Knowledge Realty Trust units list with 3% premium on NSE

Knowledge Realty Trust units list with 3% premium on NSE.

Knowledge Realty Trust units listed with a premium of 3 percent on the National Stock Exchange (NSE) on Monday. The Rs 4,800-crore REIT initial public offering (IPO) got subscribed 12.48 times.

The units of Knowledge Realty Trust, backed by realty firm Sattva Group and Blackstone, listed with a premium of 4 percent at Rs 104 on the BSW. The company had set a price band of Rs 95 to Rs 100 per unit for its initial share sale.

At the NSE, it listed at Rs 103, a premium of 3 per cent. The company's market valuation stood at Rs 48,210.79 crore.

The IPO was entirely a fresh issuance of units by Knowledge Realty Trust.

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KRT owns over 46 million sq ft of office assets across 29 assets in six cities, primarily Mumbai, Bengaluru, and Hyderabad.

The assets include One BKC and One World Center in Mumbai, Knowledge City, and Knowledge Park in Hyderabad and Cessna Business Park and Sattva Softzone in Bengaluru.

There are four other listed REITs (real estate investment trusts) in India -- Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust.

Bengaluru-based Sattva Developers has so far constructed 74 million sq ft across seven Indian cities in commercial, residential, co-living, co-working, hospitality, and data centre sectors.

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