Sattva Developers and Blackstone sponsored Knowledge Realty Trust REIT have filed draft offer documents with SEBI to raise Rs 6,200 crore. Knowledge Realty Trust is the owner and manager of high-quality office portfolio in India. The issue will be made through the book building process, with up to 75% of the issue available for allocation to institutional investors. At least 25% of the issue will be available for allocation to non-institutional investors. Will become the second largest office REIT in Asia Upon listing, Knowledge Realty Trust REIT will be the largest office REIT in India in terms of gross asset value (GAV) and non-operating income (NOI). Also, it will become the second largest office REIT in Asia. Revenue from operations in 2024 stood at Rs 3,339.39 crore Revenue from operations for FY 2024 and 2023 was Rs 3,339.39 crore and Rs 2,900.30 crore. Profit after tax for FY 2024 and 2023 stood at Rs 336.44 crore and Rs 218.49 crore. Revenue from operations for the six months ended September 30, 2024 stood at Rs 1,881.63 crore. Issue will be listed on BSE and NSE The registrar of this issue is Kaffin Technologies Limited. The units are proposed to be listed on BSE Limited and National Stock Exchange of India Limited. REITs are like mutual funds for real estate investments Real estate investment trusts (REITs) are like mutual funds for real estate investments. Investors pool their money, and the REIT invests in commercial properties. Returns come from rental income and appreciation in property value.
