Blackstone-Backed Bagmane Group Plans ₹4,000 Cr REIT IPO, Papers Soon

• Blackstone-backed Bagmane Group plans to launch its first Real Estate Investment Trust (REIT) IPO, aiming to raise approximately ₹4,000 crore.
• The Bengaluru-based developer may file draft papers with SEBI this week for the IPO, which will be India's fifth office REIT.
• The REIT portfolio comprises 20 million square feet of commercial office space in Bengaluru, with a gross asset value of ₹40,000 crore.
• Blackstone acquired a minority stake in this REIT portfolio in a pre-IPO round in December 2024, reinforcing its involvement.
• Bagmane Group, founded in 1996, houses major companies like Google, Microsoft, and Amazon in its Bengaluru office parks.

Why It Matters: Blackstone-backed Bagmane Group is set to launch a ₹4,000 crore REIT IPO this week.