The Competition Commission of India (CCI) has approved a proposed combination involving the acquisition of stakes by Bagmane Prime Office REIT. This combination includes the direct acquisition of Bagmane Developers Private Limited (BDPL) and its subsidiary Bagmane Green Power LLP (BGPL) by the Bagmane Prime Office REIT (Acquirer REIT). It also involves the indirect acquisition of Bagmane Rio Private Limited (BRPL) and Luxor @ Bagmane Capital Tech Park by the Acquirer REIT. The Sponsor Group of the Acquirer REIT and third-party shareholders of the Target Entities will receive units of the Acquirer REIT in exchange for their shareholding. The Target Entities are involved in commercial real estate development and leasing, hospitality, and renewable energy generation. The Acquirer REIT was registered with SEBI on July 15, 2025, as a real estate investment trust. A detailed order from the Commission will be issued subsequently. This release is dated March 5, 2026, and is available in Urdu, Hindi, and Tamil.
Key Entities Referenced
Competition Commission of India (CCI): The regulatory body approving the proposed combination.
Bagmane Prime Office REIT: The entity acquiring stakes in other companies.
Bagmane Developers Private Limited (BDPL): One of the target entities involved in the acquisition.
REIT Regulations: The regulations under which the Acquirer REIT is registered.
SEBI: The Securities and Exchange Board of India, which registered the Acquirer REIT.
Competition Commission of India
CCI approves proposed combination inter alia
involving acquisition of certain stake by
Bagmane Prime Office REIT of Bagmane
Developers and others
Posted On: 05 MAR 2026 10:45AM by PIB Delhi
The Competition Commission of India (CCI) has approved the proposed combination inter alia involving
acquisition of certain stake by Bagmane Prime Office REIT of Bagmane Developers Private Limited and
others (directly/ indirectly).
The Proposed Combination envisages: (i) direct acquisition of Bagmane Developers Private Limited
(BDPL) [including its wholly owned subsidiary, Bagmane Green Power LLP (BGPL)] by Bagmane Prime
Office REIT (Acquirer REIT); (ii) indirect acquisition by the Acquirer REIT of Bagmane Rio Private
Limited (BRPL); (iii) indirect acquisition by the Acquirer REIT (through BDPL) of Luxor @ Bagmane
Capital Tech Park from Bagmane Constructions Private Limited; and (iv) The Sponsor Group of Acquirer
REIT and certain third-party shareholders of the Target Entities will be issued units of the Acquirer REIT, in
consideration for the transfer of their shareholding in the Target Entities to the Acquirer REIT. (BDPL,
BRPL and BGPL are collectively referred to as “Target Entities”).
Acquirer REIT was registered with the SEBI on 15th July, 2025 as a real estate investment trust under the
REIT Regulations.
The Target Entities are engaged in the business of development and leasing of commercial real estate,
hospitality business as well as allied services such as generation of power through renewable sources.
Detailed order of the Commission will follow.
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NB/ONP
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Read this release in: Urdu , ही , Tamil