NEW DELHI: The Competition Commission of India (CCI) has approved the proposed combination involving the acquisition of certain stakes by Bagmane Prime Office REIT in Bagmane Developers and other associated entities.
According to the regulator, the transaction involves the direct acquisition of Bagmane Developers (BDPL), including its wholly owned subsidiary Bagmane Green Power LLP (BGPL), by Bagmane Prime Office REIT.
The deal also includes the indirect acquisition of Bagmane Rio (BRPL) by the REIT. In addition, the REIT will indirectly acquire the asset ‘Luxor @ Bagmane Capital Tech Park’ from Bagmane Constructions through BDPL.
As part of the proposed 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 shareholding in the target entities.
Bagmane Developers, Bagmane Rio and Bagmane Green Power LLP are collectively referred to as the target entities in the transaction.
Bagmane Prime Office REIT was registered with the Securities and Exchange Board of India (SEBI) as a real estate investment trust on July 15, 2025.
