Blackstone has proposed
to sell up to 25.03 per cent 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 per cent stake, with an
option to sell 8.34 per cent more in case of oversubscription.
Floor price has been set at 108 rupees per unit, valuing the
total stake that could be sold at ₹11,988 crore ($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 ₹67,400 crore, according to its
website.
Blackstoneand related entities now hold 46.51 per cent in the REIT.
Knowledge Realty Trust, which listed on exchanges in August
2025, has gained about 10 per cent since then.
($1 = 95.3775 Indian rupees)