Cyril Amarchand Mangaldas (“CAM”) advised Bagmane Developers Private Limited (the “Company”), backed by Blackstone Group, in relation to its pre-REIT funding round of approximately INR750 crore through the issuance of share warrants and unsecured optionally convertible debentures (“OCDs”) to 20 subscribers (“Round 1 Subscribers”) on a private placement basis, executed on December 22, 2025. The Company owns certain real estate assets and proposes to utilize the funds in furtherance of its business objectives. The securities issued to the Round 1 Subscribers have been acquired by Bagmane Prime Office REIT (the “REIT”) on May 7, 2026 in consideration of REIT units allotted to the Round 1 Subscribers.
The deal team comprised of Mohit Gogia, Partner; along with Anisha Dash, Senior Associate; Muskaan Garg, and Swathi Kathi, Associates.
The firm also advised the Company in relation to its second round of pre-REIT funding of approximately INR610 crore through the issuance of OCDs to 57 subscribers (“Round 2 Subscribers”) on a private placement basis, executed on April 22, 2026. The OCDs issued to the Round 2 Subscribers have been acquired by the REIT on May 7, 2026 in consideration of REIT units allotted to the Round 2 Subscribers.
The deal team comprised of Mohit Gogia, Partner; with support from Anisha Dash, and Mehar Kaur, Senior Associates; Aashna Gupta, Muskaan Garg, Swathi Kathi, Avikalp Mishra, and Yash Kataria, Associates.