Bagmane Prime Office REIT Sets Record with Over 2 Lakh Applications for IPO
Blackstone and Jhunjhunwala-backed Bagmane draws 2 lakh applications, highest for all REIT IPOs
The Economic Times
Image: The Economic Times
The Bagmane Prime Office REIT has closed its public issue at ₹3,405 crore, attracting a record 201,146 applications, the highest for any REIT IPO in India. The issue was oversubscribed 24.96 times, reflecting strong demand from institutional and high-net-worth investors ahead of its listing on May 15.
- 01Bagmane Prime Office REIT received a record 201,146 applications, the highest for any REIT IPO in India.
- 02The public issue of ₹3,405 crore was oversubscribed 24.96 times, with institutional investors showing significant interest.
- 03The REIT's portfolio includes six Grade A+ business parks in Bengaluru, covering 20.3 million square feet.
- 04Major tenants include global tech companies like Google, Amazon, and Samsung Electronics.
- 05The REIT is set to list on the BSE and NSE on May 15, 2023.
Advertisement
In-Article Ad
The Bagmane Prime Office REIT, sponsored by the Bagmane Group and backed by Blackstone Inc., has achieved a historic milestone in India's real estate investment trust market by attracting 201,146 applications for its public issue of ₹3,405 crore. Closing on May 7, the IPO was oversubscribed 24.96 times, with the institutional segment seeing a subscription of 26.58 times. This strong demand comes despite muted signals from the grey market. The REIT's portfolio consists of six Grade A+ business parks in Bengaluru, encompassing 20.3 million square feet of space, with a high occupancy rate of 97.9% as of June 2025. Major tenants include renowned global technology firms such as Google and Amazon. The REIT will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on May 15, 2023, marking its entry as the sixth listed REIT in India.
Advertisement
In-Article Ad
The successful IPO indicates a robust demand for commercial real estate investments, potentially leading to increased confidence in the market and more investment opportunities for local investors.
Advertisement
In-Article Ad
Reader Poll
Do you think REITs are a good investment option for retail investors?
Connecting to poll...
More about Bagmane Group
Read the original article
Visit the source for the complete story.