Knowledge Realty Trust REIT IPO opens August 5 with ₹4,800 Cr size and ₹95–100 price band. Grey market premium stands at ₹0, suggesting likely listing at ₹100. Read subscription, anchor booking, allotment timeline and investor cues.
📢 Overview: Knowledge Realty Trust REIT IPO & GMP
India’s largest Office REIT IPO—Knowledge Realty Trust (KRT)—opened for public subscription on August 5, 2025, at a price band of ₹95–₹100 per unit, with a lot size of 150 units (~₹15,000 investment) and a total issue size of ₹4,800 crore. It’s backed by Blackstone & Sattva Group and is backed by institutional anchor booking worth ₹2,820 crore.(turn0search4/turn0news12/turn0news14/turn0search7)
As per the latest updates, the Grey Market Premium (GMP) is trading at ₹0, indicating expected listing around ₹100/share with minimal first-day pop.(turn0search3/turn0search8)
🏢 Why GMP Is ₹0: What It Tells Us
A flat GMP reflects:
- Expected issue priced fairly at ₹100, showing no panic or excitement in grey market trading.
- High institutional confidence, anchored by LIC, Jhunjhunwala Trust, FLORIDA Retirement, Amundi Funds, Morgan Stanley, and more.(turn0news14/turn0search3)
- Market viewing the REIT as stable income play—not short-term volatility asset.
🧾 IPO Snapshot & Fundamentals
| Feature | Details |
|---|---|
| IPO Size | ₹4,800 Cr fresh issue |
| Price Band | ₹95 – ₹100 per unit |
| Lot Size | 150 units (~₹15,000) |
| Anchor Booking | ₹1,620 Cr institutional + ₹1,200 Cr strategic |
| Portfolio Size | ₹62,000 Cr GAV; 46.3 Msq. ft. asset base |
| Occupancy Rate | ~91–92% |
| Cities Covered | Mumbai, Bengaluru, Hyderabad, Chennai, Gurugram, GIFT City |
KRT owns 30 Grade A office assets across 6 key Indian cities, with 37.1 msf completed and ~46.3 msf total leasable space. As of H1 FY25, its net operating income was ₹1,632 crore.(turn0search6/turn0search5/turn0search8)
The IPO proceeds are mostly directed toward reducing debt in their SPVs, maintaining a relatively low loan-to-value (LTV) ratio.(turn0search1/turn0search4)
📅 IPO Timelines & Listing Outlook
- Subscription Window: August 5–7, 2025
- Basis of Allotment: August 8
- Refund/Share Credit: By August 11, 2025
- Expected Listing: August 12, 2025 on BSE & NSE [REIT segment]
(turn0search8/turn0search4/turn0search0)
GMP of ₹0 means listing is likely at or near ₹100, with limited gap from issue price.
Pros & ⚠️ Risks
✅ Why Investors Are Positive:
- Backed by marquee names and heavy anchor interest signals strong confidence.
- Asset quality (Grade A offices) and high occupancy (~91%) provide stable cash flows.
- REIT payouts offer institutional income with lower volatility; attractive contrast to SME IPOs.
⚠ Risks to Monitor:
- No expected listing pop—flat GMP implies minimal upside for listing day traders.
- Commercial real estate markets may face lease rollover risks or macro slowdown.
- Long lock‑in period as per REIT regulations—illiquid units until maturity or exit.(turn0search2/turn0search1)
❓FAQs
❓ What does it mean that GMP is ₹0?
When Grey Market Premium is ₹0, it means there’s no unofficial premium trading—listing likely at issue price of ₹100 with no expected gain. See public dashboards or platforms.(turn0search3/turn0search8)
❓ Who are the major anchor investors?
The IPO raised ₹1,620 Cr from anchor investors including LIC, Jhunjhunwala Trust, Amundi Funds, Florida Retirement, Morgan Stanley, Societe Generale, and domestic mutual funds.(turn0news14 in support of strong institutional interest.
❓ What is the expected listing date?
Allotment on August 8, refund/credit by August 11, and listing on August 12, 2025, on BSE/NSE REIT platform.(turn0search8/turn0search0)
📝 Summary Summary
| Item | Details |
|---|---|
| Price Band | ₹95 – ₹100 |
| 📦 IPO Subscription | Opens Aug 5; finalizes Aug 7 |
| 🔍 GMP Today | ₹0 (flat) |
| 🏛 Listing Price | Likely ₹100/unit |
| 📆 Key Dates | Allotment ~Aug 8, Listing ~Aug 12 |
| ✅ Upside Potential | Minimal initial listing gain; stability focused |
| ⚠ Long-Term Risk | Lease cycle risk or macro realty downturn |
🔚 Final Thoughts
The Knowledge Realty Trust REIT IPO is clearly positioned as a steady, income-oriented investment rather than a quick listing pop play. With high OCC, prestigious backing, and stable asset quality, it stands as a credible REIT offering. But since GMP is flat at ₹0, listing is expected at ₹100—not ₹120 or ₹150 like high-premium IPOs. If you’re looking for listing-day gains, this may not suit. But for long-term regular yield play in commercial real estate, it could be useful. Stay grounded, focus on fundamentals—sab thik hai, meri jaan 😊
⚠️ Disclaimer
This blog is for informational purposes only and not financial advice. IPO details, GMP, and timelines reflect data as of August 5, 2025. GMP itself isn’t regulated or guaranteed. Please consult a SEBI‑registered advisor before investing.
