Units of Knowledge Realty Trust (KRT), sponsored by Sattva Group and Blackstone, debuted at a 4% premium on BSE at ₹104 against the issue price of ₹100.
The company’s market valuation stood at ₹47,328.35 crore on listing.
Its ₹4,800 crore REIT IPO, priced at ₹95–100 per unit, was subscribed 12.48 times and consisted entirely of fresh issuance.
Units of Knowledge Realty Trust Lists with 4% Premium
The unit started trading at ₹104, up 4% from the issue price on the BSE
Knowledge Realty Trust Moneycontrol
Summary
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The units of Knowledge Realty Trust, sponsored by realty firm Sattva Group and Blackstone, listed with a premium of 4% on Monday against the issue price of ₹100 per unit.
The unit started trading at ₹104, up 4% from the issue price on the BSE.
At the NSE, it listed at ₹103, a premium of 3%.
The company's market valuation stood at ₹47,328.35 crore.
The ₹4,800-crore REIT initial public offering (IPO) got subscribed 12.48 times.
The company had set a price band of ₹95 to ₹100 per unit for its initial share sale.
The IPO was entirely a fresh issuance of units by Knowledge Realty Trust.
KRT owns over 46 million sq ft of office assets across 29 assets in six cities, primarily Mumbai, Bengaluru, and Hyderabad.
The assets include One BKC and One World Center in Mumbai, Knowledge City, and Knowledge Park in Hyderabad and Cessna Business Park and Sattva Softzone in Bengaluru.
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There are four other listed REITs (real estate investment trusts) in India -- Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust.
Bengaluru-based Sattva Developers has so far constructed 74 million sq ft across seven Indian cities in commercial, residential, co-living, co-working, hospitality, and data centre sectors.
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