Blackstone-backed Knowledge Realty Trust Raises ₹1,400 Cr in India’s First REIT Pre-IPO Round.

Knowledge Realty Trust (KRT), a joint venture between Blackstone and Sattva Developers, has raised ₹1,400 crore in India’s maiden REIT pre-IPO placement. This landmark move, fully subscribed by domestic HNIs and family offices, signals growing investor appetite for asset-backed instruments. KRT had filed to raise ₹6,200 crore via IPO, with the remaining ₹4,800 crore to be raised in July-August. With 30 Grade-A office assets across major cities including Mumbai, Bengaluru, and GIFT City, KRT's 48.1 million sq ft portfolio positions it as India’s largest REIT by asset value and second largest in Asia. Key investors include JM Financial, Radhakishan Damani, and 360 One Wealth. This development underscores the resilience of India’s commercial office market and the maturing capital market landscape. KRT’s IPO will be the fifth REIT listing in India, following Embassy, Mindspace, Brookfield, and Nexus Select Trust.