Public Market

IPO

Knowledge Realty Trust’s Rs.4,800-Cr IPO oversubscribed 7.64x

Business Standard  

Knowledge Realty Trust’s (REIT) initial public offering (IPO) was subscribed 7.64 times, receiving bids for 159.29 crore shares against 20.84 crore shares on offer. The price per share was set between INR 95 and INR 100.The IPO consists of a fresh issue of INR 4,800 crore. The proceeds will be used for repayment of debts amounting to INR 4,640 crore.The company had earlier raised INR 1,620 crore from anchor investors and INR 1,200 crore from strategic investors.Knowledge REIT owns and manages an office portfolio with assets spread across 6 cities in the country.