Knowledge Realty Trust, sponsored by realty firm Sattva Group and Blackstone, has got Sebi approval to launch its REIT public offering to raise Rs 4,800 crore fund. Last month, Knowledge Realty Trust (KRT) had raised Rs 1,400 crore from investors ahead of its maiden REIT public issue. In early March, the KRT filed the draft red herring prospectus (DRHP) with Sebi to launch an initial public offering (IPO) and list the REIT on stock exchanges. This is part of a strategy to monetise its 30 prime office assets across major cities. According to sources, KRT received Sebi approval to launch its REIT- IPO, which is scheduled to hit the capital markets in the first week of August. The company plans to raise Rs 4,800 crore through the public issue as it has already raised Rs 1,400 crore from investors, they added. Sattva Group spokesperson declined to comment. The company will start the roadshow this week, and the price band is likely to be announced on August 30. KRT is set to become India's largest REIT by gross asset value (around Rs 62,000 crore). Blackstone, one of the leading global investment firms, has a huge exposure in the Indian real estate market. The two sponsors have decided to adopt brand brand-neutral strategy to grow the KRT portfolio inorganically through third-party acquisitions. Since their inception, these REITs have collectively distributed over Rs 21,000 crore to unitholders.
 

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