Private Equity

Other Private Equity/Strategic Investments

Blackstone’s Knowledge REIT raises Rs.1,400-Cr in pre-IPO round

Economic Times  

Real Estate Investment Trust (REIT) Knowledge Realty Trust (KRT), a joint entity of Blackstone and Sattva Developers, has raised over INR 1,400 crore through a pre-initial public offering (IPO) placement. The round was fully subscribed by domestic high-net-worth individuals (HNIs) and family offices. JM Financial, Radhakishan Damani, and 360 ONE Wealth Management were among the investors of this funding round.KRT filed a draft red herring prospectus (DRHP) in March to raise INR 6,200 crore via an IPO. With the pre-IPO placement concluded, the REIT will look to mop up the remaining INR 4,800 crore through the public issuance in July-August.The entity’s total portfolio is spread across 48.1 million sq ft as of September 2024, comprising 37.1 million sq ft of completed properties, 2.8 million sq ft under construction, and 8.2 million sq ft earmarked for future development.