Blackstone-Backed Knowledge Realty Trust Plans $558 Million IPO

Knowledge Realty Trust is planning an initial public offering of about 48 billion rupees ($558 million) in July, according to people familiar with the matter, in what could be one of the largest real estate investment trust listings in India.

The REIT — backed by Blackstone Inc. and Sattva Developers Pvt. — raised 14 billion rupees in a pre-IPO allotment to domestic high-networth individuals and family offices earlier this month, one of the persons said, asking not to be identified as the discussions are private. Talks on the share-sale timing are still ongoing and no final decision has been taken yet, the people said.