Skip to main content
Knowledge Realty Trust REIT IPO
1.70xsubscribed

Knowledge Realty Trust REIT IPO

Construction - Real Estate
listed
â‚ą14,250Min. investment

Knowledge Realty Trust REIT IPO Details

SectorConstruction - Real Estate
Price range₹95.00 – ₹100
IPO type
REITS
Lot size150 shares
Issue sizeâ‚ą4,800Cr
Red Herring Prospectus
Read
RevenueApr 2024 - Mar 2025
â‚ą3,930CrHigher than sector avg
Growth rate3Y CAGR
10.60%

Knowledge Realty Trust REIT IPO Subscription Status

Date
QIB
NII
Retail
Total
06-Aug-25
0.09 times (X)
0.15 times (X)
0.0 times (X)
0.18 times (X)
07-Aug-25
2.33X
0.31X
0.0X
1.7X

As on 06-Aug-25, 9:10 PM

Knowledge Realty Trust REIT IPO Timeline

  1. Pre-apply
    4 Aug 2025
  2. Bid start
    5 Aug 2025
  3. Bid end
    7 Aug 2025
  4. Allotment
    12 Aug 2025
  5. Release of funds
    13 Aug 2025
  6. Demat transfer
    13 Aug 2025
  7. Listing
    18 Aug 2025

About Knowledge Realty Trust REIT

Knowledge Realty Trust owns and manages a high-quality office portfolio in India and is the largest office REIT based on Gross Asset Value of â‚ą61,998.90 crore as of March 31, 2025, and Net Operating Income of â‚ą3,432.27 crore for FY25. It is also 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.
The portfolio comprises 29 Grade A office assets totalling 46.3 million square feet 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. The portfolio includes 6 city-centre offices and 23 business parks/centres. The portfolio's weighted average lease expiry (WALE) stands at 8.4 years as of March 31, 2025. It achieved a tenant retention rate of 61.7% from FY23 to FY25.
A significant portion of the portfolio, approximately 95.6% of GAV as of March 31, 2025, is located in Bengaluru, Hyderabad and Mumbai, which are the best-performing office markets in India in terms of market size and absorption levels. Bengaluru recorded the highest cumulative net absorption in India between CY16 and Q1CY25 of approximately 80.5 msf, while Hyderabad recorded a cumulative net absorption of 64.9 msf, the second-largest office market in India.
The portfolio has a committed occupancy of 91.4% as of March 31, 2025, which is the highest compared to other listed Indian office REITs. The portfolio assets serve a diversified tenant base with 74.1% of gross rentals from multinational tenants, 43.6% from Global Capability Centres (GCCs) and 38.2% from Fortune 500 companies for the month ended March 31, 2025. The company serves more than 450 tenants as of March 31, 2025, supporting over 275,000 employees working across portfolio assets.
India hosts 2,975+ GCC units as of FY25 and is known as the “GCC Capital of the World”. GCCs accounted for 35.8% of India's office space leasing in CY24, up from 30.1% in CY22. India has become one of the largest global office markets with 887 msf of office stock as of Q1CY25, expected to reach 1,061 msf by 2027. Gross absorption reached a record 80.3 msf in CY24, expected to grow 11.6% to 89.6 msf in CY25. Cities like Bengaluru and MMR have seen continuous rental growth driven by tight supply and strong demand.
The company’s core markets, Bengaluru, Hyderabad, and MMR, accounted for 66.8% of total GCC leasing in India from CY22 to Q1CY25. With flagship assets like Sattva Knowledge City (Hyderabad) and One BKC (Mumbai), it is strategically embedded in these GCC growth clusters. Its assets are located in high-demand sub-markets like Outer Ring Road (Bengaluru), HITEC City (Hyderabad), and BKC (Mumbai), where rentals are already premium and growing. With a WALE of 8.4 years and 91.4% committed occupancy, it is expected to enjoy stable income with upside from rising rentals and lease renewals.
Now, Knowledge Realty Trust Ltd is launching its real estate investment trust (REIT), which consists of a fresh issue worth up to â‚ą4,800 crore. The total issue size of the IPO is â‚ą4,800 crore. Its shares will be listed on the NSE and BSE.

Knowledge Realty Trust Reit IPO Analysis

IPO REVIEW

Knowledge Realty Trust REIT IPO | Analysis Video

Should you apply?

Watch our analysts break down the Knowledge Realty Trust Reit IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
Shares pledged
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Strength and Weakness

Largest office REIT in India

Knowledge Realty Trust is set to become the largest office REIT in India, with a Gross Asset Value (GAV) of â‚ą61,998.9 crore as of March 31, 2025, and a Net Operating Income (NOI) of â‚ą3,432.24 crore for FY25. The portfolio spans 46.3 million square feet (msf) of leasable area, making it not only the largest in India but also the second-largest office platform in Asia by leasable area.

Prime locations

The company’s portfolio is composed of premium assets in the best-performing sub-markets across India. Its presence in six major cities: Hyderabad, Mumbai, Bengaluru, Chennai, Gurugram, and GIFT City, Ahmedabad—positions it strategically in the highest-performing office markets in India, which account for over 86.5% of the country’s office supply and gross absorption from CY16 to Q1CY25.

High-quality assets

KRT’s Grade A assets, with superior infrastructure and amenities, enable it to command rental premiums across key markets. This has driven strong portfolio performance, with 91.4% committed occupancy, a 3-year CAGR of 5.8% base rent (vs. 4.2% in sub-markets), and a 61.7% tenant retention rate from FY23 to FY25.

Strong tenant base and diverse sector exposure

The company’s tenant base is diverse, with multinational corporations (MNCs) and Global Capability Centres (GCCs) contributing to 74.1% of its gross rentals. KRT’s diversified portfolio spans over 20 sectors, including technology, BFSI (banking, financial services, and insurance), engineering, healthcare, and research. The company has leased to major companies like Amazon, Cisco, and HDFC Bank.

Track record of development and acquisition

KRT has a strong track record, completing 7.4 msf of acquisitions (5 projects) and 9.7 msf of construction (8 projects) between FY20–FY25. Examples include Sattva Knowledge City (award-winning tech hub), Sattva Global City (revamped marquee asset), and Exora Business Park (repositioned business park). The company pre-leased 72.5% of the total leasable area within 12 months of completion.

Objectives of Knowledge Realty Trust Reit IPO

Repayment or pre-payment of borrowings
96.00%
The company will utilise â‚ą4,640 crore towards repayment or prepayment of borrowings.
General corporate purposes
4.00%
Part of the IPO proceeds will be used for general corporate purposes.

Compare

CompanyRevenue*3Y growthPATD/E ratio
This IPOâ‚ą3,930Cr10.60%â‚ą222Cr9.26
This sector (avg.)â‚ą459.59Cr0%â‚ą44.01Cr0.89
â‚ą7,993.66Cr---â‚ą2,694.51Cr0.10
â‚ą13,779.5Cr---â‚ą2,766.6Cr0.35
â‚ą7,349.4Cr---â‚ą616.9Cr0.85

*Revenue for financial year 2024-25. Lower P/E and D/E ratios are generally preferred.

Knowledge Realty Trust REIT IPO Contact Details

Company NameKnowledge Realty Trust REIT

How to apply for Knowledge Realty Trust REIT IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Knowledge Realty Trust Reit IPO FAQs