India's realty IPO story moves beyond developers to managed assets

In India, companies that build big buildings are called real estate developers.

For a long time, these were the main companies that sold shares on the stock market.

Now, something new is happening: companies that run offices people can rent are also selling shares to investors.

Some of these companies have already joined the stock market, like Awfis, WeWork India, Smartworks and IndiQube.

There are also special funds called REITs that own buildings and share the rent money with investors.

Experts think the next big thing could be student housing, school buildings, warehouses and other managed properties.

Some people believe these new companies will keep growing and reward investors well.

Others say investors must be careful and check that companies really make money, not just promise big things.

Because of this, investors are looking at things like how full the buildings are and how steady the money coming in is.

This shows that running buildings and services around them is becoming as important as building them.