The Blackstone-Sattva joint venture, Knowledge Realty Trust, has been reported to plan a ₹4,800 crore IPO in August 2025, according to posts on X. This REIT, with Blackstone holding a 55% stake and Sattva Group 45%, aims to be India’s largest office REIT by net operating income and gross asset value, managing a portfolio of 48 million square feet across 30 Grade A office assets in six cities, including Mumbai, Bengaluru, and Hyderabad. Approximately ₹1,400 crore has been raised in a pre-IPO round, with proceeds intended for debt repayment and general corporate purposes. The portfolio boasts a 90% occupancy rate, with 76% of tenants being multinational corporations and 45% from global capability centers. However, earlier reports from March 2025 indicated a larger IPO size of ₹6,200 crore to ₹7,500 crore, suggesting potential adjustments in the final amount. The IPO is expected to be managed by bookrunners like Bank of America and Morgan Stanley, with a listing targeted for the BSE and NSE.