Blackstone offers to sell up to 25% of India's Knowledge REIT for over $1 billion
Blackstone is looking to sell a stake of up to 25.03 percent in Knowledge Realty Trust. This offer encompasses both a base stake and an oversubscription option. The base price has been established at 108 rupees per unit. Knowledge Realty Trust, su...
By Reuters |
Reuters
Blackstone has proposed to sell up to 25.03% of Indian real estate investment trust Knowledge Realty Trust in an offer for sale, an exchange notice showed on Friday.
The sale comprises a base offer of 16.69% stake, with an option to sell 8.34% more in case of oversubscription.
Floor price has been set at 108 rupees per unit, valuing the total stake that could be sold at 119.88 billion rupees ($1.26 billion).
Knowledge Realty Trust, backed by Blackstone and Indian real estate firm Sattva Group, owns 29 assets across six cities and has a gross asset value of 674 billion rupees, according to its website. Blackstoneand related entities now hold 46.51% in the REIT. Knowledge Realty Trust, which listed on exchanges in August 2025, has gained about 10% since then.
The sale comprises a base offer of 16.69% stake, with an option to sell 8.34% more in case of oversubscription.
Floor price has been set at 108 rupees per unit, valuing the total stake that could be sold at 119.88 billion rupees ($1.26 billion).
Knowledge Realty Trust, backed by Blackstone and Indian real estate firm Sattva Group, owns 29 assets across six cities and has a gross asset value of 674 billion rupees, according to its website. Blackstoneand related entities now hold 46.51% in the REIT. Knowledge Realty Trust, which listed on exchanges in August 2025, has gained about 10% since then.
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