New Delhi, March 7 -- A real estate investment trust sponsored by asset manager Blackstone Group and Bengaluru developer Sattva Group filed its draft papers with the market regulator for an initial public offering (IPO) to raise around Rs.7,000 crore.

The Knowledge Realty Trust has a portfolio of 30 Grade A office assets across 48 million sq. ft., mostly concentrated in Bengaluru, Hyderabad and Mumbai. It will be majority owned by Blackstone at 55% while Sattva Group will hold the rest, the company said in its offer document filed with the Securities and Exchange Board of India (Sebi).

It will be the second largest real estate investment trust (Reit) in Asia by leasable area, and the largest in the country by net operating income (NOI) ...