Sattva Developers and Blackstone sponsored Knowledge Realty Trust REIT, owner and manager of high-quality office portfolio in India, has filed its Draft Offer Document with the regulator to raise an aggregate amount of Rs 6,200 cr via an issue of units to the public.The Sponsors to the issue are Sattva Developers Private Limited and BREP Asia SG L&T Holding (NQ) Pte. Ltd. Axis Trustee Services Limited is the trustee and Knowledge Realty Office Management Services Private Limited (Formerly known as Trinity Office Management Services Private Limited) is the manager to the issue.The Issue will be made through the book building process wherein not more than 75% of the issue (excluding the strategic investor portion shall be available for allocation on a proportionate basis to institutional investors and not less than 25% of the issue (excluding the Strategic Investor Portion) shall be available for allocation on a proportionate basis to Non-Institutional Investors.The Net Proceeds from the issue to the extent of Rs 5800 crores will be utilized for partial or full repayment or prepayment of certain financial indebtedness of the Asset SPVs and the Investment Entities; General purposes.Knowledge Realty Trust REIT upon listing will be the largest office REIT in India by Gross Asset Value (GAV) and Non-Operating Income (NOI). Also, it is set to become the second-largest office REIT in Asia and among the largest globally in terms of leasable area. As of September 30, 2024, its portfolio includes 30 Grade A office properties spanning 48.1 million square feet (msf), consisting of 37.1 msf of completed space, 2.8 msf under construction, and 8.2 msf earmarked for future development.The portfolio comprises six city-center office buildings and 24 business parks or centers, featuring several best-in-class developments in their respective sub-markets and across India, as noted in the CBRE Report referenced in the draft offer document. Upon listing, it will hold the largest city-center office portfolio among listed Indian office REITs in terms of both leasable area and asset count. The properties accommodate a diverse mix of tenants, including major multinational corporations, Fortune 500 companies, Global Capability Centers (GCCs), and top domestic firms.The assets are strategically located across six cities—Hyderabad, Mumbai, Bengaluru, Chennai, Gurugram, and GIFT City in Ahmedabad. A substantial 95.8% of the portfolio’s Gross Asset Value (GAV) as of September 30, 2024, is concentrated in Bengaluru, Hyderabad, and Mumbai, India’s top-performing office markets based on market size and absorption levels, collectively referred to as its “Portfolio Core Markets.”BREP Asia SG L&T Holding (NQ) Pte. Ltd., a portfolio company of Blackstone Inc. and a co-sponsor of Knowledge Realty Trust, serves as the “Blackstone Sponsor.” Blackstone, the world’s largest alternative asset manager, overseeing assets worth over USD 1.13 trillion across real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries, and hedge funds.Sattva Developers Private Limited, part of the Sattva Group, is recognized as one of India’s leading real estate developers, has over three decades of experience, has developed approximately 74 million square feet of real estate, with presence across seven Indian cities.Revenue from operations for the Fiscal 2024, and 2023 was Rs 3,339.39 crs, and Rs 2,900.30 crs, respectively. Profit after tax for the Fiscal 2024, and 2023 stood at Rs 336.44 crs and 218.49 crs respectively.For the six months ended September 30, 2024, revenue from operations stood at Rs 1,881.63 crs. Lead Managers to the Issue are Kotak Mahindra Capital Company Limited, Axis Capital Limited, BofA Securities India Limited, ICICI Securities Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), JM Financial Limited, Morgan Stanley India Company Private Limited and SBI Capital Markets Limited. Registrar to the Issue is Kfin Technologies Limited. The Units are proposed to be listed on BSE Limited and National Stock Exchange of India Limited.