Sattva Group, Blackstone-backed trust files for ₹6,200 cr REIT public issue

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Sattva Group, Blackstone-backed trust files for ₹6,200 cr REIT public issue - Business Standard

Quick Summary:

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.

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.

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.