Knowledge Realty Trust REIT IPO Oversubscribed 3.42 Times on Day Two
By ScanX News Team
Knowledge Realty Trust's Rs 4,800-crore REIT IPO has been oversubscribed 3.42 times on the second day of bidding. The offering received bids for 71.2 crore units against 20.8 crore units on offer. Other investors' category was subscribed 5.88 times, while institutional investors' portion was subscribed 1.36 times. The IPO, priced at Rs 95-100 per unit, concludes on Thursday. Post-listing, the trust is set to become India's largest REIT by gross asset value, estimated at Rs 62,000 crore, with a portfolio of over 46 million sq ft of office assets across 29 properties in six cities.
*this image is generated using AI for illustrative purposes only.
Knowledge Realty Trust's Real Estate Investment Trust (REIT) Initial Public Offering (IPO) has garnered strong investor interest, achieving 3.42 times subscription on the second day of bidding. The Rs 4,800-crore IPO has received bids for 71.2 crore units against the 20.8 crore units on offer.
Subscription Details
The IPO, which is set to conclude on Thursday, has seen varied interest across investor categories:
- Other investors (including corporates and individuals): 5.88 times subscribed
- Institutional investors: 1.36 times subscribed
IPO Highlights
| Detail | Value |
|---|---|
| Issue Size | Rs 4,800 crore |
| Price Band | Rs 95-100 per unit |
| Subscription Period | Concludes on Thursday |
| Type | Fresh issuance of units |
Pre-IPO Funding
Knowledge Realty Trust has already secured significant funding prior to the public offering:
- Anchor Investors: Rs 1,620 crore raised
- Strategic Institutional Allocation: Rs 1,200 crore raised
Trust Overview
Post-listing, Knowledge Realty Trust is positioned to become India's largest REIT by gross asset value:
- Estimated Gross Asset Value: Rs 62,000 crore
- Net Operating Income (Previous Financial Year): Rs 3,432 crore
- Portfolio: Over 46 million sq ft of office assets
- Properties: 29 across six cities
- Key Markets: Mumbai, Bengaluru, and Hyderabad
Ownership Structure
Post-listing, the ownership structure of the REIT is expected to be:
- Blackstone and Sattva: Approximately 80% ownership
- Public: Remaining stake
The strong subscription numbers, particularly from retail and corporate investors, indicate significant market interest in Knowledge Realty Trust's REIT offering. As India's commercial real estate market continues to evolve, this IPO represents a major development in the REIT sector, potentially setting new benchmarks for size and scale in the industry.
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