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Blackstone plans partial sale of its India REIT stake for up to $1.3B
The offering would cut Blackstone's stake to about 21.5% from 46.5% if the oversubscription option is fully exercised.
Blackstone Inc. is offering to sell up to 25% of its stake in India Knowledge Realty Trust, a real estate investment trust it backs with local partner Sattva Group, in a deal that could raise about $1.25 billion to $1.3 billion, according to Reuters and Bloomberg cited by Yahoo Finance.
The trust set a floor price of 108 rupees per unit, a 4.7% discount to the prior close and a 13% discount to net asset value. The offer ran August 31 for institutional investors and September 1 for retail investors.
Bloomberg later reported the share offering was fully subscribed and upsized to raise about $1.3 billion, described as the largest share sale by a private shareholder in India via this method. If the oversubscription option is fully exercised, Blackstone's stake would fall to about 21.5% from 46.5%, while Sattva Group would become the trust's largest shareholder with about 32%.
Knowledge Realty Trust holds 29 properties across six Indian cities and has gained roughly 10% since its August 2025 listing. The sale is intended to let Blackstone monetize gains and recycle capital, while it retains continued exposure through its remaining stake alongside Sattva.