Knowledge Realty Trust
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹100
Per ShareLot Size
150 Shares
Minimum Investment
₹15,000
Issue Size
₹4,800 Cr
Face Value
₹10
Per ShareIPO Type
Book Building-REITs
Retail Quota
0%
QIB Quota
75%
NII Quota
25%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Knowledge Realty Trust
Business model, operations, and market positioning.
Issue Type
Book Building-REITs
ISIN
INE1JAR25012
About the Company
We own and manage a high-quality office portfolio in India, and upon listing, we will be the largest office REIT in India based on Gross Asset Value ("GAV") of Rs.619,989 million as of March 31, 2025 as well as by Net Operating Income ("NOI") for FY2025 of Rs.34,322.67 million.1 We will also be the second largest office REIT in Asia and one of the largest office REITs globally in terms of Leasable Area as of March 31, 2025. Our Portfolio comprises 29 Grade A office assets totaling 46.3 msf as of March 31, 2025, with 37.1 msf of Completed Area, 1.2 msf of Under Construction Area and 8.0 msf of Future Development Area. We expect to be the most geographically diverse office REIT in India upon listing with Portfolio Assets spread across 6 cities which collectively represent more than 86.5% of both of India's office supply and gross absorption from CY2016 to Q1CY2025. With a multi-market geographical presence and assets comprising both front offices and integrated business parks, our Portfolio reflects a broad proxy of the Indian office market.
Industry Overview
India's office real estate landscape has changed significantly over the past two and a half decades. Since the early 2000s, office stock has grown by more than 35 times from approximately 25 msf in CY2000 to approximately 887 msf as of March 31, 2025 and is concentrated in the Top 7 cities comprising Bengaluru, Mumbai Metropolitan Region `MMR' (Mumbai), Delhi National Capital Region `Delhi-NCR' (which includes Delhi, Gurugram & Noida), Hyderabad, Chennai, Pune and Kolkata along with GIFT City, Ahmedabad. Indian real estate has emerged as a preferred investment asset class due to various factors such as the healthy growth of the economy, favorable demand-supply fundamentals, investor-friendly policies, rental growth opportunities, strong demographic profile and increased transparency.
Company History
Registered in the Republic of India as contributory, determinate and irrevocable trust on October 10, 2024 at Mumbai, Maharashtra, India under the Indian Trusts Act, 1882 and as a real estate investment trust on October 18, 2024 under the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, as amended, having registration number IN/REIT/24-25/0006.
Products & Services
- The object and purpose of the Knowledge Realty Trust is to carry on the activity of a real estate investment trust, as permissible under the SEBI REIT Regulations and applicable law.
Growth Strategy
- Capitalize on our Portfolio's embedded organic growth.
- Capitalize on our Portfolio's embedded organic growth.
- Leverage our brand-agnostic platform to implement an accretive acquisition strategy supported by our robust balance sheet.
- Leverage our brand-agnostic platform to implement an accretive acquisition strategy supported by our robust balance sheet.
- Leverage on our Sponsors' and Managers' operating experience for proactive asset and property management.
- Leverage on our Sponsors' and Managers' operating experience for proactive asset and property management.
Customer Base
Wholesaler & Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 2 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY25 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of up to 48,00,00,000 Units (as defined herein) for cash at a price of Rs. 100 per Unit aggregating up to Rs. 4800.00 crores by the Knowledge Realty Trust (the "Issue").
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Largest office REIT in India by GAV and NOI and the most geographically diverse, with several best-in-class assets located in the best performing office markets of India.
- Largest office REIT in India by GAV and NOI and the most geographically diverse, with several best-in-class assets located in the best performing office markets of India.
- Located in India-the world's fastest growing major economy with the services sector continuing to be the key driver.
- Located in India-the world's fastest growing major economy with the services sector continuing to be the key driver.
- High quality assets with robust infrastructure and a wide-range of amenities, supported by well-established in-house asset maintenance services.
- We have not executed binding agreements with respect to the Initial Portfolio Acquisition Transactions and for the proposed management framework for our Portfolio and our ability to consummate these transactions will impact the size of the Issue and the ability of the Manager to complete this Issue. Further, we will assume existing liabilities in relation to our Portfolio, which if realized may impact the trading price of the units and our profitability and ability to make distributions.
- The Initial Portfolio Acquisition Transactions will only be given effect to after the Bid/Offer Closing Date. Further, the company will assume existing liabilities in relation to its Portfolio, which if realized may impact the trading price of the units and the company profitability and ability to make distributions.
- Its actual results may be materially different from the expectations expressed or implied, or Projections, included in this Offer Document. Accordingly, investors should not place undue reliance on, or base their investment decision solely on this information.
- Our actual results may be materially different from the expectations expressed or implied, or Projections, included in this Draft Offer Document. Accordingly, investors should not place undue reliance on, or base their investment decision solely on this information.
- We do not provide any assurance or guarantee of any distributions to the Unitholders. We may not be able to make distributions to Unitholders in the manner described in this Draft Offer Document or at all, and the level of distributions may decrease.