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The proposed sale by Blackstone represents a significant divestment from its Indian REIT holdings, potentially indicating a shift in investment strategy or a realization of gains. Investors will monitor the subscription levels and final pricing for insights into market demand for the REIT’s units. The offer’s oversubscription option suggests Blackstone’s confidence in market appetite. The performance of Knowledge Realty Trust post-listing, with its 10% gain, could attract investor interest, but the sale itself may introduce some price volatility.
Blackstone has put forward a proposal to divest up to 25.03% of its stake in the Indian real estate investment trust (REIT), Knowledge Realty Trust, through an offer for sale, according to an exchange notice on Friday.
The proposed sale includes a base offering of a 16.69% stake, with an additional option to sell a further 8.34% if the offer is oversubscribed.
A floor price of 108 Indian rupees per unit has been established for the offering. This price point values the maximum potential stake sale at 119.88 billion rupees, equivalent to approximately $1.26 billion.
Knowledge Realty Trust, a venture co-backed by Blackstone and Indian real estate firm Sattva Group, manages a portfolio of 29 assets spread across six cities. The REIT reports a gross asset value of 674 billion rupees, as detailed on its website. Currently, Blackstone and its affiliated entities hold a 46.51% interest in Knowledge Realty Trust.
The REIT debuted on stock exchanges in August 2025 and has seen its unit price appreciate by approximately 10% since its listing.
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