Knowledge Realty Trust IPO GMP: Updates & Market Sentiment
India’s Largest Office REIT IPO Opens:
Knowledge Realty Trust (KRT), backed by Blackstone and Sattva Group, opened its ₹4,800 crore REIT IPO on August 5, 2025, with a price band of ₹95–100 per unit. This marks India’s largest office REIT by gross asset value (GAV) and net operating income (NOI).
Before the public issue opened:
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₹1,620 crore was raised from anchor investors.
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An additional ₹1,200 crore came through strategic placements.
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Total pre-IPO capital raised: ₹2,820 crore.
KRT’s real estate portfolio spans 29–30 premium office properties, totaling 46–48 million sq ft, in high-demand locations such as Bengaluru, Mumbai, Hyderabad, Gurugram, Chennai, Ahmedabad, and GIFT City.
What is GMP and How Is the KRT IPO Performing in Grey Market?
Grey Market Premium (GMP): What It Means for Investors
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GMP refers to the unofficial market premium at which IPO shares are bought and sold before their official listing.
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A high GMP typically indicates strong demand and possible listing gains.
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A neutral or zero GMP reflects cautious sentiment and expectation of fair value pricing.
KRT IPO GMP Today: Stable at ₹0
As of August 5, 2025:
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The GMP for Knowledge Realty Trust IPO is ₹0.
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This implies shares are trading at par with the upper end of the price band (₹100) in the grey market.
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Investors are showing measured optimism with no major speculative surge.
KRT IPO Snapshot: Numbers You Should Know
| Component | Details |
|---|---|
| IPO Size | ₹4,800 crore |
| Price Band | ₹95 – ₹100 per unit |
| Anchor Investment | ₹1,620 crore |
| Strategic Investment | ₹1,200 crore |
| Total Pre-IPO Funds | ₹2,820 crore |
| Portfolio Size | 29–30 office assets (~46–48 million sq ft) |
| Occupancy Rate | ~91.4% as of March 2025 |
| Net Operating Income (FY25) | ₹3,432 crore |
| Gross Asset Value (GAV) | ~₹62,000 crore |
| Key Cities Covered | Mumbai, Bengaluru, Hyderabad, Gurugram, Chennai, Ahmedabad, GIFT City |
| Expected Listing Date | Around August 18, 2025 |
Top Reasons to Watch This IPO Closely
Advantages of Knowledge Realty Trust
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Largest REIT in India by asset size and NOI.
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Strong backing from Blackstone and Sattva Group.
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High-quality tenants including MNCs and Global Capability Centers (GCCs).
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Low leverage (~19% debt-to-GAV), offering headroom for future growth.
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Forecasted dividend yield of 7.2–7.7%, appealing to income-focused investors.
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Portfolio concentrated in Grade A properties across Tier-1 cities.
Caution Points for Investors
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Zero GMP indicates lack of speculative interest; listing gains may be modest.
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REITs are yield-based—returns depend more on rental income and occupancy than capital appreciation.
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Macroeconomic conditions (interest rates, office demand) will influence long-term performance.
Investor Checklist: Is KRT IPO Right for You?
Here’s a quick decision-making list for potential investors:
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Are you looking for steady dividend income through REITs?
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Are you comfortable with low speculative gains but high asset security?
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Are you looking to diversify with exposure to commercial real estate?
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Do you understand the long-term nature of REIT investments?
If you answered "yes" to most of the above, the KRT IPO could be a strategic addition to your portfolio.
Final Thoughts: A High-Quality REIT with Long-Term Potential
The Knowledge Realty Trust IPO brings a strong real estate portfolio, trusted sponsors, and a structured revenue model via leasing. While the current GMP at ₹0 indicates minimal speculative activity, the offering is fundamentally solid with consistent income potential.
Investors seeking stable returns from high-end commercial real estate should monitor this IPO closely. Listing is expected around mid-August 2025, and the market will soon show whether KRT lives up to its anticipation.
