Knowledge Realty Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Knowledge Realty Trust's board approved raising up to INR 1,600 crore through a private placement of 1,60,000 non-convertible debentures (NCDs) with a face value of INR 1 lakh each, to be listed on BSE with a 3-year tenure. Coupon rates will be determined via the electronic book platform, and the issue will be secured by a first-ranking pari passu charge on receivables and Hyderabad properties of its SPV, Devbhumi Realtors Private Limited. The board also cleared a term loan (lease rental discounting) facility of up to INR 1,600 crore from Bajaj Housing Finance, including a Rs 200 crore flexi term loan sub-limit. Additionally, the trust set a long-term cap keeping consolidated net indebtedness below 25% of the latest Gross Asset Value, and approved joining the Indian REITs Association with CEO Shirish Godbole as its nominee.
The combined fund raise of up to Rs 3,200 crore signals expansion or refinancing plans, which can support growth but will add to interest obligations. The 25% debt-to-asset cap indicates disciplined borrowing, which is reassuring for unitholders watching leverage in this newly listed REIT.