Bagmane Prime Office REIT IPO Launches Today, Targeting ₹3,405 Crore
Jhunjhunwala-backed Bagmane REIT IPO opens today. Check GMP, subscription, price band and other details
The Economic Times
Image: The Economic Times
The Bagmane Prime Office Real Estate Investment Trust (REIT) IPO opens for subscription today, aiming to raise ₹3,405 crore ($410 million USD) with a price band of ₹95 to ₹100 per unit. Despite strong institutional backing, grey market signals indicate limited expectations for immediate listing gains.
- 01Bagmane Prime Office REIT aims to raise ₹3,405 crore ($410 million USD) through its IPO.
- 02The price band is set between ₹95 and ₹100 per unit, with the issue open until May 7.
- 03Despite strong institutional interest, the grey market premium is currently zero, indicating muted expectations.
- 04The REIT's portfolio includes six Grade A+ business parks in Bengaluru, with a committed occupancy of 97.9%.
- 05Bagmane Prime Office will be India's sixth listed REIT upon its launch.
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The Bagmane Prime Office Real Estate Investment Trust (REIT) IPO opens for subscription today, with a target to raise ₹3,405 crore (approximately $410 million USD). The price band is set between ₹95 and ₹100 per unit, and the issue will remain open until May 7. Despite strong institutional interest, including backing from the Jhunjhunwala Discretionary Trust and major domestic institutions like SBI Life Insurance and UTI Mutual Fund, grey market signals are muted, indicating a zero premium ahead of the opening. This suggests limited expectations for immediate listing gains. The REIT's portfolio consists of six Grade A+ business parks in Bengaluru, with a total area of 20.3 million square feet and a committed occupancy rate of 97.9% as of June 2025. The funds raised will primarily be used for asset acquisitions within the Bagmane ecosystem. Upon its launch, Bagmane Prime Office will become India's sixth listed REIT, joining other major players in the market.
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The successful launch of the Bagmane Prime Office REIT could enhance investment opportunities in Bengaluru's commercial real estate market, potentially benefiting local investors and the economy.
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