Blackstone-linked entities to sell ₹11,988cr stake in Knowledge Realty Trust
Business
Entities linked to Blackstone are selling a big chunk of their stake, up to 25.03%, in Knowledge Realty Trust, India's largest real estate investment trust.
The sale could be worth ₹11,988 crore if fully taken up, with the floor price set at ₹108 per unit.
It's one of the biggest moves in India's real estate market this year.
Shirish Godbole upbeat on leasing
This isn't just about cashing out: entities linked to Blackstone are trimming their holdings while the REIT is seeing strong demand for office space.
CEO Shirish Godbole sounds upbeat, expecting leasing to beat last year's 3.5 million-square-foot figure.
With 1.4 million square feet already leased this year and plans for more growth, Knowledge Realty Trust looks set for an active run ahead.