Blackstone offers to sell up to 25% of India's Knowledge REIT for over $1 billion

BENGALURU, Aug 28 (Reuters) - Blackstone BX.N has proposed to sell up to 25.03% of Indian real estate investment trust Knowledge Realty Trust KNOE.NS in an offer for sale, an exchange notice showed on Friday.

The sale comprises a base offer of 16.69% stake, with an option to sell 8.34% more in case of oversubscription.

Floor price has been set at 108 rupees per unit, valuing the total stake that could be sold at 119.88 billion rupees ($1.26 billion).

Knowledge Realty Trust, backed by Blackstone and Indian real estate firm Sattva Group, owns 29 assets across six cities and has a gross asset value of 674 billion rupees, according to its website.

Blackstone and related entities now hold 46.51% in the REIT.

Knowledge Realty Trust, which listed on exchanges in August 2025, has gained about 10% since then.

($1 = 95.3775 Indian rupees)