If you’re tracking India’s capital markets, Knowledge Realty Trust REIT IPO stands out as one of the most talked-about public issues this August 2025. As India’s largest office REIT with a diverse, top-grade asset portfolio and strong institutional backing, this IPO has captured the attention of both institutional and retail investors. In this article, you’ll find all you need to know: issue dates, price band, strategic strengths, potential risks, and whether this REIT deserves a spot in your investment portfolio.
IPO Dates and Key Details
- Opening Date: August 5, 2025
- Closing Date: August 7, 2025
- Listing Date: August 12, 2025
- Price Band: ₹95 – ₹100 per unit
- Minimum Lot Size: 150 units (₹15,000 minimum application)
- Total Issue Size: ₹4,800 crore
- Stock Exchanges: BSE, NSE
- Sponsors: Sattva Developers and Blackstone (BREP Asia SG L&T Holding)
- Registrar: KFin Technologies
About Knowledge Realty Trust REIT
Knowledge Realty Trust (KRT) is India’s largest office-focused REIT by Gross Asset Value (GAV), boasting a portfolio of 29–30 Grade A commercial properties across India’s top metropolitan hubs. As of March 31, 2025:
- Gross Asset Value (GAV): Over ₹62,000 crore.
- Total Owned/Managed Space: 46.3–48.1 million sq. ft.
Major Tenant Base: Top global and Indian names like Amazon, Google, Apple, Cisco, Goldman Sachs, and several Fortune 500 companies are among its 450+ tenants. The assets include prime business parks, city-center offices, and trophy addresses such as One BKC and One World Centre in Mumbai, and Knowledge City in Hyderabad.
Occupancy & Lease Profile:
- Occupancy rate: 89.9%
- Average lease expiry: 8.6 years
- Tenant retention: 63.5%
- Over 450 tenants, reducing rental dependency risk.
Financial Performance
- FY2025 Revenue: ₹4,146.86 crores
- FY2025 Profit: ₹222.52 crores
- EBITDA Margin: 83.8% (indicative of a stable cash flow business)
- Borrowings: After IPO proceeds, loan-to-value (LTV) falls to 19% – a comfortable level for a real estate trust.
Strengths of Knowledge Realty Trust REIT
- Strategic Portfolio: Pan-India exposure across Mumbai, Hyderabad, Bengaluru, Gurugram, Chennai, and GIFT City, Ahmedabad.
- Quality Assets: Focused on Grade A, well-amenitized commercial properties.
- Diversification: Broad tenant base and geography spread reduce volatility and risk.
- Reputable Sponsors: Backed by the expertise and financial muscle of Sattva (one of South India’s biggest developers) and Blackstone, a global real estate powerhouse.
- Growth Potential: Brand-agnostic strategy to acquire quality assets from third parties, not just sponsor-led additions.
- Stable Returns Model: Lease to blue chip tenants with embedded escalation clauses and long-duration leases, fostering predictable income.
Also read Top Upcoming IPOs to Watch in India – July & August 2025
Risks & Factors to Watch
- Exposure to Economic Cycles: Commercial real estate can be cyclical—downturns may impact occupancy, lease terms, and rent escalation.
- Regulatory Constraints: REIT guidelines restrict how capital is deployed, impacting distribution and future acquisitions.
- Interest Rate Sensitivity: Rising rates can affect distributable surplus and borrowing costs.
- Related Party Transactions: Potential conflicts of interest in asset purchases from sponsors or affiliates.
- Liquidity: While units are listed on stock exchanges, real estate assets remain relatively illiquid.
Should You Invest?
The IPO offers retail investors a chance to own a sliver of India’s finest corporate addresses and gain stable, rental-based income through REIT distributions. With a robust asset portfolio, elite tenant list, high occupancy rate, and reputed sponsors, Knowledge Realty Trust REIT has laid a strong foundation.
However, as with any investment in commercial property or REITs, consider possible interest rate risks, broader market cycles, and your own appetite for medium-term holding. For those seeking predictable income and real estate exposure in a liquid, exchange-traded format, this IPO is compelling.
How to Apply
- Investors can apply through their broker (UPI or ASBA method).
- The minimum application is for 150 units, with increments thereof.
- Check the allotment status via KFin Technologies after August 8.