IPO-bound Bagmane Reit eyes acquisitions, bets on strong GCC demand

The IPO, which will begin on May 5, includes the issuance of new shares worth ₹2,390 crore and an offer for sale (OFS) worth ₹1,015 crore by a Blackstone subsidiary. Proceeds from the new shares will be used to partially finance the acquisition of Luxor in Bagmane Capital Tech Park, a one-million-square-foot completed asset, and a 93% stake in Bagmane Rio Business Park, a 1.1-million-square-foot leased building.