Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
The Competition Commission of India (CCI) has approved a proposed transaction involving Bagmane Prime Office REIT acquiring stakes in several Bagmane Group entities. The deal includes the direct acquisition of Bagmane Developers Private Limited, along with its subsidiary Bagmane Green Power LLP, and the indirect acquisition of Bagmane Rio Private Limited. The transaction also involves the transfer of the commercial asset Luxor @ Bagmane Capital Tech Park through the acquisition structure. Under the deal, the REIT's sponsor group and certain third-party shareholders will receive REIT units in exchange for transferring their shareholdings in the target companies. Bagmane Prime Office REIT was registered with the Securities and Exchange Board of India in July 2025. The approval confirms that the combination does not raise competition concerns.
The Competition Commission of India (CCI) has approved a proposed transaction involving Bagmane Prime Office REIT, allowing it to acquire stakes in several entities belonging to the Bagmane Group. The approval clears an important regulatory requirement under India's competition law framework for mergers and acquisitions. Advertisement
According to the regulator, the transaction involves the direct acquisition of Bagmane Developers Private Limited (BDPL) by the REIT. The acquisition also includes BDPL's wholly owned subsidiary Bagmane Green Power LLP, which is part of the group's diversified operations.
In addition, the REIT will indirectly acquire Bagmane Rio Private Limited through its purchase of BDPL. Another key component of the transaction is the indirect acquisition of the commercial asset Luxor @ Bagmane Capital Tech Park from Bagmane Constructions Private Limited via BDPL. These entities BDPL, Bagmane Rio and Bagmane Green Power are collectively referred to as the target entities in the proposed combination.
As part of the deal structure, the sponsor group of the REIT and certain third-party shareholders of the target entities will receive units of Bagmane Prime Office REIT in exchange for transferring their shareholdings to the REIT. This structure consolidates the ownership of key commercial assets within the REIT platform while allowing existing stakeholders to participate as investors in the trust.
Bagmane Prime Office REIT was registered with the Securities and Exchange Board of India (SEBI) on 15 July 2025 under the REIT Regulations. Real estate investment trusts are investment vehicles that enable investors to participate in income-generating real estate assets, particularly commercial office properties.
The target entities are engaged in commercial real estate development and leasing, along with related activities such as hospitality services and renewable power generation. The portfolio includes office assets associated with the Bagmane Group's technology parks in Bengaluru.
CCI's approval indicates that the regulator did not identify any adverse impact on market competition, enabling the transaction to proceed. The consolidation of assets under the REIT platform reflects the growing role of REIT structures in India's commercial real estate market, allowing developers to unlock capital and attract institutional investors into large office property portfolios.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
