Shardul Amarchand Mangaldas (SAM), Cyril Amarchand Mangaldas (CAM) and White & Case advised on Bagmane REIT’s INR 3405 Crore IPO.

Bagmane Prime Office REIT completed its initial public offering aggregating to approximately INR 34,050 million.

The offering comprised a fresh issue aggregating to approximately INR 23,900 million and an offer for sale aggregating to approximately INR 10,150 million by BREP Asia III India Holding Co VIII Pte. Ltd., an affiliate of Blackstone Inc..

The IPO witnessed an aggregate overall demand of over 23.70 times, including institutional investor demand exceeding 25 times and non-institutional investor demand exceeding 21 times. The units of Bagmane REIT were listed on the NSE and BSE on May 14, 2026.

Shardul Amarchand Mangaldas & Co. acted as Indian legal counsel to Bagmane REIT, its investment manager and sponsor in relation to the formation and IPO.

The transaction team was led by Partners Nikhil Naredi and Rohit Tiwari, with support from Senior Associate Harini Jambunathan and Associates Mathangi K, Pritha Bhangale and Abhit Tanay.

Partner Arjun Perikal and Principal Associate Andre Peter from the Bengaluru office also assisted on the transaction.

Cyril Amarchand Mangaldas advised the book running lead managers on the IPO.

The CAM transaction team included Janhavi Manohar, Veena Raghav, Arjun Nair, Anna Kallivayalil, Sanjana Prasad, Parameswaran Chidamparam and Medha Biswas.

Partner Priyadarshini Rao, with support from Senior Associate Saksham Khokhar, and Associate Molika Agrawal, advised Blackstone in their capacity as a Selling Unitholder on this transaction.

White & Case LLP served as international legal counsel to the book running lead managers.