CCI Clears Proposed Combination Involving Bagmane Prime Office REIT and Bagmane Entities

The Competition Commission of India (CCI) has approved a proposed combination involving the acquisition of certain stakes by Bagmane Prime Office REIT in several entities belonging to the Bagmane group.

Structure of the Proposed Combination

The approved transaction comprises multiple steps:

• Direct acquisition: Bagmane Developers Private Limited (BDPL), including its wholly owned subsidiary Bagmane Green Power LLP (BGPL), will be directly acquired by the Acquirer REIT.
• Indirect acquisition: Through the acquisition of BDPL, the REIT will indirectly acquire Bagmane Rio Private Limited (BRPL).
• Property transfer: The Acquirer REIT, through BDPL, will also acquire Luxor @ Bagmane Capital Tech Park from Bagmane Constructions Private Limited.

Collectively, BDPL, BRPL and BGPL are referred to as the Target Entities.

Consideration for the Transaction

As part of the transaction, the Sponsor Group of the Acquirer REIT and certain third-party shareholders of the Target Entities will receive units of the REIT in exchange for transferring their shareholding in the Target Entities to the Acquirer REIT.

Bagmane Prime Office REIT was registered as a real estate investment trust with the Securities and Exchange Board of India (SEBI) on 15 July 2025, in accordance with the REIT Regulations.

Business Activities of the Target Entities

The Target Entities are engaged in the development and leasing of commercial real estate, hospitality operations, and allied activities such as generation of power through renewable energy sources.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.