Knowledge Realty Trust, sponsored by real estate company Sattva Group and Blackstone, on Thursday filed initial documents with market regulator SEBI to launch its maiden REIT public issue to raise more than Rs 6,200 crore.
Knowledge Realty Trust (KRT) has filed the Draft Red Herring Prospectus (DRHP) with SEBI to launch Initial Public Offering (IPO) and list the REIT on stock exchanges, as part of its strategy to monetise its 30 prime office assets across major cities.
KRT will be the largest REIT in India in terms of Net Operating Income (NOI) and Gross Asset Value which is estimated at around Rs 60,000 crore.
KRT plans to raise around Rs 6,200 crore through REIT-IPO, according to its DRHP.
At present, there are four listed REITs in India -- Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust.
Apart from Nexus Select Trust, the other three REITs are backed by rent-yielding office assets. Nexus owns a large portfolio