REIT IPO 2025: Knowledge Realty Raises Big Pre-Launch
REIT IPO 2025: Knowledge Realty Trust REIT has raised a whopping Rs.1,620 crore from anchor investors just ahead of its IPO. Leading the list of backers are LIC and the Jhunjhunwala Trust, along with several major domestic and global financial institutions.
The IPO, which opens to the public on Tuesday, aims to raise Rs.4,800 crore through a fresh issue. The price range has been fixed between Rs.95 to Rs.100 per unit.
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Strong Institutional Participation in Anchor Book
The anchor portion saw participation from over 50 investors. Notably, LIC has made its first-ever investment in a REIT IPO. Other key names include Tata AIG, Axis Mutual Fund, Nippon MF, SBI Pension Fund, PIMCO, and international institutions like Amundi and Wells Capital. The Jhunjhunwala Trust and 360 One also featured prominently.
In addition to anchor funding, the REIT had earlier completed a Rs.1,400 crore pre-IPO round. High-profile HNIs such as Radhakishan Damani and the Karan Bhagat Trust were part of that tranche, showcasing strong early interest.
IPO Structure and Fund Allocation
Of the Rs.1,980 crore open to the public, Rs.1,080 crore has been earmarked for institutional investors, and Rs.900 crore for retail and HNIs. The minimum application size for individual investors is Rs.15,000, making it accessible to small investors as well.
Proceeds from the IPO will primarily be used to repay or prepay debts tied to the REIT’s underlying asset SPVs and investment entities. A portion of the funds will also support general corporate activities.
First IPO Under SEBI's New REIT Rules
This IPO is notable for being the first REIT to launch under SEBI’s new master circular issued on July 11. The sponsors of Knowledge Realty Trust are Sattva Developers and BREP Asia SG L&T Holding (NQ). Axis Trustee Services is the appointed trustee, while Knowledge Realty Office Management Services (formerly Trinity Office Management) is managing the issue.
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