Knowledge Realty Trust REIT IPO GMP

August 18, 2025 Written By Mihir Gohel, Reviewed and Fact Checked by Harpal Parmar

The Knowledge Realty Trust REIT IPO opens for subscription from August 5 to August 7, 2025, with a price band of ₹95 to ₹100 per unit and a lot size of 150 shares, amounting to a minimum investment of ₹15,000. As India’s largest office REIT by Gross Asset Value, Knowledge Realty Trust manages a portfolio of 29 Grade A office assets spanning 46.3 million sq ft across six major cities, including Mumbai, Bengaluru, and Hyderabad. With a strong occupancy rate of 91.4% and major multinational tenants such as Amazon and Google, it offers stable cash flows and long lease tenures. The Knowledge Realty Trust REIT IPO promises a strategic investment in India’s growing commercial realty sector.

₹00

Latest IPO GMP

Last updated on 17 Aug 2025 12.31

₹100

IPO Offer Price

*cut off price

₹103.00

Listing Price

Listing Date 18/08/2025

Expert Opinions

The Knowledge Realty Trust REIT IPO is generating cautiously optimistic market sentiment as it is positioned as India’s largest office REIT, backed by renowned sponsors Blackstone and Sattva Group. The trust holds a diversified portfolio of 29 Grade A office assets with around 46.3 million sq ft of leasable area across key cities such as Mumbai, Bengaluru, Hyderabad, Delhi-NCR, Kolkata, and Pune. Financially, for FY 2025, it reported moderate profitability with a net profit of ₹222.5 crore and revenue of ₹3,930 crore; this reflects some challenges due to exceptional losses but overall efficient asset utilization. The REIT offers a stable dividend yield of about 7.2%, supported by long-term leases with blue-chip multinational tenants.

Key risks include the capital-intensive nature of the real estate sector, debt levels, and dependency on office occupancy rates amid changing market conditions. Long-term investors may find this IPO attractive for steady income and capital appreciation through India’s expanding commercial real estate market driven by increasing office space demand. The Knowledge Realty Trust REIT IPO is well-suited for investors with a medium to long-term horizon seeking exposure to a high-quality diversified office property portfolio.

Investor Considerations

The Knowledge Realty Trust REIT IPO demonstrates strong company performance with revenue growth of 16% to ₹4,146.86 crore in FY 2025, although profit after tax declined by 34.5% to ₹222.5 crore, reflecting some exceptional losses and operational challenges. The REIT manages India’s largest portfolio of 29 Grade A office assets across six major cities, maintaining a high occupancy rate of 91.4% and long lease tenures with multinational tenants, suggesting stable cash flows. The sector outlook is positive, driven by rising demand for commercial office space in India’s key urban centers.

IPO valuation features include a high Price to Book Value typical for REITs, a moderate PAT margin impacted by non-cash losses, and a significant debt-to-equity ratio reflective of capital-intensive real estate investments. Growth prospects lie in rental re-leasing upside, pipeline developments, and strategic acquisitions. Risks involve high leverage, market cyclicality, lease expirations, and regulatory factors. The IPO suits long-term investors seeking steady income and capital appreciation, while short-term investors should consider market and sector volatility. The Knowledge Realty Trust REIT IPO offers exposure to a high-quality diversified office property portfolio with meaningful growth potential.