Blackstone-backed developer shortlists banks for ₹5,000-crore Reit listing
Development comes behind the wave of real estate developers, both housing and commercial offices, and touches public markets to gather funds to increase the investor’s interest in REIT.
The first person mentioned above because the discussions were special, “Bankers were asked to go to the field for the public offering last month.” This person added that four investment banks have been on the short list – Kotak Mahindra, Axis Capital, Citi and JP Morgan.
According to the second person, Bengaluru -based company La4,500-5,000 crore from the public offering. “Blackstone, which has a 10% stake in the company, is likely to sell a small percentage during the public offering,” the second person said.
Global PE company Blackstone, in December 2024, 10% of the company to $ 200-250 million in the company and approximately 2-2.5 billion dollars or value La20,000 crore.
Bagmane Developers aims to present draft documents with the Indian securities and Indian Stock Exchange (Sebı) until the fourth quarter of the existing fiscal year, and these people will target the list for a while next year.
For Bagmane developers, spokespersons PVT Ltd, Axis Capital and Kotak Mahindra Capital did not answer queries. Blackstone, Citi and JP Morgan spokesman refused to comment.
“Bagmane developers have always maintained a low profile, but can be compared with the largest commercial developers in the country,” he said, a third person who is familiar with plans, mainly points to more than 30 million square meters of operational office parks in Bengaluru.
“Blackstone will add more reliability to investors as a minority partner, but Bagmane has a strong management team and is well equipped to lead GYO.
Four -year Bagmane will be the third developer from Bengaluru after the Embassy Group and Sattva Group. It is known for some of the largest business parks in Bengaluru and has built its portfolio on its own market. However, in other cities, the real estate is slowly expanding the footprint.
Recently, a 124,000 square meter railway landed in Dwarka’s Dwarka. La1,530 Crore for a mixed development project. In addition, the third person mentioned above also investigates the acquisition opportunities in other cities.
Shobhit Agarwal, General Manager and General Manager of Anarock Capital Advisors, says Reits is currently a proven and proven product on the stock market.
“Bagmane today has one of the largest office portfolios of Bagmane, and Blackstone has institutionalized India’s commercial real estate market alone.” He said. “They have created the GYO product in India and pioneered with the participation of all GYO public offers so far, except for Brookfield India GYO.”
Reits appeared in 2019 with Embassy Office Parks Reit, supported by Embassy Group and Blackstone. There are currently four REITs listed in India – Brookfield India Real Estate Guven, Embassy Office Parks REIT, MindSpace Business Parks GYO and Nexus Select Trust, the only retail REIT that is listed.
Four REITs work on Class A offices and retail real estate in more than 128.9 million square meters in India’s key centers.
Meanwhile, Whop Realty Trust, another REIT sponsored by Blackstone and Sattva Group, launched his IPO on Tuesday. It has a portfolio of 46 million square meters.
According to the Indian GYO Association (IRA), an industrial organ, the country’s GYO market exceeds the gross assets (AUM) under management La1.63 trillion, with the united market value LaAs of May 14, 2025, 98,000 crore.
