CAM, S&R, Khaitan, White & Case act on Knowledge Realty Trust ₹4,800 crore IPO

Blackstone-backed Knowledge Realty Trust has made an initial offering of equity shares aggregating to ₹4,800 crore, comprising a fresh issue of units.

Cyril Amarchand Mangaldas advised Knowledge Realty Trust, its Manager Knowledge Realty Office Management Services Private Limited and the BREP Asia SG L&T Holding (NQ) Pte. Ltd, an affiliate of Blackstone, on this IPO.

The Capital Markets, Corporate, Real Estate, Competition, Finance and Dispute Resolution teams of CAM advised on this IPO.

The Capital Markets team comprised Janhavi Manohar (Partner), Sachin Santuka (Senior Associate), Subham Jain (Senior Associate Designate), Adwait Deshmukh (Associate), Arjun Nair (Associate), Isha Tandon (Associate), Nimisha Sharma (Associate), Parikha Rathi (Associate), Prakhar Jain (Associate), Siddhant Mehta (Associate) and Prerna Sengupta (Associate), with guidance from Yash J. Ashar (Senior Partner) and Kranti Mohan (Partner, Head – REITS and InvITs).

The Corporate team comprised of Reeba Chacko (Senior Partner), S. Harish (Partner), Emil Joseph (Partner), Mohit Gogia (Partner), Trayosha Darapuneni (Partner), Pooranimaa Hariharan (Partner), Aditi Aggarwal (Principal Associate), Varsha Nair (Principal Associate), Anisha Dash (Senior Associate), Amrita Dubey (Senior Associate), Suryanarayana Mohan (Senior Associate), Vidushi Kesarwani (Senior Associate), Achyutha M (Associate), Raghavi Rajagopalan (Associate), Aashna Gupta (Associate), Anish Meduri (Associate), Gouri Meempat (Associate), Muskaan Garg (Associate), Nimrah Rasheed (Associate), Shivam Shekhar (Associate), Swathi Kathi (Associate), Nandini Agrawal (Associate) and Jerrin Mathew (Associate).

The Real Estate team comprised of Abhilash Pillai (Partner), Ashish Jain (Partner), Emil Joseph (Partner), Jaideep Kodali (Partner), Jinal Mehta (Partner), Karan Sharma (Partner), Ritha Ulbyre (Partner), Siddharth Singh (Partner), Pooja Ashwin (Senior Consultant), Anjali Kadam (Consultant), Kripa Sankari (Principal Associate), Shorya Chaudhary (Principal Associate), Pavithra Rao (Senior Associate), Rohan Chugh (Senior Associate), Alampu Kowkrady (Associate), Astha Krishna (Associate), Bhargavi Akanksha (Associate), Januja Gathraj (Associate), Kalyan Chakravarthy (Associate), Poojith Ashok (Associate), and Rushi Panchal (Associate).

The Competition team comprised of Avaantika Kakkar (Partner, Head – Competition Law), Kaustav Kundu (Partner), Mohini Parghi (Associate), Pushkar Singh (Associate) and Parth Mishra (Associate).

The Finance team comprised of Pranav Sharma (Partner), Okram Singha (Partner), Anmol Bhargava (Principal Associate), Jay Shah (Senior Associate), Diksha Bhatt (Associate) and Vedant Agarwal (Associate).

The Dispute Resolution team comprised of Ankoosh K Mehta (Partner, Co-head - White Collar & Investigation), Aviral Sahai (Partner), Aishwarya Wagle (Principal Associate) and Nitya Ravichandra (Associate).

S&R Associates advised Sattva Developers Private Limited, the other sponsor of Knowledge Realty Trust, on this fundraise.

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 of Associates S. Vinayaditya Reddy, Kaveri Varma, Aakriti Jalota, Ameesha Tripathi, Pradhumna Mohan Dixit, and Aastha Bhandari.

Simran Dhir (Head of Competition Practice), Akshat Kulshrestha (Partner) and Associates Sehaj Mahajan and Ritik Mohapatra advised on competition law matters.

Khaitan & Co advised the book running lead managers Kotak Mahindra Capital Company Limited, Axis Capital Limited, BofA Securities India Limited, ICICI Securities Limited, IIFL Capital Services Limited, JM Financial Limited and Morgan Stanley India Company Private Limited, on this IPO.

The core team consisted of Sudhir Bassi (Executive Director), Aayush Mohata (Partner), Subhayu Sen (Partner), Aparna Bagree (Partner), Dipsa Prasanth (Associate), Hrithik Khurana (Associate), Ira Pandya (Associate), Kaushlendra Palawat (Associate), Sairandhri Nawale (Associate) and Sarjana Das (Associate).

The team was supported by Harsh Parikh (Partner), Abhiraj Gandhi (Partner), Rishabh Vora (Counsel), Nirali Shah (Principal Associate), Rahul Agarwal (Senior Associate), Snehil Singhvi (Associate), Nupur Antrolikar (Associate) and Haider Sayyed (Associate) with respect to real estate diligence.

White & Case served as the international legal counsel for the BRLMs.

Knowledge Realty Trust is backed by the Blackstone Sponsor and Sattva Developers Private Limited, together acting as the sponsors to the Trust.

Knowledge Realty Trust is the largest office REIT in India and the second largest office REIT in Asia. The Trust’s portfolio comprises 29 office assets spread across 6 major cities in India, making it the most geographically diverse office REIT in India. Some of the assets under the Trust include One BKC, Sattva Knowledge City, One International Center and Sattva Softzone.

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