Bagmane Prime Office REIT Plans IPO Targeting $3.9 Billion Valuation in India

Bagmane Prime Office REIT, backed by Blackstone, is preparing an initial public offering in India targeting a valuation of about 3.9 billion dollars. The IPO aims to raise approximately 40 billion rupees, including newly issued units and a secondary sale by Blackstone. Proceeds are intended for asset acquisitions and corporate purposes. The offering comes amid a subdued 2026 IPO market, with real estate developers showing confidence in urban demand. Bagmane's portfolio includes six Grade A business parks with a gross asset value of 387.9 billion rupees as of mid-2025.