Cyril Amarchand Mangaldas advised Blackstone-backed Bagmane Developers Private Limited on Pre-REIT Funding across Multiple Rounds
The India’s leading law firm, Cyril Amarchand Mangaldas advised Bagmane Developers Private Limited, backed by Blackstone Group, in relation to its pre-REIT funding round of approximately INR 750 crore through the issuance of share warrants and unsecured optionally convertible debentures (OCDs) to 20 subscribers on a private placement basis, executed on December 22, 2025.
The securities issued to the subscribers were subsequently acquired by Bagmane Prime Office REIT on May 7, 2026, in consideration of REIT units allotted to the subscribers. The Company owns certain real estate assets and intends to utilise the proceeds towards its business objectives.
Cyril Amarchand Mangaldas also advised the Company in relation to its second pre-REIT funding round of approximately INR 610 crore through the issuance of OCDs to 57 subscribers on a private placement basis, executed on April 22, 2026. The OCDs issued in this round were also acquired by Bagmane Prime Office REIT on May 7, 2026, in exchange for REIT units allotted to the subscribers.
The CAM deal team for the first funding round comprised Mohit Gogia (Partner), along with Anisha Dash (Senior Associate), Muskaan Garg (Associate), and Swathi Kathi (Associate).
The CAM deal team for the second funding round comprised Mohit Gogia (Partner), with support from Anisha Dash (Senior Associate), Mehar Kaur (Senior Associate), Aashna Gupta (Associate), Muskaan Garg (Associate), Swathi Kathi (Associate), Avikalp Mishra (Associate), and Yash Kataria (Associate).
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