Blackstone offers to sell up to 25% of India's Knowledge REIT for over $1 billion (updated)
UPDATE 1-Blackstone offers to sell up to 25% of India's Knowledge REIT for over $1 billion Adds details throughout
BENGALURU, Aug 28 (Reuters) - Blackstone BX.N has proposed to sell up to 25.03% of Indian real estate investment trust Knowledge Realty Trust KNOE.NS in an offer for sale, an exchange notice showed on Friday.
The sale comprises a base offer of 16.69% stake, with an option to sell 8.34% more in case of oversubscription.
Floor price has been set at 108 rupees per unit, valuing the total stake that could be sold at 119.88 billion rupees ($1.26 billion).
Knowledge Realty Trust, backed by Blackstone and Indian real estate firm Sattva Group, owns 29 assets across six cities and has a gross asset value of 674 billion rupees, according to its website.
Blackstone and related entities now hold 46.51% in the REIT.
Knowledge Realty Trust, which listed on exchanges in August 2025, has gained about 10% since then.
($1 = 95.3775 Indian rupees)
(Reporting by Nishit Navin; Editing by Mrigank Dhaniwala and Sahal Muhammed)
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Brief: Blackstone Real Estate Partners Asia Proposes To Sell Up To 25.03% Unit Capital In Knowledge Realty Trust Via OFS--BSE
Blackstone offers to sell up to 25% of India's Knowledge REIT for over $1 billion (updated)
Blackstone proposes to sell up to 25.03% stake in India's Knowledge Realty Trust
Brief: Knowledge Realty Trust Says June-Quarter Consol Profit 2.51 Billion Rupees