Knowledge Realty Trust is preparing for what is anticipated to be India's largest Real Estate Investment Trust (REIT) initial public offering (IPO). With backing from Blackstone Inc. and Sattva Developers, the REIT has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise approximately ₹6,200 crore.
Cyril Amarchand Mangaldas (CAM), S&R Associates, White & Case Pte Ltd and Khaitan & Co are advising various stakeholders on this transaction.
CAM is serving as domestic legal counsel to Knowledge Realty Trust and the Blackstone Sponsor in connection with the proposed transaction. The portfolio consists of 30 Grade A office assets, totaling 48.1 million square feet as of September 30, 2024, and spanning six major cities: Hyderabad, Mumbai, Bengaluru, Chennai, Gurugram, and GIFT City, Ahmedabad.
Over 50 lawyers from CAM across several practices including General Corporate, Capital Markets, Real Estate, Banking and Finance, Competition Law and Disputes are involved in the transaction.
The General Corporate team was led by Partners, Reeba Chacko, S. Harish, Emil Joseph, Mohit Gogia, Trayosha Darapuneni and Pooranimaa Hariharan, with assistance from Aditi Aggarwal, Varsha Nair, Anisha Dash, Darshna Vyas, Amrita Dubey, Suryanarayana Mohan, Vidushi Kesarwani, Raghavi Rajagopalan, Aashna Gupta, Nityesh Dadhich, Shivam Shekhar, Nandini Agarwal, and Sebin Sabastian.
The Capital Markets team was lead by Partners, Yash J. Ashar and Janhavi Manohar with assistance from Adwait Deshmukh, Sachin Santuka, Subham Jain, Arjun Nair, Prakhar Jain, Simran Doshi, Parikha Rathi, Prerna Sengupta and Nimisha Sharma.
The Real Estate team was led by Partners Abhilash Pillai, Ashish Jain, Emil Joseph, Siddharth Singh and Jinal Mehta with assistance from Jaideep Kodali, Karan Sharma, Ritha Ulbyre, A. Mamatha, Mamtaj, Kripa Shankari, Shorya Choudhary, Pooja Ashwin, Neha Shah, Pavithra Rao, Deepika Nagaraja, Kalyan Chakravarthy, Rohan Chugh, Madhurashree Rajkumar, Astha Krishna, Rishi Panchal, Januja Shukla and Anjali Kadam.
The firm's Banking and Finance team was led by Partners, Santosh Janakiram, Pranav Sharma and Okram Singha with assistance from Anmol Bhargava and Jay Shah.
The Competition team was led by Partners, Avaantika Kakkar and Kaustav Kundu with assistance from Swaha Sinha, Mohini Parghi, Pushkar Singh and Parth Mishra.
The Dispute Resolution team led by Sharan Kukreja, Partner with assistance from Tanisha Sunil, Bhairav Charantimath and Varsha Divakar.
S&R Associates is serving as the Indian legal counsel for Sattva Developers.
The Capital Markets aspects of the transaction are led by Partners Sandip Bhagat and Pratichi Mishra, supported by Associates Siddharth Urs, Anmol Kanodia, and Shiv Kumar Sharma.
The M&A aspects are spearheaded by Partner Meher Mehta, with a team comprising Associate S. Vinayaditya Reddy, Kaveri Varma, Aakriti Jalota, Ameesha Tripathi, Pradhumna Mohan Dixit, and Aastha Bhandari.
White & Case Pte Ltd is acting as the International Counsel for the Book Running Lead Managers (BRLMs) to the issue.
Khaitan & Co is acting as the Indian counsel to the BRLMs to the issue.
As per the Draft Red Herring Prospectus (DRHP) Kotak Mahindra Capital, Axis Capita, BoFA Securities, IIFL Capital Services, JM Financial, Morgan Stanley and SBI Capital are the BRLMs to the issue.