Bengaluru, March 24 -- Bagmane Prime Office REIT, backed by Blackstone and real estate developer Bagmane Group, has deferred its Rs.4,000-crore initial public offering (IPO) that was originally scheduled for March, amid market volatility, according to two people familiar with the matter.

Bagmane had received regulatory approval for the draft offer document it filed last December. The company had begun roadshows for investors and analysts earlier this month in the run-up to the IPO.

"The company was scheduled to file the updated offer document (UoD) in early March, and once the approval came in, planned to launch the public offering in March itself. Now, if the situation gets better, it could even happen in the latter half of April," sai...