A joint venture between Blackstone Inc and India's Sattva Group has filed a draft prospectus for the country's largest real estate investment trust (REIT) initial public offering. The joint venture, Knowledge Realty Trust, aims to raise up to 62 billion rupees ($712.55 million). Blackstone owns 55% of the venture, while Sattva holds a 45% stake. The REIT will be the largest in India, with Bank of America and Morgan Stanley among the bookrunners. Sattva Group is a real estate conglomerate headquartered in Bengaluru, with operations across seven cities in India. This move comes after Blackstone exited its investment in India's first publicly listed REIT, Embassy Office Parks, in December 2023. The filing of the draft prospectus marks a significant development in India's real estate sector, with the potential to attract significant investment. The REIT's initial public offering is expected to be closely watched by investors and industry experts alike. With its large scale and prominent backers, the Knowledge Realty Trust REIT is poised to make a major impact on India's real estate market.