/images/ppid_59c68470-image-17881450273653755.webp)
What is the story about?
Units of Knowledge Realty Trust Ltd. are in focus on Monday, August 31, after Blackstone-linked entities launched an offer for sale (OFS) in it on Friday.
The floor price has been set at ₹108 per unit. The base issue size is of 16.69% of the unit capital of the trust, which amounts to ₹7,992 crore. It also has a greenshoe issue size of 8.34% of the unit capital trust, which is worth up to ₹3,996 crore.
A combination of the base issue and the greenshoe option takes the total issue size to 25.03% of the total unit capital of the trust and the total OFS size to nearly ₹12,000 crore. The OFS will open for Non-retail bidders today and for retail bidders tomorrow.
At the end of the June quarter, sponsor entities held 78.56% stake in Knowledge Realty Trust, while public unit holding was at 21.44%, as per data available on the stock exchanges.
Knowledge Realty Trust, which is India's largest real estate investment trust (REIT) is co-sponsored by the Sattva Group and Blackstone.
An OFS permits existing shareholders to sell their units to investors via the stock exchanges. Unlike a fresh issue, the money raised via the sales goes to the selling unit holders instead of the REIT.
In this case, Blackstone entities are selling the units and the transaction would result in a reduction in their shareholding rather than Knowledge Realty Trust raising fresh capital.
The greenshoe option gives sellers the option to increase the number of units sold if there is sufficient demand.
The units of Knowledge Realty ended the previous session 0.3% down at ₹112.98. They are down 3.9% in the past month and is down 10.9% this year, so far.
Also Read: Indraprastha Gas shares in focus after Delhi CNG price hike by nearly ₹4 per kg
The floor price has been set at ₹108 per unit. The base issue size is of 16.69% of the unit capital of the trust, which amounts to ₹7,992 crore. It also has a greenshoe issue size of 8.34% of the unit capital trust, which is worth up to ₹3,996 crore.
A combination of the base issue and the greenshoe option takes the total issue size to 25.03% of the total unit capital of the trust and the total OFS size to nearly ₹12,000 crore. The OFS will open for Non-retail bidders today and for retail bidders tomorrow.
At the end of the June quarter, sponsor entities held 78.56% stake in Knowledge Realty Trust, while public unit holding was at 21.44%, as per data available on the stock exchanges.
Knowledge Realty Trust, which is India's largest real estate investment trust (REIT) is co-sponsored by the Sattva Group and Blackstone.
An OFS permits existing shareholders to sell their units to investors via the stock exchanges. Unlike a fresh issue, the money raised via the sales goes to the selling unit holders instead of the REIT.
In this case, Blackstone entities are selling the units and the transaction would result in a reduction in their shareholding rather than Knowledge Realty Trust raising fresh capital.
The greenshoe option gives sellers the option to increase the number of units sold if there is sufficient demand.
The units of Knowledge Realty ended the previous session 0.3% down at ₹112.98. They are down 3.9% in the past month and is down 10.9% this year, so far.
Also Read: Indraprastha Gas shares in focus after Delhi CNG price hike by nearly ₹4 per kg
/images/ppid_59c68470-image-178825006893811557.webp)
/images/ppid_59c68470-image-1788150201908633.webp)
