Knowledge Realty Trust sponsors to sell 25.03% stake via offer for sale

Sponsor entities of Knowledge Realty Trust plan to sell up to 111 crore units, or 25.03% of the REIT's unit capital, through an offer for sale on stock exchanges. The move aims to comply with SEBI's minimum public unitholding requirements, with the offer opening for non-retail investors on 31 Aug 20

Sponsor group entities of Knowledge Realty Trust propose to sell up to 111 crore units, representing 25.03 per cent of the REIT's unit capital, through an offer for sale on stock exchanges, the trust said in a BSE filing. The sale is being undertaken to achieve the minimum public unitholding requirement prescribed under the SEBI Real Estate Investment Trusts Regulations.

The sellers are BREP Asia SG L&T Holding (NQ), BREP Asia SG DRPL Holding (NQ), BREP Asia II Indian Holding Co IV (NQ) and BREP Asia II Indian Holding Co VII (NQ). The base offer comprises up to 74 crore units, representing 16.69 per cent of the unit capital. The sellers also have an oversubscription option to sell up to an additional 37 crore units, representing 8.34 per cent of the unit capital. If the oversubscription option is fully exercised, the total offer size will be 111 crore units, or 25.03 per cent of the trust's unit capital.

At the floor price of ₹108 per unit, the base offer is valued at about ₹7,992 crore. If the oversubscription option is fully exercised, the total offer size at floor price would be about ₹11,988 crore.

The offer will open for non-retail investors on 31 Aug 2026. Retail investors, and non-retail investors who choose to carry forward their unallotted bids, will be able to participate on 1 Sep 2026. A minimum of 10 per cent of the offer units will be reserved for retail investors, subject to receipt of valid bids. A minimum of 25 per cent of the offer units will be reserved for mutual funds and insurance companies, subject to receipt of valid bids at or above the floor price. No single bidder, other than mutual funds and insurance companies, will be allocated more than 25 per cent of the offer units.

IIFL Capital Services will act as the settlement broker. Axis Capital, IIFL Capital Services, JM Financial Institutional Securities, Kotak Securities, 360 ONE Capital Market, 360 ONE Distribution Services, SBICAP Securities and Sunidhi Securities and Finance are the sellers' brokers for the offer.