Knowledge Realty Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Knowledge Realty Trust (KRT) has allotted 1,60,000 secured, listed, rated, redeemable Non-Convertible Debentures (NCDs) on a private placement basis at a face value of INR 1,00,000 each, aggregating to INR 1,600 Crores. The NCDs carry a coupon of 7.20% per annum with a 3-year tenure maturing on 26 September 2028 and will be listed on BSE. The issue is secured by a first-ranking pari passu charge on identified bank accounts, receivables, and immovable properties at Hyderabad held by Devbhumi Realtors Private Limited (the SPV), along with a corporate guarantee. Allottees include several mutual fund schemes from Aditya Birla Sun Life, ICICI Prudential, and Kotak Mahindra, as well as Barclays Merchant Bank Singapore Limited.
KRT has successfully raised INR 1,600 Crores of debt at a competitive 7.20% coupon from marquee institutional investors, which can fund acquisitions, refinancing, or capex but will add to interest outflows and refinancing obligations by September 2028. Unitholders may see a near-term impact on distributable cash flow depending on the yield earned on deployment of these funds.