Blackstone is offering to sell as much as a 25.03 percent stake in India’s Knowledge Realty Trust through an offer for sale that could raise approximately INR 119.88 billion ($1.26 billion), according to Reuters.
The offering includes a base stake of 16.69 percent, with an additional 8.34 percent available if the offer is oversubscribed. The floor price has been set at INR 108 per unit.
Blackstone and affiliated entities currently own approximately 46.5 percent of Knowledge Realty Trust. The trust is co-sponsored by Blackstone and Indian real estate developer Sattva Group.
Knowledge Realty Trust owns 29 properties across six Indian cities, with a gross asset value of approximately INR 674 billion ($7.1 billion), according to Reuters.
The offer opened Aug. 31 for nonretail investors, with retail investors scheduled to participat
