- Blackstone plans to sell up to 25.03% stake in Knowledge Realty Trust for $1.26 billion
- Base offer includes 16.69% stake with option to sell additional 8.34% if demand is strong
- Floor price for sale set at Rs 108 per unit, valuing maximum stake at Rs 11,988 crore
Blackstone is planning to sell up to 25.03% of its stake in Knowledge Realty Trust for around $1.26 billion (Rs 11,988 crore).
The proposed sale will have a base offer of 16.69% stake. Blackstone can sell an additional 8.34% if the offer receives strong demand.
As per Reuters, the floor price for the sale has been set at Rs 108 per unit. At this price, the maximum stake on offer would be worth nearly Rs 11,988 crore.
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Blackstone and its related entities currently hold a 46.51% stake in Knowledge Realty Trust. The proposed sale could therefore bring down its holding significantly.
Knowledge Realty Trust is a real estate investment trust backed by Blackstone and Sattva Group. It owns 29 properties across six Indian cities. The REIT has a gross asset value of 674 billion rupees (Rs 67,400 crore).
The trust was listed on the stock exchanges in August 2025. Its units have gained around 10% since listing.
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The proposed stake sale comes as the stock trades above Blackstone's floor price. The Rs 108 floor price is about 4.4% below Friday's closing price.
Knowledge Realty Trust shares closed at Rs 112.98 on Friday. The stock fell 0.25%, or Rs 0.28, during the session. It moved between an intraday low of Rs 112.30 and a high of Rs 113.57.
The stock has a 52-week high of Rs 129.49 and a 52-week low of Rs 106.53.
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