Knowledge Realty Trust IPO: Check Final Day Subscription, GMP

Knowledge Realty Trust Ltd.'s initial public offering has entered in its final day of bidding today. The IPO was subscribed 1.20 times on day one and 3.42 times on day two.

The price band for the Rs 4,800-crore REIT has been fixed between Rs 95 and Rs 100 per unit. This IPO is entirely a fresh issuance of units by Knowledge Realty Trust.

Knowledge Realty Trust, sponsored by realty firm Sattva Group and Blackstone, on Monday garnered Rs 1,620 crore from anchor investors ahead of its REIT public issue opening for public subscription.

Upon listing, Knowledge Realty will be the largest office REIT in the country based on gross asset value of Rs 59,445 crore as of the September quarter, according to a company's draft offer document. Knowledge Realty will be the fifth REIT to be launched in India and the fourth to be backed by the buyout firm.

• Issue opens: Aug.5.

• Issue closes: Aug.7.

• Issue price: Rs 95-100 per unit.

• Lot size: 150 shares.

• Issue type: Book building REITs

The issue has been subscribed 5.40 times as of 12:27 p.m.

• Qualified institutional buyers: 1.4 times.

• Other investors: 10.19 times.

The grey market premium for Knowledge Realty Trust IPO stood at Rs 1.5, as of 10:31 a.m. on Aug. 7, according to InvestorGain. The stock's estimated listing price is seen at Rs 101.5, according to Investorgain. This implies a 1.5% premium.

GMP or grey market price is not an official indicator and is based on market speculation.