Knowledge Realty Trust is set to open its ₹4,800-crore initial public offering (IPO) on August 5, 2025, marking India’s largest REIT public issue by gross asset value. The offering will consist entirely of fresh issue units and close on August 7. Units are priced in the range of ₹95–₹100, with a minimum investment of ₹15,000 for 150 units.
The REIT’s anchor investor bidding will take place a day earlier, on August 4. Upon listing, Knowledge REIT is expected to become India’s largest real estate investment trust by both gross asset value and net operating income.
The trust owns 29 Grade A office properties with a total leasable area of 46.3 million square feet, spread across six key cities: Hyderabad, Mumbai, Bengaluru, Chennai, Gurugram, and GIFT City in Ahmedabad. It has a well-diversified tenant base, with many global corporations and technology firms occupying space.
The REIT is jointly sponsored by Bengaluru-based Sattva Developers and BREP Asia SG L&T Holding, a Blackstone portfolio company. Blackstone has been one of the largest investors in India’s commercial real estate market since 2011 and continues to expand its footprint in the sector through partnerships like this one.
Eight investment banks are managing the public issue: Kotak Mahindra Capital, Axis Capital, BofA Securities India, ICICI Securities, IIFL Capital Services, JM Financial, Morgan Stanley India, and SBI Capital Markets. The REIT units will be listed on both BSE and NSE.
The relatively low entry point , ₹15,000 for 150 units, makes this REIT attractive to retail investors seeking exposure to commercial real estate income. REITs provide regular income via dividends as they are required to distribute at least 90% of their net distributable cash flow to unit holders.
Market analysts expect strong demand for the IPO, given the sponsor profile, sector performance, and the REIT’s stable income-generating assets. With India’s office market seeing steady recovery and rental growth in tech-focused cities, the REIT is likely to appeal to long-term investors.
If successfully subscribed and listed, this will become the fourth publicly traded REIT in India and the largest by asset base, surpassing the likes of Embassy REIT and Mindspace REIT.
Knowledge REIT’s IPO is being closely watched by institutional investors and wealth managers as a key opportunity in the alternative investment space in FY26.
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