Blackstone-Backed Bagmane Group to File DRHP for Rs 4,000 Cr REIT IPO Soon

• Blackstone-backed Bengaluru developer Bagmane group plans to file DRHP for a Rs 4,000 crore REIT IPO soon.
• The REIT will comprise 20 million sq ft of office properties in Bengaluru, with a gross asset value of Rs 40,000 crore.
• This will be India's fifth office REIT, following Embassy Office Parks REIT, Mindspace Business Parks REIT, Brookfield India Real Estate Trust, and Knowledge Realty Trust.
• Bagmane Group, founded in 1996, is a major player in Bengaluru's office market, serving tech and enterprise clients like Google, Amazon, and Microsoft.
• Its portfolio includes prominent properties like Bagmane Tech Park, Bagmane World Technology Centre, and Bagmane Constellation Business Park.

Why It Matters: Bagmane, backed by Blackstone, is set to launch a significant Rs 4,000 crore REIT IPO for its Bengaluru office portfolio.