06:49 AM EDT, 06/17/2025 (MT Newswires) -- BlackRock ( BLK ) and Sattva Developers-backed Knowledge Realty Trust is preparing for an initial public offering of about 48 billion Indian rupees ($558 million) as early as July, Bloomberg reported Tuesday, citing people familiar with the matter.

The report said the REIT has already raised 14 billion Indian rupees in a pre-IPO round from domestic high-net-worth individuals and family offices, adding that the final details, including timing, are still under discussion, and no formal decision has been made.

The IPO would be India's fifth REIT listing, following Embassy Office Parks REIT, Mindspace Business Parks REIT, Brookfield India Real Estate Trust, and Nexus Select Trust, according to Bloomberg.

Blackstone did not immediately respond to MT Newswires' request for comment, while Knowledge Realty Trust could not be reached immediately.

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