Knowledge Realty Trust Launches OFS to Raise Up to Rs 11,988 Crore
· Business · LiveMint, Economic Times
Units of Knowledge Realty Trust Ltd. declined 2.5 percent on August 31 after Blackstone-linked entities launched an offer for sale. The floor price for the OFS is set at ₹108 per unit, with a base issue size representing 16.69 percent of the trust's unit capital to raise ₹7,992 crore. The transaction includes a greenshoe option of 8.34 percent worth up to ₹3,996 crore, potentially bringing the total transaction value to ₹11,988 crore. The share sale runs across August 31 and September 1 on the BSE and NSE to meet regulatory minimum public unitholding requirements. Knowledge Realty Trust is co-sponsored by the Sattva Group and Blackstone as India's largest real estate investment trust.
Why it matters
The large-scale offer for sale by Blackstone entities impacts unit prices and helps the real estate investment trust comply with public unitholding norms.
Read the original report — LiveMint
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