Upcoming IPO: The US -based equity firm Blackstone and Bangalore -based Real Essate Sattva Group are preparing to bring IPOs together. It will be India's largest Realty Equity Trust (Reit) named Knowledge Realty Trust. The draft offer documents have been submitted for the IPO near SEBI. A fund of Rs 6200 crore will be raised through this IPO.

This information given in draft papers (Knowledge Realty Trust Reit IPO)

Sponsors of this issue are Sutva Developers Private Limited and BREP Asia SG L&T Holding (NQ) Private Limited. Axis Trustee Services Limited is a trustee and Knowledge Realty Office Management Services Private Limited (formerly known as Trinity Office Management Services Services Private Limited) is the manager of this issue.

Blackstone will hold a 55 percent stake in the Rit and the remaining stake of the Satva Group. In these documents, information about the listing has not been given yet. According to the information shared in the draft offer documents papers, its total leajable area will be 48 million sq ft. The Knowledge Realty Trust will be the largest reit in India and the second largest reit in Asia.

These are the top 3 office market (IPO Alert)

On the basis of net operating income and gross asset value, Reit is the largest in India. Rit's 95 percent asset is India's top three office markets in Mumbai, Bengaluru and Hyderabad. At the same time, 90 percent of Rit's portfolio is on leased, with 76 percent tenants multinational companies. There are some assets included in the retrieved one BKC, One International Center and One World Center in Mumbai.

This is financial performance

6200 crore and Rs 5800 crore in total issue size will be used to fill a Personal or fully debt, for asset special vehicle, investment interactions. By September 30, 2024, Blackstone's global real estate portfolio costs around $ 602 billion. Earlier, Blackstone got out of Embassy Office Parks Reit in December 2023 and sold his 23.5 percent of his entire stake for ₹ 7,100 crore, giving it 3-3.5 times the return on his initial investment.

In the year 2022, Blackstone moved away from Mindspace Business Parks Reit to ₹ 9.16 percent of the entire stake for ₹ 1,740 crore, which was 16 percent premium.

The Sutva Group has so far developed more than 80 million square feet and is going to be 65 million sq ft. It works in a commercial and residual real estate in the Rialtar Bengaluru, Goa, Pune, Hyderabad and Coimbatore.