Bagmane Prime Office REIT IPO Sees Strong Demand, Subscribed 16.5 Times
Bagmane Prime Office REIT IPO subscribed 16.50 times
Business Standard
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The Bagmane Prime Office Real Estate Investment Trust (REIT) IPO was heavily subscribed, receiving bids for 244 crore units, which is 16.5 times the available 14.79 crore units. The IPO, priced between ₹95 and ₹100 per share, aims to raise ₹3,405 crore to fund acquisitions and general corporate purposes.
- 01The Bagmane Prime Office REIT IPO was subscribed 16.5 times.
- 02It received bids for 244 crore units against 14.79 crore units on offer.
- 03The total issue size is ₹3,405 crore, with ₹2,390 crore from a fresh issue.
- 04The REIT focuses on premium Grade A+ business parks in Bengaluru.
- 05Funds will be used for acquisitions and general corporate purposes.
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The Bagmane Prime Office Real Estate Investment Trust (REIT) IPO has garnered significant interest, being subscribed 16.5 times with bids for 244 crore units compared to the 14.79 crore units available. The IPO opened for bidding on May 5, 2026, and will close on May 7, 2026, with a price band set between ₹95 and ₹100 per share. The total issue size is ₹3,405 crore, which includes a fresh issue of ₹2,390 crore and an offer for sale of ₹1,015 crore. The proceeds will help fund the acquisition of Luxor at Bagmane Capital Tech Park and a 93% stake in BRPL, along with general corporate needs. The REIT manages premium Grade A+ business parks in Bengaluru, focusing on high-quality tenants, including multinational corporations. As of December 31, 2025, the REIT's portfolio includes six business parks with a total area of 20.3 million square feet, of which 19.6 million square feet is leasable.
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The strong subscription of the Bagmane Prime Office REIT IPO indicates robust investor confidence in the commercial real estate sector in Bengaluru, potentially leading to more developments and job creation in the area.
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