Knowledge Realty Trust REIT IPO Closes with Strong Investor Response, Oversubscribed 13 Times

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The initial public offering of Knowledge Realty Trust, India’s largest Real Estate Investment Trust (REIT) backed by Sattva Group and Blackstone, concluded on August 7 with overwhelming investor interest. The ₹4,800 crore issue became the most subscribed REIT IPO in Indian capital market history, receiving bids for over 13 times the number of units on offer.

The offering received a total of 2,595 crore bids against the 20.8 crore units available at the upper price band of ₹100 per unit. At the lower price band of ₹95, the issue was subscribed 12.45 times. The institutional investor portion was subscribed 9.55 times, while other categories, including retail and high net-worth individuals, saw bids 17.38 times their allotted quotas.

Investor enthusiasm built up steadily throughout the bidding period. By the second day of the IPO, the offer had already been subscribed 3.42 times, signaling strong demand from both domestic and foreign participants.

Before the IPO opened to the public, Knowledge Realty Trust raised ₹1,620 crore from anchor investors on August 4. Major participants in the anchor round included Life Insurance Corporation of India, the Jhunjhunwala family office, and several leading global investment funds, indicating significant institutional confidence in the REIT’s fundamentals and prospects.

The issue marks a significant milestone for India’s commercial real estate sector. With robust interest across investor categories, the Knowledge Realty Trust REIT has set a new benchmark for REIT offerings in the country. The success of the IPO reflects growing investor appetite for professionally managed real estate assets that offer consistent yields along with potential capital appreciation.

Market participants are now watching closely for the REIT’s listing performance, as expectations remain high following the record-breaking subscription. The final allotment and listing details are expected to be announced in the coming days.