Shares of Knowledge Realty Trust REIT, backed by Blackstone and Sattva Developers, made a positive debut on bourses today. On the NSE, Knowledge Realty Trust share price today opened at ₹103, which is 3% higher than the issue price of ₹100. On BSE, Knowledge Realty Trust share price opened at ₹104 per share, 4% higher than the issue price.
Knowledge Realty Trust REIT IPO had a subscription period that ran from Tuesday, August 5 until Thursday, August 7. Knowledge Realty Trust REIT IPO price band was fixed at ₹95 to ₹100 per unit. Bids could be made for a minimum of 150 units and in multiples of 150 units thereafter.
Knowledge Realty Trust IPO subscription status on the third bidding day was 10.73 times, as per BSE data. The Other Investors segment was booked 15.51 times, while Institutional Investors portion was subscribed 6.75 times.
Knowledge Realty Trust REIT raised ₹1,620 crores from anchor investors and is aiming for an allocation of ₹1,200 crores ahead of its initial public offering. Prior to this, the company had effectively concluded a pre-IPO funding round that garnered ₹1,400 crores.
Knowledge Realty Trust REIT IPO details
The Knowledge Realty Trust IPO included a fresh issuance of Units valued at up to ₹4,800 crore.
The funds collected from this issuance, totaling ₹4,640 crores, are intended to be used for either partial or complete repayment or prepayment of certain financial obligations of the Asset SPVs and Investment Entities, while the remaining funds will be allocated for general corporate activities.
The lead managers for the offering consist of Kotak Mahindra Capital Company Limited, Axis Capital Limited, BofA Securities India Limited, ICICI Securities Limited, IIFL Capital Services Limited (previously known as IIFL Securities Limited), JM Financial Limited, Morgan Stanley India Company Private Limited, and SBI Capital Markets Limited. Kfin Technologies Limited serves as the registrar for the issue.
Knowledge Realty Trust GMP
Knowledge Realty Trust GMP is +2. This indicates Knowledge Realty Trust share price were trading at a premium of ₹2 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Knowledge Realty Trust share price was indicated at ₹102 apiece, which is 2% higher than the IPO price of ₹100.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.’
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