Bagmane REIT Aims for $3.9B Valuation in India IPO
Blackstone-backed Bagmane Prime Office REIT is gearing up for an initial public offering (IPO) as early as next month, aiming for a valuation of approximately $3.9 billion, sources indicate. The Bengaluru-based real estate firm has received regulatory approval and commenced investor roadshows. Sources requested anonymity due to the confidential nature of the information. The proposed IPO seeks to raise 40 billion rupees ($440 million), which includes up to 30 billion rupees in new units and a secondary sale of 10 billion rupees by Blackstone, as detailed in the IPO prospectus that was filed in December. Discussions are ongoing, and details…