Details on Price Band, GMP, and Subscription Timeline

The public issue of Knowledge Realty Trust (KRT), a real estate investment trust promoted by global investment giant Blackstone and India’s Sattva Group, opened for subscription on Monday. With a total issue size of Rs 4,800 crore, the REIT is poised to become one of the largest listings in India’s commercial real estate market.

Price Band and Lot Size

The IPO is being offered in a price band of Rs 95 to Rs 100 per unit. Investors can bid for a minimum of 150 units, translating to an initial investment of approximately Rs 14,250 to Rs 15,000.

Robust anchor book participation

Ahead of the public issue, KRT raised Rs 2,820 crore via anchor investor allotments and institutional placements. Of this, Rs 1,620 crore came from marquee anchor investors including Life Insurance Corporation of India (LIC), various Tata Group funds, and the Jhunjhunwala Family Trust. International investors such as Amundi, PIMCO, and SBI Pension Fund also participated in the anchor round, underscoring broad-based confidence in the offering.

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Grey Market Premium

As of August 5, 2025, 5:53 PM, the grey market premium (GMP) for the REIT stood at Rs 0, indicating an expected listing price of Rs 100 per unit—matching the upper end of the IPO price band. The neutral GMP reflects no anticipated premium or discount on listing.

Key Dates 

The IPO subscription window runs from August 5 to August 7, following the successful anchor book closure on August 4. Allotment is expected to be finalised by August 12, with refunds initiated and demat accounts credited by August 13. The REIT is likely to list on the BSE and NSE on August 18, 2025, if all goes as scheduled.

Utilisation of Proceeds

As a fresh issue, proceeds from the IPO will be used to partially or fully repay existing debt held by the underlying asset SPVs and investment entities. This will help strengthen the REIT’s balance sheet and reduce interest burdens.

About Knowledge Realty Trust 

Backed by Blackstone and the Sattva Group, Knowledge Realty Trust owns a portfolio of 30 premium office properties located in key urban centres including Bengaluru, Hyderabad, Mumbai, Chennai, and Ahmedabad. With over 48 million square feet of total leasable area and a strong occupancy rate of 90%, KRT is positioned to become the largest REIT in India by Gross Asset Value and the second-largest in Asia by leasable area. The trust’s tenant base features several global corporations and technology giants, offering consistent rental yields and long-term income stability.